Hello traders and investors!
Today we will talk about Japanese Index NIKKEI 225 in which we see very clear bullish pattern.
As you can see, NIKKEI made an A-B-C corrective decline from the highs and the main reason why we think it's a correction within uptrend is because of a triangle within wave B in the middle. We know that triangles cannot occur in wave 2, so...
Price is retesting our non horizontal resistance that can now act as a support. Moreover, we are around a support zone and our 100-MA on the H1 was broken earlier today. Will the buyers win this one or the sellers are still in control ?
On EURJPY, currently the price in the corrective phase as it is ending it's A wave. A sell opportunity is clear since the price is around a resistance level. Let's wait and target our next trigger at the opening of the market.
Trade Safe and Best of Luck !
If you have missed this one, then your chances are back. Our uptrend was broken then the price went back to the higher levels where it was trading last week. More confluence means less risk. RSI is reaching critical levels pushing bears more. The price can still trade inside the resistance zone for a couple of days, so trade safe and best of luck !
If you like...
I study Japanese candlesticks have been for years this pattern by far is the most accurate the dark cloud cover, expected drop tomorrow for a conformation candle, Regardless of the trade and price action a drop is expected.
Search dark cloud cover on google images considered a technical analysis this candle is ACCURATE!
Overall I am bearish Biased , so I want to see the 81.917 level violated and I want to see clear price action that price wants to move away from the level. However, if the 82.406 level is violated, I will go for a buy once price shows clear signs of momentum away from the 82.406 level.
NO BREAK, NO TRADE.
Goodluck my friends!
USD/JPY is heading for a possible Bullish Reversal soon. USD/JPY is heading towards a Strong Resistance Zone and Bollinger Bands along with RSI are approaching close to an Over-Sold Market. Lookout for a possible Reversal!
What do you think about my idea? Do you agree or disagree? Let me know in the comments!
Disclaimer: This is my...
THRESHOLD of correction is 700 to 1,200 pips
my first deal was in 1996 as a trainee in an fx firm.. gone LONg at 114ish
like any asset .. they all go back to where it came from
who better else to take the lead in a merry go round than this LOVELY PAIR
In this technical analysis I will explain my current view on USD/JPY and why I suggest a long position. Also, I will explain what good areas are to buy it now that we are in an uptrend.
USD/JPY has been in an uptrend for almost a full week now. This means that buying is becoming more and more tricky. Remember to always try to buy low and sell high.