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...
That's all it is at this stage. I am not looking to buy the Nikkei index, but a number of interesting individual stocks mirror this wider theme. Sort of a lower swing high being set and "one more drop" to set a higher low then off we go sort of thing. Let's see.
Short to short-mid bearish, medium term to long term bullish.
4H CHART EXPLANATION:
Main Items we Observe on the Chart:
-Price has broken the ascending trendline
-Currently, price is on a support zone
-We will wait for a corrective structure on the support zone before taking any trade
Based on this if the price breaks down with a close candlestick below 20718.0 we expect a continuation of the downward movement towards...
Our Elliott Wave view on Nikkei suggests the rally to May 4, 2019 high (22505) ended wave w. This ended cycle from December 26, 2018 low and the Index is in the process of at least doing a larger 3 waves pullback. Short Term, decline in Nikkei from May 4, 2019 high is unfolding as an Elliott Wave impulse structure. Down from 22505, wave 1 ended at 21935 and wave 2...
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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)
Elliott Wave view is calling an end to Nikkei’s rally from December 26, 2018 low with wave X at 21884. The Index should resume the move lower and should eventually break below wave December 26, 2018 low. Or at minimum, the Index should do a larger 3 waves pullback to correct the cycle from 19055 low. Down from wave X at 21884, the decline is unfolding as a zigzag...
While there is much room to go before we hit resistance, I am really not a huge fan of this overall lackluster performance. Keep in mind, the BoJ owns upwards of 80 percent of the entire Japanese ETF market. 80 percent. Let that sink in. Also, export data is weak in an economy where exports make up 18 percent of GDP. If we gain five percent from today, nobody will...
Nikkei 225 is a bit tricky. Good fundamental data out of Japan such as dovish monetary policy, but weak export figures which is why its down today. Technically, we are well above most exponential moving averages, but stochastic reads overbought while momentum suggests we are still headed in an uptrend. Overall, not enough signals for one way or the other.
View On Nikkei Stock Index(5 Mar 2019)
It has been going up recently and now we are at a strong resistant level of 21,765 regions.
That region may cause the market to pause and may even pull back down first.
If you want to long, I suggest you should rather wait at lower and strong support level such as 21,000 or even 21,200.
If there is any changes, I will...
Nikkei 225 is approaching our first resistance at 21868.6(horizontal swing high resistance, 100% Fibonacci extension , 78.6%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 21159.1(23.6% Fibonacci retracement , Horizontal swing low support)
Stochastic (89,5,3) is also approaching resistance where...
Short-term Elliott wave view in Nikkei suggests that the Index has ended correction at 20169 as wave ((X)) and starts a new leg higher. Decline to 20169 on 8 February took the form of an Elliott Wave Expanded Flat. An Elliott Wave Flat structure has an ABC label with subdivision of 3-3-5. We can see from the 1 hour chart wave (B) of this FLAT ended at 20970 and...
Nikkei is approaching our first resistance at 20899 (100% fibonacci extension, 50% fibonacci retracement, horizontal pullback resistance) and a strong drop might occur below this level pushing price down to our major support at 18995 (61.8% fibonacci extension, horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance and we might see a...
The correction of Deep dive from 21600 to 19000 seems to be blocked by 20200 resistance.
An ascending triangle pattern is being printed on H4 Chart. - Potential bearish continuation pattern. -
Short at the potential breakout.
Bullish breakout would be validated at 20225.
Nikkei short-term Elliott wave view suggests that the cycle from 10/01/2018 peak is showing 5 swings bearish sequence. This favor more downside to 19073-16773 100%-123.6% Fibonacci extension area to be reached in 7 swings before support for bigger 3 wave bounce is seen at least. The decline from 10/01 peak is showing overlapping price action thus suggests that...