Uncharted-FX
Long

Nikkei Break Out Nearing?

FOREXCOM:JPXJPY   Japan 225 CFD
Our Dax and ESP 35 trades are continuing as mentioned in previous posts. It seems cheap money and easing will keep stocks propped as there will be nowhere to go for yield. Of course, a geopolitical issue or black swan event can nullify this...and I believe there will be a confidence crisis approaching.

However, we will deal with that when it appears and the bond market will give us the signal for this.

I like what I see here on the Nikkei. A nice downtrend with basing/range. You can say a cup and handle pattern too. Let us await for a break above this resistance one.

Other confluences fake out candles and engulfing candles at the major support below, indicating that we may have shown 2/3 market moves (downtrend and range).

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