PERFECT H&S Pattern and a great sell opportunityDear fellas,
I've been following JP225USD for a while and it has just bounced off strong resistance around 28350 and it has formed a very clear H&S pattern. This is a high probability trade with a small risk. SL should ideally be above Head (28500).
Target: 26760
SL: 28550
Good Luck and trade safe!
Japan225
JAPAN 225 BULL FLAGReally simple bull flag set up, also for my followers you will notice the rvi bullish cross. look to trade the continuation pattern on the pullback or stop loss as placed. We may see some yen depreciation on oil strength as the catalyst for this move, look out for news events also.
LONG JP225: A great move to the upsidelet's get into practical details without any bullshit in the beginning...
We have some really amazing targets starting with 22750, then 23000, and the last station of testing the all-time high at the level of 24000, but that's not our topic for now, let's take it easy... step by step.
We have a bearish trend since FEB2020 on the D1 chart, the price tried to break it many times without a result. but now, we're almost ready to test it one more time with two amazing structures on the H4 & H1.
Generally, we have H&S on the H4 chart and it was ready to test the neckline when it made a double-bottom formation on H1 chart, so now it's a great position to open a trade with some small targets in the beginning.
Firstly, we are gonna long JP225 with a sl below the bottom in order to test the neckline. 22450 will be a good support to put under consideration when we are attacking the neckline.
Secondly, in case of having a successful H&S, we will wait for the confirmation on the H1 to long it again to test the general down-trend. 22750 will be a good support to put under consideration when we are attacking the trendline.
Thirdly, in case of breaking the resistance, we will fly without mercy to test the all-time high at 24000
I'm following it with you daily to keep you up to date.
Chiao!
EUR/JPY - Monitoring for a potential buyHello traders, as analyzed and same as CADJPY, EURJPY is approaching an area with lots of confluence. Once there, we'll see how price reacts. Potential upside target is marked on the chart.
If you've found this analysis to be helpful for you and would like to see similar ideas in the future, be sure to leave a like and to follow. Thanks.
Cheers!
CAD/JPY approaching a high confluence areaHello traders, as analyzed - CADJPY is approaching an area with lots of confluence. Once there, we'll see how price reacts. Potential upside target is marked on the chart.
If you've found this analysis to be helpful for you and would like to see similar ideas in the future, be sure to leave a like and to follow. Thanks.
Cheers!
Nikkei Break Out Nearing?Our Dax and ESP 35 trades are continuing as mentioned in previous posts. It seems cheap money and easing will keep stocks propped as there will be nowhere to go for yield. Of course, a geopolitical issue or black swan event can nullify this...and I believe there will be a confidence crisis approaching.
However, we will deal with that when it appears and the bond market will give us the signal for this.
I like what I see here on the Nikkei. A nice downtrend with basing/range. You can say a cup and handle pattern too. Let us await for a break above this resistance one.
Other confluences fake out candles and engulfing candles at the major support below, indicating that we may have shown 2/3 market moves (downtrend and range).
Nikkei Potential Head and Shoulders?The Nikkei is showing a potential head and shoulders pattern on the 2 hour chart. If we do break below the support at 21620,
then we would await for a lower high which would be a retest of the break.
However, ideally, would like to see a bounce and then a lower high which would make the head and shoulders pattern.
Price is turning at a resistance zone (21800) zone which adds further confluence.
This is a trade that can possibly play out next week. Keep it on your radar!
NI225 (Nikkei) - Market Crash Cycles | Indices | Macro Trends*Please support this idea with a LIKE if it helps you. Thanks!
More details about me in my signature.
NI225 has been labeled within a Grand Super-Cycle degree wave B (pink), which has been unfolding ever since the Tokyo Stock Bubble back in 1990.
Structure - Flat Formation
1990 bubble peak and down until Apr 2003 bottoms - Super-Cycle (w) (purple)
2003 bottoms up until 2007 tops - Cycle wave a (turquoise)
2007 tops and down until 2008 lows - Cycle wave b (turquoise)
2008 lows and up until present times - Cycle wave C (turquoise), the final leg of Super-Cycle (X) (purple)
Cycle wave C (turquoise)
Pattern - Ending Diagonal
Sequence - 5-Wave Sequence, with Primary Waves 1 2 3 4 5 (green) decomposed as Intermediate (A)(B)(C) (blue)
Current Position
Primary Wave 5 (green)
Next expected swing
Bearish sequence in Intermediate (B) (blue)
Market Crash Forecast
Support granted at or around the 21000.00 mark and then a bull run towards the 27000.00 levels, where Super-Cycle (X) (purple) is expected to complete
Super-Cycle Waves (a)(b)(c) (red) would reflect the next Larger Degree Recession or even a Depression
Structure change:
Breach of the lower trend-line of the Ending Diagonal could reflect the fact that the Market Crash already started.
USD/JPY slump is an ominous warning to stock marketSuch a stiff drop of USD/JPY in the short time showcased the world economy is really in bad shape, and the fundamentals of the US economy may be rigged. When equity debacle has no end in sight, investors rash to JPY to protect their assets. In the least, here in China, the economy slowdown is widespread and far-reaching, I don't see any significant improvements in the first half year, even though the financial system pumped up liquidity into corporation sector.
I believe USD/JPY will most likely continue falling to 104 level or some, then starting consolidation. The downtrend is quite clear as shown in the chart.
Crash or no crash?In this screencast I review a number of indices: the ACWI, US30, NASDAQ100, India50, Japan225 and SPUBYUP.
The picture is pretty grim. Some say that the world is heading into a deep recession that's likely to be worse than 2008. Some of course say 'no chance'.
The India50 and the Brazil60 are the two main indices, yet to take a nose dive.
The India50 is showing some signs of weakening.