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...
Elliot Wave outlook.
In a long term bull run how does someone use elliot wave practically to make $$?
= Segmentate the prior impulse and corrections, and take advantage of the intra-day moves within the structure.
Currently, JPN225 is testing whether it can pass the resistance and showing the sign of a double top. Yet, if it passes the level, we shall see a new current high since 2019 and a new chapter will begin.
Ultimately the drawing pretty much sets out the trade idea here.
The trade Idea is only valid if the market breaks the level marked below the current indecision. I have taken the aggressive entry as this suits my trading strategy to take opportunities with huge Risk:Reward ratios on the acceptance that I am likely to lose more than I win, but the winners far out...
JP225USD has just confirmed a bullish bat harmonic pattern on the 1-hour timeframe.
The potential reversal zone (PRZ) is comprised of 3 ratios:
0.886 XA retracement at 21357.1
2.0 BC projection at 21370.5
1.618 alternate AB=CD at 21407.2.
Stop loss is set at the 1.13 XA projection, or 21216.0.
Take profit is set at two levels, management and...
As all Indexes had a strong bull rally from the lows, maybe the time to look for a correction here.
1. I would not short US indexes, because the US Stock markets are way stronger than NIKKEI for example.
2. YEN is on falling wedge support and last fibonacci support.
3. NIKKEI (as other indexes) facing zone of resistance here.
I look for weakness (break of first...
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...