Japan 225
NIKKEI's expected correction may be over...looking for LONGWe expected a corrective move on NIKKIE, the Japanese benchmark stocks index.
As we mentioned previously we will remain bullish above 19000 area. On the other hand a bearish bais on a daily close below 19014.
Price action in recent 5 days has been fairly corrective. Please bear in mind the NIKKEI AND YEN maintain a -ve co-relation much of the time. After Fed's last week rehtoric market is pricing risk-on mode. We expect YEN to weaken and NIKKIE to put more gains. As of now a bullish hammer is in place @ 19253 support.
Although entering long is lucrative from a purely technical perspective. But we will be bit more conservative and wait for the confirmation of up-move.
Thanks....
Trade with Care....
NOTE : IDEAS ARE PUBLISHED BEARING DAILY TIME FRAME SETUP ONLY...
USDJPY - Bullish Hi guys, looking at UJ Im feeling it's very mixed. Everything depends on what people say about rate hikes. In any case, what swings it for me is that UST10 has broken upwards this week and it could find some strength here.
Anyway, I may be biased here because of my long term view of short Gold.
Comments/opinions are welcome.
Note I am not long in this, I'm short in gold. This is my opinion.... and I'm not a professional which obviously shows but... I don't want some 15yr old trading his dad's house away because I published an opinion I just want some scrutiny on.
Nikkei - Monday's open is criticalThe bullish momentum appears to have run out of steam near as weekly candles have repeatedly failed near 19,600 levels since late December.
We also have a bearish 5-DMA and 10-DMA cross over on the weekly
The MACD has turned bearish as well.
Hence, Monday's open below 5-MA level would open doors for a test of the rising trend line support around 18,600.
On the higher side, only a daily close above 19,600 would signal continuation of the rally.
JPN225. Nikkei full of zigzags and patternsNikkei may have offered two following trading opportunities which are pairing with the zigzags we see on USDJPY forex pair.
First of all, a bearish Cypher pattern has just completed today. I will short the market on opening, targeting 19215 and 18995. SL set at 19700.
If the trade completes correctly, I will long the second pattern, a potential bearish Butterfly. To make it valid, we should not close the day above today´s high and below 19102. My target for the pattern is 20000 and SL at 18800 if the market gets to 19100 or 18992 values
Beautiful breakout higherAfter a strong impuls higher we have been in a corrective trend lower, and from a strong support area, we broke this important trendline higher. I am expecting further upside in the coming weeks.
I am long since 2220 with a tight stop at 2198. Targeting 2420 and 2620.
Buying dips in this stock should be a solid play in coming weeks.
Blessings to you all.
Nikkei 225 Short TradeYou see a good example, how we could use an uptrend line, a breakout and retest with following down movement. When price confirmed the reversal, we could place a pending order for entry below the low of the bearish candle. Anyway this signal is still workable for opening short trades with stop above the local swing high and profit target at the uptrend line.