Japan's Nikkei 225 Is on the brink of a massive upside move!
Updated
Japan's Nikkei 225 Index - Daily
Is poised to blast out of major resistance just overhead at 18400-18500. If it can successfully hold on to a blast-off move over 18400+, we can look for gains to 20,000+ and then 21,600+ over the coming 8-16 weeks. I am waiting for 18,400 to break first, then buy half the position. I'll buy another half crossing 18,500 and use a stop as close as 18,250 initially. It may take a few more times to push through but when it does it will be fast and furious. I will look for daily ranges to expand on the upside to buy even more.
NOW YOU SEE WHY THE MARKET HAS BEEN CAPPED AT THIS LEVEL = OLD RESISTANCE AREA from aggressive selling campaigns in August and September denoted by the RED TRIANGLES. The market has re-tested these levels several times and is chipping through this overhead supply. Once it gets through, then we get long and get aggressively long.
RISK Management: (I'd risk a normal position size here at 1% of the portfolio, so that if it hits the stop on a the full position entry (18,450 entry, 18,250 stop) I would lose 1% of my overall portfolio.
Tim Sunday, October 18, 2015 11:39PM EST
"Key Hidden Levels Chat Room" here at TradingView
Is poised to blast out of major resistance just overhead at 18400-18500. If it can successfully hold on to a blast-off move over 18400+, we can look for gains to 20,000+ and then 21,600+ over the coming 8-16 weeks. I am waiting for 18,400 to break first, then buy half the position. I'll buy another half crossing 18,500 and use a stop as close as 18,250 initially. It may take a few more times to push through but when it does it will be fast and furious. I will look for daily ranges to expand on the upside to buy even more.
NOW YOU SEE WHY THE MARKET HAS BEEN CAPPED AT THIS LEVEL = OLD RESISTANCE AREA from aggressive selling campaigns in August and September denoted by the RED TRIANGLES. The market has re-tested these levels several times and is chipping through this overhead supply. Once it gets through, then we get long and get aggressively long.
RISK Management: (I'd risk a normal position size here at 1% of the portfolio, so that if it hits the stop on a the full position entry (18,450 entry, 18,250 stop) I would lose 1% of my overall portfolio.
Tim Sunday, October 18, 2015 11:39PM EST
"Key Hidden Levels Chat Room" here at TradingView
Note
Japan looks ready to blast off again from this sideways range around the $19000 level which should propel us up to 20,000 and beyond.Trade closed manually
I believe this is a great spot to get off of this train. 19600. Right here. The rally just doesn't look right. There is something that doesn't look right. The ranges aren't explosive to the upside and it is running into old resistance from the very sharp, strong sell-off in August. I believe this price zone spells trouble and it is wise to walk away from any long positions here. The risk is high now because stops are so much lower and there doesn't appear to be much more upside. If anything, go short here and use a stop up just 200 points. I think the market has pushed itself up too high, too fast here.
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