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.
Japan 225
NI225 H4Price has broken the descending trendline, along with resistance & trend structure. Will be anticipating price to now make its way higher..
Risk on catching market off guard,high conviction Long Nikkei225Weekly Insidebar pushing higher towards 22500 level.
Risk on continues, JGB yields bottomed. Path higher is clear
Nikkei approaching resistance, potential drop! Nikkei is approaching our first resistance at 21016.0 (horizontal overlap resistance, 38.2% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 18360.0 (horizontal swing low support, 61.8% fiboancci extension, 61.8% fibonacci retracement).
Stochastic ( 55,5,3) is also approaching resistance where we might see a corresponding drop in price.
NIKKEI - Daily Key Elements Key levels to look out for, please refer to our 4 hour chart for a strategic view!
NIKKEI: Are you ready? Get ready.In the screencast I show the evidence of a setup that is approaching, for a nice controlled loss. Loss? Nobody want's to hear about that - but it is exactly what we do!
Key points:
1. Alternate ABCD pattern with a C-point at 50% (Scott Carney criteria).
2. Zone of congestion.
3. Probabilities for the south based on ATR-based indicator and GMMA.
4. Time momentum favouring the bears.
5. Weak bullish rebellion.
I am of course delighted to learn if others have a different perspective based on the technical position.
This post is not a recommendation to short or a prediction. I have labelled it as short because that is potentially what it is.
Nikkei 225 Danger See 4 Yourself Not Advice DYORCheck yourself. Take current RSI levels for $NI225 and $TNX. Find best matches. I've picked out maybe the best two. Do you see what I see? Not Advice DYOR
Nikkei Moving in Downtrend I think Nikkei will move in a downtrend next days and I have many reason for this claim
it's at a resistance zone . Broken support transform to resistance
it's near PRZ of the Bat pattern
The RSI indicator is moving in downtrend and touched the trend line.
Nikkei approaching resistance, potental drop! Nikkei is approaching our first resistance at 21081.4 (38.2% Fibonacci retracement, horizontal pullback resistance, 100% Fiboancci extension) where a strong drop might occur below this level pushing price down to our major support at 20132.9 (horizontal overlap suport, 50% Fibonacci retracement).
Stochastic (89,5,3) is also seeing a bearish divergence and we might see a corresponding drop in price.
Nikkei vs Japanese YenThank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Japanese Yen vs NikkeiThank you for following and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. CozzamaraDaZena is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Nikkei approaching resistance, potential drop! Nikkei is approaching our first resistance at 21088.5 (38.2% Fibonacci retracement, horizontal pullback resistance, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 20132.9 (horizontal overlap support, 50% Fibonacci retracement).
Stochastic (89,5,3) 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 21142.6 (horizontal pullback resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 20082.9 (horizontal overlap support, 50% Fiboancci retracement).
Stochastic (89,5,3) is also approaching our resistance where we might see a corresponding drop in price.
NIKKEI: time to sellThe price of the index in the last two sessions has touched the resistance set at 20900 points, recovering over 1600 after the minimum marked between 25 and 26 December. The price remains bearish: after the high recorded in October 2018, in the short/medium term has remained almost constantly below the intersection of the main EMA, the key resistance level for attend inversion. After the recovery of these first days of 2019, the price seems to have found (in the static resistance at 20900) a point of restart on the downside: if the EMA 20 periods was broken down (at this time passes for the 20540 points) you could think of a short entry with targets below 18,000 points.
The publication of tonight's monetary policy should help this trend, despite not expecting a change in interest rates, the governor of the Japanese central bank could make investors understand that even the expansionary policy implemented for years could change, as all other central banks are trying to do.
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NIKKEI (JAPAN225) SELL SET UP ENDING DIAGONAL C WAVENIKKEI (JAPAN225) SELL SET UP ENDING DIAGONAL C WAVE
NIKKEI225: 4H - Fractal (Readjusted)Current fractal tracking on the Japaense index NIKKEI225 on the 4H time frame readjusted.
NIKKEI225: 4H - FractalCurrent fractal tracking on the Japaense index NIKKEI225 on the 4H time frame.
JP225USD SHORT OPPORTUNITYits likely to going down bcoz there's a HnS pattern. Good reward and risk rasio 2:1. place stoploss with some buffer above the right shoulder
Nikkei approaching resistance, potential drop! Nikkei is approaching our first resistance at 20468.6 (100% Fibonacci extension, 23.6% Fibonacci retracemen, Horizontal pullback resistance) where a strong drop might occur pushing price down to our major support at 19334.1 (horizontal swing low support, 76.4% fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.
Nikkei Approaching Resistance, Potential Reversal!Nikkei is approaching its resistance at 20913 (100% Fibonacci extension , 50% Fibonacci retracement , horizontal pullback resistance) where it could potentially drop further to its support at 19103 (100% Fibonacci extension , horizontal swing low support).
RSI (55) is approaching its resistance at where a reversal could occur.
