USDJPY: Critical level testedUSDJPY has hit the previous monthly uptrend mode, and is currently stuck inside this zone. It would be a colossal feat, for Yen bulls to drive the pair under this key level, so I will watch it with keen eyes during this week. I'll update the post with intraday and daily/weekly charts as needed. It would give us clues about the future of the S&P500 and Nikkei, if we see the smart money players start to accumulate long positions again.
After Monday's close, I'll add a 'Brexit key level' to the chart in an update, and will monitor price action closely from here onwards.
I labeled a monthly downtrend signal, as per the 'time at mode' method, comprised of 7 months worth, and a price target that was exceeded already. There are 2 bars left for this decline to potentially end, and send USDJPY back up to the highs, unless yen bulls are strong enough to push the pair below support. Keep your eyes wide open, this is a really significant level, and from here we might get a terrific trading opportunity once the direction is clear, wether the downtrend ends or it continues further down to the 2011 lows.
Check out my updated track record here: pastebin.com
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.
Japan 225
NIKKEI 225 : Dual Patterns Cypher & Gartley Just looked at global indexes and came across these patterns. Both Patterns are almost near to X levels. So ultimately risk will be reduced very much.
Note :
1) RSI is completely oversold in single digits
2) Though I am posting now, Idea will be shown from next candle which is after 4hrs and at that time scene can be different & patterns can be invalid. But right now while I am posting Patterns are valid to trade.
Its just an idea and I don't trade JPN225 (Nikkei 225) so please check your trade plan before trading
Happy Trading !
JPN225 4h Elliot wave and pattern analysisOn the 4h chart a Head & Shoulders pattern is in progress. If price breaks the neckline, the target is +- 14700 based on measuring the gap between the neckline and the head. PLUS on this point is also a trendline which can provide support for the price. The 2 possible Elliot Wave scenarios that I have in mind are:
Scenario 1(blue scenario): Wave IV has finished, currently riding wave 2 down of V up. This scenario is invalid if price sets a lower low.
And:
Scenario 2(pink scenario): Currently riding wave c down of IV down. Target +- 14700. This scenario becomes invalid if price sets a higher high.
Personally I favor Scenario 2(the pink scenario) because then most parts of my puzzle come together (Head & Shoulders pattern, EW count, Trendlines etc.)
A possible strategy could be: SHORT position if price breaks the neckline with a Stop Loss of : 16845 (1 point above high of JUN 6) and Take Profit of: 14750 (a little above the target and trendline).
Please click HERE if you want to see the full analysis!
Have a nice weekend and happy trading!
Jouke Hartman
Nikkei: Peak bearish sentiment and a nice triple bottomI'm currently long USDJPY and GBPJPY, but we might have a chance to join the Nikkei's rally here.
Sentiment has reached extreme levels for equities, and the setup is eminently bullish, now that we've broken the weekly uptrend mode.
It's safe to enter a long with a stop under today's low, risk half initially, since weekly confirmation hasn't materialized yet.
This gives the yen pairs plenty of upside for a couple days/weeks.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Link to Tim West's chatroom: www.tradingview.com
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
HMC: Potentially a very nice long entry nowLong at market, stops at the previous daily close.
It should see some significant upside here.
Props to Tim West for spotting the potetial long term bottom pattern a few days ago.
Now it has fired a buy signal.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Link to Tim West's chatroom: www.tradingview.com
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
NIKKEI 15MIN: 15min original supply zone shortH4: we are currently inside of a h4 supply zone and reacting from it
H1: H1 supply is way below and there is a room to run untill there
15min: just created a 15min original supply zone
TP1: 1:1 R:R
TP2: Trail till just before reaching the opposing h1 demand zone
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JPN225 Long Term AnalysisMy analysis on JPN225. Nikkei index is in a corrective structure, in an uptrend at the moment. We may soon have a smaller correction to the down and once this correction is over we should have another move up. Moving up price will test a key level where we should watch for a sell signal for a big move to the down. If wehave a breakout above this level, structure changes and long setups is what we are interested in..
NIKKEI 15MIN. : 15MIN. ORIGINAL DEMAND ZONETOP-DOWN ANALYSIS
DAILY: Daily supply zone is way up and we have a plenty of room to run upside
H1: H1 direction is currently up
15MIN: we created a 15min original demand zone inside of the H1 demand zone
TP1: 1:1
TP2: Trail the stop till we reach the daily supply
Good luck!
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