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...
Technical Analysis and Outlook
Most Asian markets opened positive, while the Nikkei index is heading towards Mean Resistance 23499 after a higher closure on short covering and bargain hunting as expected. The Dead-Cat-Bounce stage advancement scenario might address the pullback target to Key Support 22316 or thereabouts.
Nikkei short-term Elliott wave view suggests that the decline to 22161 on 9/06/2018 low ended red wave 2. Above from there, red wave 3 remain in progress, nesting higher in an impulse structure. With lesser degree cycles showing sub-division of 5 waves structure in each leg higher i.e black wave ((i)), ((iii)) & ((v)) expected to unfold in 5 waves...
Nikkei with a lot of upside potential. Room for a larger timeframe downward rotation in the near future, until that time i'll be fading dips at marked zones dependent on approach. Context is everything. Happy trading
The Nikkei Index had left the positive trend channel after forming a diamond pattern. It fell on the support at 20.600 (fib retracement 61.8%) and rebounded on this level.
Since march 26 it has risen with volatility and reached the lower limit of the trend channel.
It took some days to break through this resistance and it is still not for sure that it´ll stay...
It is good to see the Nikkei index is doing exactly what we expected.
It shall go to 22972, 22700 level.
It has a better edge to stay on Short/Sell side right now.
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
The risk of trading in securities...
Analysis & Forecast #NI225 for 2018 based on Pitchfork Trading Strategy
Current price has break Median Line and moving towards Upper Line
High Probability price hit Upper Line Opportunity to Long NI225
We are a massive rush in this index and almost of shorts get stopped out upon the breakout.
Now it is forming a new base near 23,470 or 23,000 level.
It is still in an obvious strong uptrend but it also "still" chances to swing back to these obvious levels; 23,470 or 23,000 level.
DO NOT short with big lot size and ready to run if things do not look good....
short the nikkei at 23600 as all stock ,in oberboght + euphoria,maybe the mast rally before a big correction,but for now i will wait the real signal and play just sup and res
But true that is very crazy in stock market like just in feb 2016 you put just 10 000$ on nikkei who was around 14500 and now 2 years after at 23500//humm you get a big jacpot and same for...
We are in prolong sideway movement in Nikkei, It is a sure sign of extreme ranging.
If you use Bollinger band which is not useful or rather a pretty useless one, it will show you sideways tight range too.
It is making a small bullish higher high for now, but it doesn't really say of the extreme bullishness.
Watch important levels such as 23100 or 23400 level....
Nikkei is testing nerve of traders. Markets will not always agree with you.
Remember this is what the market does. Whenever there is a winner, there will always be a loser. We should stay out of the kitchen if we do not like the heat.
Anyway. the bull side is fighting back on Nikkei.
To reaffirm the bearishness, we need to see 22,600 level (watch 1)need to get...
Do not be so bothered a daily nomial swing. It is the best way to get high blood pressure.
I am still standing with BEAR and I am waiting for my BIG pay day.
Let's see. I can be wrong as well.
Trade Safe and read the disclaimer, too,
The information contained in this presentation is solely for educational purposes, and does not...