Short Term Elliott Wave View in Nikkei suggests the decline to 19900 on August 6 ended wave (3). The Index is currently in wave (4) bounce and the internal subdivision is unfolding as a double three Elliott Wave structure. Up from 19900, wave W ended at 20795 as a zigzag. Wave ((a)) of W ended at 20650 and wave ((b)) of W ended at 20220. Then the move higher to...
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NI225 has been labeled within a Grand Super-Cycle degree wave B (pink), which has been unfolding ever since the Tokyo Stock Bubble back in 1990.
Structure - Flat Formation
1990 bubble peak and down until Apr 2003 bottoms - Super-Cycle (w) (purple)
The futures of Japanese index Nikkei 225 (NKD) it's been traded mostly bearish. During this month, NKD eases 4.98%. In this post, we'll review the short-term Elliott Wave structure and what to expect from this index for the coming days.
Australia's primary equity index (ASX) is seen here through the S&P/ASX index (XJO). Here we can see that ASX is retesting its prior highs from 2007 before the great recession hit. Will be watching for a good-sized pullback soon given the vertical run that the ASX has been on this year. Will that have any impact on the U.S. or other major stock markets? Not sure,...
The Nikkei is showing a potential head and shoulders pattern on the 2 hour chart. If we do break below the support at 21620,
then we would await for a lower high which would be a retest of the break.
However, ideally, would like to see a bounce and then a lower high which would make the head and shoulders pattern.
Price is turning at a resistance zone (21800)...
Cad has been showing weakness across all pairs, so this may be a turning point for price. Volume was strong at the beginning of today (July 21st), and price as fallen past the area of opportunity triggering an entry.Taking 50% of profits by 100 pips and letting the trade run.
Trade at your own risk under your own terms. I'm not responsible for anyone's decision...
AUDJPY is on it's way up. My area of opportunity highlights the area of my entry. Being so close to a high volume price and low volatility will provide a violent move to the upside. Taking 50% of profits by 100 pips and letting the trade run.
Trade at your own risk under your own terms. I'm not responsible for anyone's decision to follow MY idea.
Considering many positive factors in the worlds politics and economy JP225 has a great chance to rise in next week.
Also, other indexes can rise, but JP225 has the greatest technical levels to minimize possible risk.
If something important happens, I will update the post.
We have decided to take a bullish trade at 21309 with a Global Stop Loss(GSL) at 21100 and a Global Profit Target at 22498
The Primary Trend (PT) given by the Monthly TIME BAR (MTB) is currently Bearish
The Secondary Trend (ST), given by the Weekly TIME BAR (WTB) is currently Bullish
The Medium Term Trend (MTT), given by the Daily TIME BAR (DTB) is currently...