Hello everyone,
I hope your week is going well and that you're experiencing success with your business deals.
I've analyzed some data using the Elliott wave principle and wanted to share two ideas with you.
You can find all the relevant information in the chart attached.
I appreciate your ongoing support and wish you all the best!
premature buys on this cash index, nice to trade with low capital and big leverage for more meaningful return also a not too volatile. lets see the play
Nikkei is at a cycle point where it risks a big fall if the cycle structure is maintained
It will be the third repetition of this construction in Nikkei
In the previous two the cycle followed similar structure
The fractal is the 3 year pattern in DJIA from May 1970 to January 1973
The time elapsed for the completion of the structure has been similar so far...
Like most of the global indices, Nikkei also had a good run this year.
However, since mid-June, the index started to lose its power and has drawn a Doube Top pattern on our charts.
The start of the week brought the break under the neck-line support of the pattern and Nikkei could continue to the downside.
Levels to watch for bears are 31100 old congestion which...
Expect near term to short term correction to retracement as shown on the chart.
Critical support at current level even as trend line breakdown has been witnessed.
Negative divergence on RSI
Macd is below it average as shown via macd histogram.
As long as 34k is not crossed on closing use rise to book profit and can be used for distribution.
Expect retracement as...
NIK225 - 24h expiry - We look to Sell a break of 32298 (stop at 32548)
Selling pressure dominated price action yesterday and we expect this to continue today.
Previous support located at 32303.
With the Ichimoku cloud resistance above we expect gains to be limited.
Further downside is expected, however, due to the strong support below we prefer to sell a...
We have a nice little bearish CTS (Combined Technical Score) setup happening here on the JPN225 with price action currently trading at a previous level of structure resistance.
On the higher timeframe we already have a double top, with the RSI overbought & showing bearish divergence & on the lower timeframe we have the same setting up with the added bonus of an...
NIK225 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Price action looks to be forming a top.
A lower correction is expected.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Further downside is expected although we prefer to sell into rallies close to...
There is Bearish Divergence on both the RSI and MACD at the PCZ of a Bearish Butterfly, and there will hardly be any support until we reach the 1.618 Fibonacci Extension down at 18627JPY, but from the looks of it, it will likely be a very fast drop followed by an even faster recovery, but in the meantime the JPY could gain some strength.
NIK225 - 24h expiry - We look to Buy at 32465 (stop at 32165)
Price action has continued to trend strongly lower and has stalled at the previous support near 32712.
A Doji style candle has been posted from the base.
Price action looks to be forming a bottom.
This is positive for sentiment and the uptrend has potential to return.
Preferred trade is to buy on...
The past week has had plenty of developments for many financial instruments across all markets. COINBASE:BTCUSD has slid to the downside, Major US Indices have also see a decline. JPY 225, the major stock index in Japan has reacted quite aggressively to the movement of the US Dollar.
The JPY 225 index is one of the indices we have identified to be strongly...
From Fibonacci extension level, we have potentially reached the end of wave 5. The recent up move is also preceded by a triangle.
On my previous post on Nikkei 225 on a shorter timeframe identifying a h&s setup also confirms that the peak was in.
Jp225. Was trading in an uptrend .. but price started to range. Price broke the support of the range and the strong Daily uptrend with an increase in trading volume on the shorts. Strong sell for the assignment stock
This week could be the worst for stock markets in 3 months after a series of interest rate hikes by central banks, writes Bloomberg.
The UK and Switzerland raised the rate by 0.25%. While the US Fed has left rates unchanged for now, Jerome Powell said another rate hike or two may be needed in 2023. Higher-than-expected inflation in Japan has also fueled...
