Japan 225
Nikkei approaching resistance, potential drop! Nikkei is approaching our first resistance at 22630.1 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 20855.7 (50% Fibonacci retracement , horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.
Nikkei approaching resistance, potential drop! Nikkei is approaching our first resistance at 22630.1 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 20855.7 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Nikkei approaching resistance, potential drop! Nikkei is approaching our first resistance at 22630.1 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 20855.7 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Elliott Wave View: Nikkei Rally Likely Fails for DownsideElliott Wave view is calling an end to Nikkei’s rally from December 26, 2018 low with wave X at 21884. The Index should resume the move lower and should eventually break below wave December 26, 2018 low. Or at minimum, the Index should do a larger 3 waves pullback to correct the cycle from 19055 low. Down from wave X at 21884, the decline is unfolding as a zigzag Elliott Wave structure where wave ((a)) ended at 20680. Internal of wave ((a)) subdivides as a 5 waves impulse.
Wave ((b)) bounce is currently in progress as a Flat Elliott Wave structure. Up from 20680, wave (a) ended at 21520 and wave (b) ended at 20705. Internal of wave (a) unfolded as a double three Elliott Wave structure. Up from 21520 low, wave w ended at 21410, wave x ended at 21015, and wave y of (a) ended at 21520. Internal of wave (b) ended as a zigzag at 20705. Wave a of (b) ended at 21160, wave b of (b) ended at 21505, and wave c of (b) ended at 20705. Wave (c) of ((b)) is in progress as a 5 waves impulse. The rally should fail below March 4 high at 21884 for further downside. We don’t like buying the Index and expect rally to fail for further downside as far as pivot at 21884 high stays intact.
Not a Fan of that Resistance or PerformanceWhile there is much room to go before we hit resistance, I am really not a huge fan of this overall lackluster performance. Keep in mind, the BoJ owns upwards of 80 percent of the entire Japanese ETF market. 80 percent. Let that sink in. Also, export data is weak in an economy where exports make up 18 percent of GDP. If we gain five percent from today, nobody will be happier than me as my overall macro view will gladly change. I can sleep at night being wrong on five percent. But really though what could possibly lead to that given the last three months where some Asian markets like the Shanghai Composite would gain 5 percent in a single day while Japan is asleep? Just not convinced. More fundy and technical analysis on Asian markets as they move today here: anthonylaurence.wordpress.com
A bit unsure stillNikkei 225 is a bit tricky. Good fundamental data out of Japan such as dovish monetary policy, but weak export figures which is why its down today. Technically, we are well above most exponential moving averages, but stochastic reads overbought while momentum suggests we are still headed in an uptrend. Overall, not enough signals for one way or the other.
Nikkei 225 - Bullish Market With New OpportunitiesThe daily timeframe - the price broke a downtrend line and moved above SMA100. It confirms a trend reversal and new bullish market conditions.
The 4H chart gives a stable uptrend where the price reached a key zone where we can get possible trading opportunities. The resistance level at 21500 can be used with a breakout signal for buying. The entry level will be far from the better buying levels at the uptrend line. Probably it will be a good option to wait for a retracement to the uptrend line. Buy trades opened at the uptrend line will have less stop size and more space for upward movement. If you like a good risk-reward ratio, you should wait for reversals from the uptrend line and open buy trades based on them.
The breakout above 21500 resistance will be able to confirm the strength of bulls and further upward movement. The market will be able to reach the resistance zone between 21850 and 22000 levels. This zone should be used for fixing profit from buy trades.
Signals from indicators:
- MACD supports the further upward movement
- DMI is bullish, but ADX line falls below 20 signal level. It tells us about range market conditions. What does it mean?
Probably we will get a false breakout above 21500 resistance and the market will move sideways to the uptrend line. Buying from the uptrend line based on a reversal signal will be more logical in such market conditions. For confirmation of the breakout, it will be better to get the proof of bulls' strength from DMI indicator. For this, ADX line will have to start an upward movement, and for the perfect model, it should move above 20-25 levels.
Nikkei225 (NI225) LONGI am expecting price to rebound from the bearish streak at the 20742.2 price level, which also represents a fibonacci zone. However, it should be noted that the price is creating somewhat a triangle pattern and it is thus wise to watch out for further downside movement below the 20742.2 price level as prices might be heading to retest the upward trendline from the monthly timeframe. Either way, i will only wait for long trades one this one
Long Term Trend for Nikkei on Weekly ChartSELL When:
- Touches the RED Line with RSI reaches 70
- Bearish RSI Divergence occurs
BUY When:
- Touches the GREEN Line with RSI reaches 35
- Bullish RSI Divergence occurs
Nikkei 225 approaching resistance, potential drop!Nikkei 225 is approaching our first resistance at 21868.6(horizontal swing high resistance, 100% Fibonacci extension , 78.6%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 21159.1(23.6% Fibonacci retracement , Horizontal swing low support)
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
SHORT Nikkei 225 approaching resistance, potential drop!Nikkei 225 is approaching our first resistance at 21868.6(horizontal swing high resistance, 100% Fibonacci extension , 78.6%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 21159.1(23.6% Fibonacci retracement , Horizontal swing low support)
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Nikkei Index completed a Bearish Bat patternNI225 gapped up in the morning to complete the Bat pattern.
This will be inline with the potential bearish views on the Dax too
Nikkei Stock Index (Plenty of Potential Upside)
View On Nikkei Stock Index (17 Feb 2019)
We are seeing possible further upside on Asian Stock Markets especially Nikkei Stock index.
It is indeed priming for a breakout.
The level 21,500 will act as immediate resistant but it shall be broken up sooner or later.
The next strong resistant (TP) region will be 22,250.
Do your own due diligence (DYODD), All the best and Read the disclaimer.
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Nikkei could be in troubleI outline why on this 2H time frame the greater probability for the Nikkei is for the south. How far south is another issue. No predictions - as usual.
Nikkei bearish wedge This index made a big rally the past week or two, while the rally was much weaker the first 5 weeks of this year compared to other indices. With this rally of the past 2 weeks, it looks like it is slowing down in the form of a bearish wedge. Seems a break has already happened so normally the high should be set already. The target of the wedge is around the yellow circle, but there is a chance it will drop even more. It is still above a support zone though, but i think if that one breaks, we should see a small acceleration
Similar Nasdaq analysis:
Nikkei approaching resistance, potential drop! Nikkei is approaching our first resistance at 21088.5 (horizontal pullback resistance, 61.8%, 38.2% fiboancci retracement) where a strong drop might occur to our first support at 20355.7 (horizontal swing low support, 38.2% fiboancci retracement).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.
Elliott Wave View: Further Rally in Nikkei FavoredShort-term Elliott wave view in Nikkei suggests that the Index has ended correction at 20169 as wave ((X)) and starts a new leg higher. Decline to 20169 on 8 February took the form of an Elliott Wave Expanded Flat. An Elliott Wave Flat structure has an ABC label with subdivision of 3-3-5. We can see from the 1 hour chart wave (B) of this FLAT ended at 20970 and wave (C) ended at 20169. Subdivision of wave (C) unfolded as a 5 waves Impulse Elliott Wave structure. Down from 20970, wave 1 ended at 20815, and wave 2 ended at 20895. Wave 3 ended at 20270, wave 4 ended at 20370, and wave 5 ended at 20169.
The Index has since rallied and broke above the previous high on February 5th, suggesting the next leg higher has started. Rally from Feb 9th low (20169) is unfolding as a 5 waves Impulse structure. Up from 20169, wave 1 ended at 20480 and wave 2 ended at 20390, wave 3 at 21198 and wave 4 at 21060 low. Expect ideally 1 more leg higher in the Index to end the 5 waves up. Afterwards, it should pullback to correct the cycle from Feb 9 low within wave (B) in 3, 7, or 11 swing. As far as pullback stays above 20390 low, expect the Index to extend higher. We don’t like selling the Index.
NI225 H4Price has broken the descending trendline, along with resistance & trend structure. Will be anticipating price to now make its way higher..
