In the other hand if we have a bull trend, then wave 1 is completed, then wave 2, then wave 3, and now we are in wave 4. the a:4 is completed. if we see a reaction from here it means wave b:4 is completed. then we can go for short trade on wave c:4
W has been completed. If we see a reaction from here it means this price is a resistance and probable wave X is completed. then we can see a decline for wave Y.
Do you want to have a piece of that Olympics profits ?
If you condense the chart close enough, you would notice last Christmas (25 Dec 18), there is a inverse H&S pattern displayed nicely. Approximately at 20,163 acting as the support , the Nikkei 225 has not look back since, galloping its way to the rising sun.
With the forthcoming Olympics in 6 months...
The Nikkei 225 is an interesting index to trade. Currently, it seems to me that we are having a downturn for wave 4. Even though on the macro level we an explain it with the US-IRAN conflict, for the market, it is still a perfectly healthy move. If I am not wrong, after this downturn, we have one more leg up to just above the previous high made by wave 3 before we...
Jpn225 - bearish outlook on the japenese nikkei index as price action is pressed below weekly supply. Current strength in jpy could continue if nikkei takes a dive.
It appears that bearish sentiment is popping up in the #Nikkei #NI225 as the new year begins.
This can be seen through the fact that i) price has fallen out of the (Green) Upward Channel, ii) the bearish divergence (Green Trend Lines) between the price and RSI, and iii) a bearish MACD.
As we get back to normal next week, time will tell as to how this trend will...
