The Nikkei is correcting the last upward leg in the daily chart after signaling a 3 bar daily uptrend, time expires today, and the 4h chart paints a clearly bearish picture. The minimal target is on chart, and to enter the trade I'd look into selling a range expansion down bar out of the mode at 20785. You would have to use my indicator and wait for a bar to turn...
I've been watching this chart closely, and I think we might see a great buy setup in the near short term. Eyeing the area between 121.43 and 122.34, with invalidation for this signal below 118.968, potential upside is 137.94 in 6 months or less. We don't get significant trends in FX very often, and this is one of them. I'll be monitoring the Yen to enter a longer...
Simple setup, initiate a short when the support is breached. We have a very strong decline after completing what looks like an expanding ending diagonal triangle in the 4h/daily charts. If price moves below the support level outlined in the chart, it will accelerate down, probably moving 430+ pips to the downside. As a bonus, crude oil seems to be moving up, while...
Fundamentals: - BOJ has not express additional stimulus despite pressure from other central banks - A weaker USD due to economic data Technically: - Yen and Nikkei at 2015 high so pullback is healthy - 4 hour is showing potential H&S formation - RSI has rooms to fall - From the breakout level, Fib of 38.2% is a healthy and viable target If Head & Shoulder...
Decline to 19033 completed wave ((X)), and the Index has since resumed the rally in the form of a double correction (W)-(X)-(Y)-)-(X)-(Z) where wave (W) ended at 19843, wave (X) ended at 19468, wave (Y) ended at 20563, second wave (X) ended at 20318, and wave (Z) is currently in progress towards 20900. Wave (Z) rally from 20318 ended the first leg at 20658 as...
Just looking at this stock index, you can see it is a one way street at the moment. However, one way streets are often dangerous and taking the opposing way can be rewarding sometimes. Here is a potential Cypher pattern. At the moment the price appears to be at a double top and I think many traders will chose this spot as a potential place to short. However,...
CADJPY has been in a consolidation for some time, before launching a fierce uptrend, in what I consider to be a wave C impulse in a larger flat. I considered the move complete, but looking at how it behaved after topping, I suspect that the uptrend isn't complete yet. We can observe a series of smaller timeframe trends briefly putting the bears and the bulls in...
Decline to 19033 completed wave ((X)), and the Index has since resumed the rally in wave W in the form of a double correction ((w))-((x))-((y)) where wave ((w)) ended at 19843 and wave ((x)) ended at 19468. In our previous Nikkei 225 update (see related ideas below), we said wave ((y)) is in progress towards 20276 – 20472, and some profit taking should be seen...
We have interesting news releases coming out tonight, and thoughout tomorrow's session. The technical chart shows an uptrend that is showing signs of exhaustion after correcting the strong decline from the December high from March 16 onwards. The advance was halted when price reached an area of weekly low volume resistance, where the market was extremely one...
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...
There's a potential 8 bar downtrend about to confirm here. If we see a swift move down from this level, we can expect the Nikkei to travel down, and fast. Technically, you can enter shorts now, with a tight stop, but the 8 bar signal isn't confirmed yet. Target on chart, for now an estimation, but possible. Wait for confirmation if trading it. Might offer good...
Analysis on chart. Simple setup, I expect the larger moves to come tomorrow but it's worth monitoring GBP pairs for a short. Timer about to expire for the last uptrend signal, very nice divergence setting up in CCI. Short under the highest low. Good luck! Ivan.
Short term Elliott Wave view suggests pullback to 19348 completed wave ((X)). From this level, rally in wave (a) is taking the form of a 5 waves diagonal when wave i ended at 19570, wave ii ended at 19405, wave iii ended at 19775, wave iv ended at 19620, and wave v of (a) is in progress towards 19851 – 19906 equal leg area. After wave (a) is complete, index is...
We can observe a clear five wave advance from the lows, with wave 5 being the largest, almost reaching 1.618 of the distance from point 0 to wave 3 high, which is the typical distance wave 5 travels. These extended fifth waves often produce a very sharp and steep retracement that swiftly moves price down to wave 5's second wave, or even wave 4 of the whole...
USDJPY offers an attractive short trade, as long as it stays under the daily mode level at 119.635. I'm looking to short under the previous hourly low for the time being, with a very tight stop to maximize returns. We can place a reverse position above the resistance line, in case it reverses and continues to range. It's a good way to hedge against unexpected...
Seems like this pair will offer a perfect short opportunity anytime now. As depicted in the chart, we can see that price reached a critical resistance level after completing an AB=CD pattern from the low to the sideways correction start and end. I'll post if I find a good entry opportunity with good risk/reward ratio asap. If aggressive, you can short now under...
Last Friday we saw a sell off in the market. The News telling us that's it because new trading regulations in China and a possible Grexit (Greece could leave the euro zone). Today China's reaction to the sell off is to cut the reserve requirement ratio (RRR) for all banks by 100 bp (1 percent). It is the second reduction in two months. China has taken this step to...
An addendum to my previous 'Waiting for the perfect short' chart. This chart describes the different projection techniques that I used to determine targets and potential retracement zones in this pair. I'm short from 177.569, with a break even stop and will scale in every chance I get. This corrections will be easily foreseeable using time at mode in lower...