No sell-off yet. Music is still playing. Need to keep dancing.I am trying hard to identify a point of reversal of S&P and since I don't find any yet I decided to look at JPN225 for its wave count as well, as anyway the markets will all reverse at the same time. JPN waves seem a little bit clearer, at least there is an ending diagonal with a nicer wave structure than in S&P.
I think there is still one wave up to go, possibly for a few weeks or a month before we reach a reversal.
I will make a close-up of the last 5th wave in the next post.
Nikkei 225 JPN225 CFD
JPN225 potential bullish Bat pattern setting upHere on the Japanese index we got a Bat pattern setting up where we are going to buy it up from previous support / structure level, but we still needs to wait for it to come down a bit more and the RSI come more close to the 20ish oversold condition, but its not a must for taking the trade.
Comments good or bad are welcome
Kind regards
Thomas Jeff
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
Nikkei225: Potential TCT into A Cypher (Some Random Analysis)The Forex markets have been kicking my tail this week so I decided to take a look at some other markets simply to clear my mind. Conducting technical analysis is actually a stress reliever to me, when I get do it on something that I don't trade. A few of my clients have expressed that they trade many of the indices, which lead me to the Nikkei.
Initially the first thing that popped out to me was the potential bearish Cypher pattern which met up with an outstanding amount of Fibonacci confluence after putting on a few extensions, retracements and inversions. I also had an abcd move projected last night, but couldn't say for sure since the "C" leg was still in progress.
As I took another look this morning i see that the C leg has retraced to a level deep enough to provide a rather good risk to reward for a trader looking to hop on long...not because of the potential Cypher completion, rather because of the overall shift in the trend that we just saw after achieving a HHHC.
Nikkei getting back on track againNikkei seems to get back in line again after a short breakout on the downside meeting the EMA62.
In order to continue it's trend it needs to stay between the two grey lines which were formed in the beginning of January.
I am long with a first target at 19000.
SL just below the EMA62
Feedback/Ideas?
Looking to Short the Nikkei 225 IndexNikkei 225
- Clear Bearish Divergence (Price making higher highs while RSI is making lower highs).
- I am interested in Shorting the Index if it breaks 17093 ( the most recent swing low).
- On a break of the lows and the trendline, I will wait for a pull back to re-test the level again then issue my short position to 16425 area.
- The trend remains bullish. This is a counter trend trade.
A fall in Japan Equities will yield a fall in USDJPY GBPJPY EURJPY as it will signify Yen strength. So look for similar opportunities in the Yen Pairs.
NIKKEI 225 4h (04.Oct.2014) Diagram Technical Analysis TrainingThe NIKKEI 225 Japan Index (JPN225) 4h Diagram Technical Analysis Training shows the following:
The JPN225 index has made a reaction from 15350 towards to Kijun Sen/EMA 200 and it breached them both.
So the first think in mind is that JPN225 is approaching KUMO with this V reaction.
We have no special candlestick pattern. MACD is bullish and RSI = 50 looking higher.
There is no special diagram pattern except this V reaction.
So we are bullish for KUMO first. Stop loss if it stabilizes (4h close) under EMA 200.
NIKKEI 225 4h (13.Sep.2014) Diagram Technical Analysis TrainingThe NIKKEI 225 Japan Index (JPN225) 4h Diagram Technical Analysis Training shows the following:
The JPN225 index seems to give up the effort to breach the 15930 target.
So the first think in mind is the KUMO approaching. MACD & RSI are both marginally bearish.
We have no special candlestick pattern.
There is no special diagram pattern.
The indicators shows the bearish way. So short for Support line and stop loss above 15930. .
NIKKEI 225 4h Diagram Technical Analysis Training The NIKKEI 225 Japan Index (JPN225) 4h Diagram Technical Analysis Training shows the following:
The JPN225 index has made a reaction from EMA 200 towards to Kijun Sen and then it declined towards again to EMA 200, finding support at Tenkan Sen. The index is into the KUMO.
So the first think in mind is that JPN225 is into the KUMO without a clear trend.. MACD & RSI are both trying marginally bullish.
We have no special candlestick pattern.
There is no special diagram pattern.
So the only think we have is the resistance line. Long above it and of course above Kijun Sen, stop loss or short under the EMA 200 or KUMO (the KUMO has twisted).
NIKKEI 225 4H Diagram Technical Analysis Training EURSessionThe NIKKEI 225 Japan Index (JPN225) 4H Diagram Technical Analysis Training shows the following:
The JPN225 index has made a sharply reaction from Friday towards to KUMO cloud above the support line. The weekly diagram is neutral.
So the first think in mind is that JPN225 will or not find resistance from EMA 200 first. MACD & RSI are both bullish.
We have no special candlestick pattern.
The uptrend and the pattern looks like a hook.
Look the index for EMA 200 first. If it stabilizes above it long for KUMO. (watch the Chikoun Span too). Stop loss under the Kijun Sen.
NIKKEI 225 Daily (29.06.2014) Technical Analysis.The NIKKEI 225 Japan Index (JPN225) Daily Diagram Technical Analysis Training shows the following:
The JPN225 index has made a long movement above the KUMO cloud last month but a decline movement toward to Tenkan Sen has happened last week. Now the Index has breached the support line and stopped exactly on the Tenkan Sen (light green). The weekly and monthly diagram are bullish.
So the first think in mind for Monday is the case of a reaction from here in order to reach the previous support line or a short movement towards to Kijun Sen (blue line). As you can see on the diagram the lower support line could give a reaction from here. MACD and RSI both say sell.
We have no special candlestick pattern. The index is above the KUMO, Tenkan Sen & Kijun Sen too.
There is no special pattern. The fib from 13953 to 15189 (projection) shows support at current level. If the Index declines from here the next target is the 0.764 of fib (14897) that meet the Kijun Sen support.
So I think that the JPN225 will reach the 14897 with MACD the only indicator for these thoughts.
Nikkei 225 in Critical Point Daily (Weekly is more possitive)The Nikkei 225 Index (JPN225) is in critical point just on the top o KUMO, with long signals from MACD and RSI. The weekly chart of JPN225 is more positive because is over the KUMO and it tries to reach the Kijun Sen.
The JPN225 will force the bullish movement If it get over the KUMO the next days. Otherwise some more consolidations is in favor in the cloud. If it gets over the cloud it will brake the downtrend channel and that would be another strong bullish indicator.