This double top in the Nikkei would suggest about a -15% drop from current levels if it plays out. Break of the neckline and being long JPY (short XXXJPY) would be a way to play this like short EURJPY or NZDJPY
Short position below 28219.98 with target at 26203.5 & 25522 in extension.
Daily Pivot : 28219.98
My move : Short position below 28219.98 with target at 26203.5 & 25522 in extension.
Other possibilities : Above 28219.98 look for 28856 & 29465 as target.
+ reason : RSI is bearish and further downside
Idea for Nikkei:
I'm waiting for Asia markets to drag down US markets, but why not just short Asia itself first?
- The sugar rush of QE is over, and Japan is rolling over. Expecting its bear market since Feb to resolve in a capitulation at least down to a monthly support.
- Nikkei under 100D and 9M and at critical support. (50W)
- Expect to quickly capitulate to...
Price failed to break previous low creating today a higher high on the daily chart, indicating a possible market structure shift. RSI three touch bullish divergence. Market structure broke previous minor resistance adding another confluence. Overall bigger trend is bullish while minor trend is bearish. Looking for a break of the flag and continuation. Usually this...
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...
Nikkei 225 - Great Trade Opportunity!
What a great set up, right? I've been shorting NI225 for while. If you're subscriber of our weekly newsletter, you probably got in earlier at a better risk/reward! If you are subscriber - Thanks I appreciate it and if you aren't you're missing out! I post my analysis late on Trading View for great trade ideas...Subscribe now...
TVC:NI225 is in a descending channel, but in a bigger timeframe it looks like a bullish flag to me. Besides that, it hit key Fibonacci levels rebounded from there. I am bullish until above 30000.
The fundamentals are still bullish for me as the opening-up party just begun. However expect wild swings, as the speculators tried to "price-in" the opening up with...
Price has come down to bottom of the range activating my buy limit, I'm anticipating it will return to the top of the range with assisted volume from US markets open. I also have a stoploss below range low