Bank of JAPAN ready to print $$$$the chart posted is the japan 225 index and is now labeled We are ending a wave 4 of 3 or wave 4 of C now it is ready to rip
JAP225 trade ideas
ANALYSIS ON W1Nikkei 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 too
Fractal in DJIA
Current in Nikkei
Trade safe, goodluck
Nikkei- Break of Double top's necklineLike 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 also coincides with the measured target of the double top and the important 30k figure.
I'm bearish as long as the price is under 33200
NikkieExpect 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 shown in chart to be tested
Nikkei to continue in a selloff?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 break of 32303, which will confirm the bearish sentiment.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be 31698 and 31598
Resistance: 33205 / 34015 / 35090
Support: 31410 / 30300 / 29235
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JPN225 - CTS Trade & Using the CORRECT Cypher Pattern ToolWe 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 at market bearish Cypher pattern.
*We also take a look at why it's important to use the CORRECT pattern drawing tool when looking at Cypher patterns.
Please leave your questions & comments below & remember to show that rocket some LOVE!
Your Trading Coach - Akil
Nikkei to stall at current swing high?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 the 33177 level.
We look to Sell at 33177 (stop at 33477)
Our profit targets will be 32427 and 32227
Resistance: 34014 / 35000 / 36110
Support: 32610 / 32200 / 31410
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Nikkei 225: Bearish Divergence at Bearish Butterfly PCZThere 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.
Nikkei to stem dip again?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 dips.
Our profit targets will be 33215 and 33355
Resistance: 33205 / 34015 / 35000
Support: 32610 / 32200 / 31410
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
JPY stock basket Reacts To US Dollar RallyThe 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 inversely correlated to the dollar index. As can be seen in the chart (The US Dollar index chart is the grey line chart). The reason for this correlation is quite lengthy. But it largely has to do with the US being the biggest consumer of Japanese manufactured products.
That being said, we've seen the US Dollar index Break lengthy bearish trends this past week. And Subsequently, The JPY 225 has done the exact opposite. If we ought to trade the JPY 225, We would be looking for short positions. And as can be observed in the charts, those who trade chart patterns would identify Head and shoulder on the JPY 225- Signaling the beginning of a potentially strong bearish trend. The Market has also broken a bullish trendline channel which confirms a potential long-term reversal.
In order to track the movements of major instruments we will look at how the dollar index moves in the coming week. Since there are plenty of US news this coming week, We will see how the overall market responds to those and adjust accrdingly.
Share your thoughts and Let me know what you think about this analysis!
Until Next time.
Stocks Are Falling on the Background of the Activity of Central 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 speculation that the BOJ may adjust its super-loose monetary policy.
At the same time, an interesting situation is emerging on the Nikkei 225 chart. Having broken through the resistance line (1) in May, the Japanese stock index rushed up, attracting bullish speculators. Growth last week was particularly rapid, suggesting that the market is in the climax of the upward momentum. And the downward movement this week confirms this assumption. A bearish engulfing pattern may form on the Nikkei 225 chart, and, remarkably, if this happens, it will be at the border (2) of a large parallel channel, which begins in the first month of 2021. Thus, the area around 33,000 shows its strength as a resistance and can be used by the bears to build their trading campaigns.
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NIkkei 225 Short: Potential H&S SetupAs shown in the chart, it is possible that Nikkei 225 is going to see a fall to the support later today and continue falling through to reach the initial target of 32580.
A stop loss at 33808 and entry price at 33510 will give us a RRR of 930/298 = 3.12. Or a late entry will still be around 3 for the RRR.
Good luck!
JPN225: Ascending Channel UptrendThe JPN225 has been steadily advancing within the confines of an ascending chanel. This pattern suggests a series of higher highs and higher lows, reflecting consistent buying pressure and an overall bullish bias.
Within this ascending channel, a symmetrical triangle has formed. The triangle is characterized by a converging range of price action, as both the swing highs and swing lows gradually converge toward a breakout point. The narrowing range indicates decreasing volatility and potential pent-up momentum.
JPN225JPN225 (Nikkei 225) is showing a bullish flag pattern, RSI divergence, and a double top reversal pattern. Traders are advised to wait for a breakout below the last printed lower low point to consider a short trade, indicating a potential trend reversal in the market. Risk management is essential.
NI225 has closed positive for 9 consecutive weeks !NI225 has closed positive for 9 consecutive weeks !
Is it about to reverse?
This chart shows the weekly candle chart of the Nikkei Stock Index from the end of 2019 to the present. The graph overlays the line between the low point in 2020 and the low point in March 2023, the line between the low point in 2023 and the sub low point, as well as the horizontal line of the short start position in September 2021 and the horizontal line of the long start position in April 2023. As shown in the figure, the Nikkei Index has closed positive for 9 consecutive weeks and has exceeded its limit! In the next week, as the strongest Nikkei index in the near future, there is a high probability that it will lead the global stock index to retreat, probably by stepping back on the top diagonal line in the chart, and then choosing a direction!
