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Japan225

JPN225 Potential Bat pattern completionHere we got a Bat to look out for tonight, its against trend so we only go for target 1 to protect capital. RSI is on its way to over bought condition. Today we got a hit on the AUDCAD Bat, but got a target 2 winner in a Bat on GER30 index. Currently we are in a short position on a Cypher on USDCAD. And we just entered long on a Cypher on EURUSD so lets see what numbers we wake up till tomorrow for those that follow me. I will try more and more to begin to put up every trade that i take so those that are interested in Harmonic patterns can get a better feeling of how the daily grind is for this method. The good weeks and the bad. Kind regards Thomas Jeff
FX:JPN225Short
by UnknownUnicorn101425
1
Japan 225 - Strong ShortJapan 225 in the long term may be a good short which could show to be VERY profitable. Japan has been forming lower highs since 1991 which the next one I believe has just formed, as it did not break the last high. A doji has formed on the last potential lower high which shows indecision in the market after a bullish move since 08/2012. After the doji was formed a bearish candle is potentially forming. If you go onto the daily time frame you will see a double top forming which is just waiting for a bearish move over the neckline to confirm it, which target one has been stated at 16,528, which there is a past resistance/support on/around this level. This is just a target from the double top, on the monthly time frame which you are currently looking at, a much larger potential bearish move is expected. The double top, if formed would then be seen as confluence. Stochastic is also showing this to be overbought with a crossover which occurred on the last candle, and if you look at the past lower highs you will see that they were all in overbought condition's which were followed by crossovers. Confluences; - Lower Highs - Overbought stochastic - Double top forming on the daily time frame - Doji formed on potential lower high
FX:JPN225Short
by forextrader1088