Short at 21470 target 21000 ahead of japan EclectionI short eh Nikkei who is in a very uprigh (vertical) wedge ahead of japan election buy the tumoir sell the news.
also the 21500 not seen since years and was monthy resistance
Overbougth sale as the dowkone and sp500 i think we are in a capitlisazion market or bubble is when the market price only the good news and nevermind of any bad news like he is waterproff to any bad news on geopolitical and also economy topic.
and have 2gap to be filled around 21000 and 20850
short at 21470
target 21000 in 2 step
with 2 opening position ,and will close the first position at my first target 21250
Stop loss 21660
RR 1/2.5
Nikkei225trade
Nikkei Stock Index (30/9/17) *Retest Of 20,600Nikkei Index is on it way to retest 20,600 level.
Do not short, if you short you are simply taking too much unnecssary risk for now. The momentum of recent run up is just too strong/
Please make sure to us Price Action as your proper timing tool.
I'm rather cautious bullish for now.
I will update again, if there is any changes.
Trade Safe,
s0nic
Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
please inform me with post a comment if it reach some critical point/break pattern, reach target/reach stop level.
or if there is any question about this analysis/need new update.
Because im not monitoring this chart all time.
Nikkei 225 End Game is NearWhat we are seeing is the 5th impulsive wave up from 2013 bull market.
This 5th impulsive wave is further subdivided into another 5 wave. as labelled above.
The last of the impulsive 5th wave is taking shape to be an ending diagonal.
From the overall picture, wave 5 of the entire bull market from 2013, has failed to reach a higher point than the end of wave 3. (Which is around 20,950). In elliot wave principle, we call this a truncated 5th wave, whereby the forces to start a new trend is so strong, that wave 5 cannot reach the previous peak of wave 3.
Expect things to turn very ugly when 19,900 handle breaks. Watch for it. It may be the start of a new bear market.
I've taken a short position at 20,150, with SL above 20,400. (Please use forwards to short)
There's no take profit target for now, as I'll wait to see if the bear market plays out. If so, we can probably ride this down for a couple of months.
Below is the 5 wave Bull market EW chart (From 2013)
Japan225 - Bearish Trend Scenario Japan225 - Bearish Trend Scenario
Japenese index Nikkei225 recently broke and retested an ascending triangle pattern on the daily chart suggesting more downside for this index and also big strength for jpy pairs according to their correlation. If you look at the weekly chart of japan225, you can see the trump rally has lost its momentum with multiple dojis/shooting stars indicating that the pending correction is coming very soon. Potential targets for retracements is the fib 50% and 61.8% level which is also in confluence with a structured weekly support. if this analysis play out we can see big strength in jpy pairs, I can see gbp/jpy hitting 130 and usd/jpy hitting 106 in the coming days/weeks.
NIKKEI 225 BUYA double bottom is a charting pattern used in technical analysis. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound. The double bottom looks like the letter "W". The twice-touched low is considered a support level.