EWJ(D) Bearish Gartley Geo Potential
Structure looks similar to all of the other corrective bounces, and they don't have FAANG stocks to pump, although I'm sure they watch Netflix. Will buy puts tomorrow depending on what their market does overnight So far futures look weak.
Japan ETF is pulling back into a great support area to give a good R:R long entry
Looks like we are on our way up towards a double top , before a calamitous drop back to February lows. Views obviously subject to change, but for the moment, the coast seems clear for the bull
Should equities break down further I will buy at these levels. Note that today (Mar 25) it is resting at support but other equity indices eg US have further to fall, so I think more decline is possible. And if so this is where Id enter
EWJ(4hr chart). Bearish Bat, AB=CD. Exhaustion Gap.
Long at 53.01/53.02 here. Hard stop @ 52.70. Take profit to be updated
Previous trend line (should act as support) and 3 MA lines will try to support $EWJ breakout attempt If that breakout is real EWJ should bounce from here higher If it'll close below the 200 days MA line - BOOM! Crash and burn.. Tomer, The MarketZone www.themarketzone.net Follow my blog - marketzone.tumblr.com Subscribe to my Youtube channel - www.youtube.com
Solid support at $11 could suggest a bullish descending triangle continuation pattern
Buy the pull back around 11.50.11.70 and target $12.25-12.5