NIKKEI 225 Index 5/3The Nikkei Index traded nervously on Wednesday in front of the Fed's announcement as well as US Non-farm Payroll but knowing it will be closed for the rest of the week due to Golden Week holidays. A number of the exporters did find a way to edge ahead. However, results were limited. The overall Index trend sprang out heavy all be it sluggish.
The Index remains above Mean support of 22077 in the past several days, not the time for retracement just yet- first it must complete Index Rally. However, bears are ready to take over, with Key resistance developing at 22457.
Japan 225
Nikkei approaching support, potential bounce! Nikkei is approaching our first support at 22074.3 (horizontal overlap support, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 22423.9 (horizontal swing high resistance).
Stochastic (34,5,3) is also seeing a bullish divergence and is approaching our major support. A bounce off this level might be a good precursor for a potential rise in price.
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Bitcoin: still very bullish as expected so far.As expected, Bitcoin is still in its process of making its strong bull trap (or rally know knows).
We can see that the Fibonacci levels are acting as resistances and these levels can give us signs of when to trigger our sell moves for the alts if you swing trade or day trade (When Btc reaches this Fibo level, it can allow you to sell your alts). But lots of alts seem to have bottomed when we look at their crashing pattern, so it could also be a wise move to Hodl some alts for long term, especially if you managed buying them when Bitcoin was below 7k.
Has Bitcoin bottomed? I still do not think so.
But i might be wrong.
Maybe dictatorships like Russia and other countries see Bitcoin as a safe heaven tool to protect themselves from their volatile and weakened currencies, to escape sanctions, etc.
So there is still a possibility that the prize is so important, that market manipulations would prevent Bitcoin from having a natural crashing pattern. It is still a possibility, as the market is not regulated.
Targets 10.564$ and 11.640$ are yet still possible, such as a target right below the 13.000$.
They might be a bit too optimistic and too bullish, but i still really foresee a possibility to reach these targets.
Nikkei 225 in diamond patternbuy: if price breaks out of this pattern to the top with 1. aim 22.143 pt (fib retracement 78.6%) and 2. aim at 22.763 pt (swing trend line)
another active chart pattern is the existing trend channel which can be considered as strong because it has been tested on the downside several times and the index is sitting just on this limit; so a break of this line signals falling prices
stop: when price breaks through the bottom line at 20.930 pt
indicators: weak - so be careful
NIKKEI ACCURATE DAILY TECHNICALSNIKKEI JPN 225
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NIKKEI is targeting 23000 to form a double top before a large market correction. Indicators are approaching positive conditions on our system & a breakout has occurred to the upside territory to confirm trade entry but if the market trend continues to range this signal will become invalid. Market execution for entry, I will confirm signal once the conditions have been met.
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Nikkei (Japan Stock Index) *So, now you know it is BearishIt is true that xxxjpy pairs should be a long-term down-trend and so is Nikkei.
Now. I am seeing a potential oversold situation, as a lot of noobs has jumped in the sell wagon and it 'may be' time for a swing up to hunt their stop.
So, if you are looking into short. Stay light.
I expect it shall back go down sooner or later. Stay Alert guys.
Trade Safe
s0nic
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Nikkei testing major resistance, potential upcoming drop!Nikkei is testing major resistance at 22178 to 22360 where we can see strong fibonacci retracement and fibonacci extension along with horizontal overlap resistance. What is nice to see is that there are multiple stochastic reactions that has occurred at that level too.
Major support is at 21700 which is a strong fibonacci retracement, extension and overlap support.
Nikkei testing major support, watch for the break!Nikkei is testing major support at 21700 which is the 38% retracement and 61.8% extension along with a strong overlap support. Breaking this level could trigger a strong move down to 21353 ( 61.8% retracement , 100% extension, horizontal overlap support).
It's important to note that RSI has broken below our strong 50% support signalling that a potential bearish move is on the horizon.
USDJPY gaining steamUSDJPY seems to have found a bottom but must break above the bearish trend to well and truly confirm a bullish move. With Fed minutes coming up and the Dow/Nikkei 225 looking stable, we may indeed see some rational and calculable moves from this pair in the coming days.
Please comment below what you think!
Nikkei approaching major support, potential for bounceNikkei is approaching major support at 21700 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, Ichimoku cloud support) and there is a potential for a bounce above this level towards 22360 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (55) sees strong support above 50% which is the level that would maintain our bullish bias.
Bear Unleashed Nikkei 225Nikkei crossed the R & S area very fast ... if it reaches the "strong support" point within angle 1/4 it is very likely that it will rebound to the R & S area and continue descending for which a new analysis would be needed.
As always the R & S (21800) area can provide an escape point, hard to believe seeing the conditions and trends around the world but ....
Let's see how it develops.
Nikkei - Long Term Hypothesis 1I have two hypothesis on the current situation. Both hypothesis begin in Nov 2012 @8661. The first hypothesis is that since 8661 there has already occured a whole cycle, 1-2-3-4-5-A-B-C, ended on feb 2016 @14915, and that we are now in the beginning of wave 5 of the second cycle.
For this hypothesis to be upheld, Nikkei must not go below 21100. If this level acts as support, a 4794 points extrapolation of wave 1 should send the Nikkei to 25863 before yearend.
There is a chance this hypothesis is not correct, and that we are now entering wave 5 of a bigger cycle that began @8661. In this case the chart would be showing only 1 cycle instead of two. If this is the case, then wave 5 should extend to 28320. This chart will be posted soon.
Cheers
Nikkei Daily Update (25/1/17)Seems like a good short is going to happen.
With 24100 acting as a resistance, price should easily visit the support at 23000
Do note, overall is still in a nice uptrend.
Disclaimer:
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 for your own financial situation.
SonicR Mastery team is not responsible for any liabilities arising from the result of your market involvement or individual trade activities