Nikkei 225 JPN225 CFD
NIKKEI On the road to the Quadruple Top Main items we can see on the chart:
a) The price was on an ascending trendline and at the beginning of 2020 we had a huge bearish movement
b) Since then the price has been rising and re-entered the ascending trendline
c) Currently, we can see a corrective structure (purple lines) and we expect a bullish Resolution IF the price breaks the upper line
d) The Target we will be aiming for is the quadruple top in the historical higher highs zone
e) Another detail to add to the chart is that we have a huge ABCDE Pattern. This type of structure is bullish from a technical perspective
More Bullish potential on NIKKEI by ThinkingAntsOkMain items we can see on the chart:
a) The price has re-entered a broken ascending channel (yellow lines)
b) After that, we observed a corrective formation above it (purple lines)
c) We expect a bullish resolution of this correction based on Technical Analysis Theory
d) Target is the next Resistance zone
CADJPY may sell this zoneHello trader the Tuesday excitement comes again!
for this pair we will entry SELL at the LQ zone or Liquidity (supply zone) it's give the best RR ratio we can take profit at old support 1 2 3 or 4
one thing you must emphasize "Any strategy is not as important as the mind" because the market is not ours
HAVE A GOOD TRADE DAY
NIKKEI225| BUY TRADE📈| TREND CONTINUATION🌟Hypothetical scenario:
(1) Entry @ 22955.0 (Buy LMT )
(2) Stop Loss @ 22928.0 | 27 points
(3) Target @ 23046.0 | 91 points
(4) R:R = 1:3.37
Stay tuned for the updates.
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*DISCLAIMER*
This post is solely for educational purposes and does not constitute any form of investment / trading advice.
Nikkei - rally after a triangle patternThe Japanese main stock index - Nikkei 225 - has rallied after the completion of the ABCDE triangle pattern. The market jumped strongly towards the recent strong resistance which could be located near the recent tops (23980 pts).
If this area is broken we would expect another rally maybe even to 30000 pts. The technicians could also look at the stochastic oscillator how the price would react if it reached the overbought area.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
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Nikkei 225 Index (JPN225) Short Trade Explained
Short trade went active on Nikkei!
Reason:
the price reached a resistance line of a rising wedge pattern on daily
+ double top formation on 1H with a confirmed breakout of minor support.
I entered short based on retest (382 retracement of a small bull leg)
stop - 20585
t1 - 20050
t2 - 19770
risk: 1%