4xForecaster
Short

$Nikkei / $JPN225 At Critical Level; Favors Decline | $JPY #BOJ

FX:JPN225   Nikkei 225 Index of Jaрanese Listed Shares
TECHNICAL SYNOPSIS:

1 - Predictive/Forecasting Model defines 20780 as critical high/High-prob. reversal level

2 - Technical analysis would define 20961 as probable resistance level based on June 1997 and April             2000 structural level and last month's failure to break above same level.

3 - Current bar carves out a lower-low relative to last month's bar

Net Bias = BEARISH

snapshot


BEARISH SCENARIO - 50% FIB:

Decline would likely seek Fibonacci handles at 38.6%, 50.0% or 61.8% significant retracement level. However, first retracement offers little to no past structural levels for reaction when compared to significant pivot range at the corresponding 50.0% Fib retracement level.


INVALIDATION:

Invalidation would occur if price broke above and closed above 20961. For now, market remains taut to the upside.


OVERALL:

Bears are gaining ground, defending a historical 20961 level. Market is taut to the upside, while technical profile is tilting towards bearish favors.


David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA


-----
Twitter:
@4xForecaster

LinkedIn:
David Alcindor
-----


.
Comment: 11 FEB 2016 - Chart Update / Tech-Note:

As forecast 7 months ago, price rolled according to the dashed arrow, now nearing probable support at 14,000, as illustrated in the following chart::

snapshot


snapshot


Best,

David Alcindor
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: MarketPredictiveAnalysis@gmail.com
All updates on https://twitter.com/4xForecaster
Good one!
+1 Reply
Hi David am just wondering if you can teach me how to use chart as am new to this and if there are books you can adevice me to buy thanks
+1 Reply
Hello @devinchi - I would pick up any introduction to technical analysis if you are just beginning. Once you read a few, you will likely discover that certain authors have a style that may best fit your own. This early in your technical education, I would not filter anything. I would stand with my mental mouth wide open in from of a gushing fire hydrant and ingest it all.

Amazon.com has a good variety on introductory books.

David
+3 Reply
devinchi 4xForecaster
Thank you david.
+1 Reply
do you think we should go long for any JPY pair?
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out