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Japan225

FTSE100 - POSSIBLE INVERSE HEAD AND SHOULDER PATTERN WEEKLYToday, Bank of England governor Mark Carney said a rate cut is needed after the Brexit vote and hinted that it could come as soon as this summer! This news got the FTSE and the DAX flying up to nearly 300 points. Also, the Feds stated this week that they may cut rates this summer as well, possibly even this month (July) so that is really great news for global indices. However, with the political uncertainty in Europe and UK, it wont be a sure bet! I believe the UK and European stocks will suffer later this year due to Brexit after shocks. I still expect more downside for FTSE100 and pound in particular but after today's news I think the markets will rally up first, ftse back near its all time high around 7100. On the Weekly chart, I have identified a possible inverse head and shoulder pattern that has already broken the neckline today. We have the 200 MA support around 6460 and also our neckline support around 6400. In this case, our entry would be around 6460-6500 with stop loss below 6370 with a potential target of 7100.
FX:UK100
by Sagefx
1
JPN225 Potential Bat pattern completionHere we got a Bat to look out for tonight, its against trend so we only go for target 1 to protect capital. RSI is on its way to over bought condition. Today we got a hit on the AUDCAD Bat, but got a target 2 winner in a Bat on GER30 index. Currently we are in a short position on a Cypher on USDCAD. And we just entered long on a Cypher on EURUSD so lets see what numbers we wake up till tomorrow for those that follow me. I will try more and more to begin to put up every trade that i take so those that are interested in Harmonic patterns can get a better feeling of how the daily grind is for this method. The good weeks and the bad. Kind regards Thomas Jeff
FX:JPN225Short
by UnknownUnicorn101425
1
Japan 225 - Strong ShortJapan 225 in the long term may be a good short which could show to be VERY profitable. Japan has been forming lower highs since 1991 which the next one I believe has just formed, as it did not break the last high. A doji has formed on the last potential lower high which shows indecision in the market after a bullish move since 08/2012. After the doji was formed a bearish candle is potentially forming. If you go onto the daily time frame you will see a double top forming which is just waiting for a bearish move over the neckline to confirm it, which target one has been stated at 16,528, which there is a past resistance/support on/around this level. This is just a target from the double top, on the monthly time frame which you are currently looking at, a much larger potential bearish move is expected. The double top, if formed would then be seen as confluence. Stochastic is also showing this to be overbought with a crossover which occurred on the last candle, and if you look at the past lower highs you will see that they were all in overbought condition's which were followed by crossovers. Confluences; - Lower Highs - Overbought stochastic - Double top forming on the daily time frame - Doji formed on potential lower high
FX:JPN225Short
by forextrader1088