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Nikkei225trade

Nikkei 225 End Game is NearWhat we are seeing is the 5th impulsive wave up from 2013 bull market. This 5th impulsive wave is further subdivided into another 5 wave. as labelled above. The last of the impulsive 5th wave is taking shape to be an ending diagonal. From the overall picture, wave 5 of the entire bull market from 2013, has failed to reach a higher point than the end of wave 3. (Which is around 20,950). In elliot wave principle, we call this a truncated 5th wave, whereby the forces to start a new trend is so strong, that wave 5 cannot reach the previous peak of wave 3. Expect things to turn very ugly when 19,900 handle breaks. Watch for it. It may be the start of a new bear market. I've taken a short position at 20,150, with SL above 20,400. (Please use forwards to short) There's no take profit target for now, as I'll wait to see if the bear market plays out. If so, we can probably ride this down for a couple of months. Below is the 5 wave Bull market EW chart (From 2013)
INDEX:NKYShort
by melvinljw
Japan225 - Bearish Trend Scenario Japan225 - Bearish Trend Scenario Japenese index Nikkei225 recently broke and retested an ascending triangle pattern on the daily chart suggesting more downside for this index and also big strength for jpy pairs according to their correlation. If you look at the weekly chart of japan225, you can see the trump rally has lost its momentum with multiple dojis/shooting stars indicating that the pending correction is coming very soon. Potential targets for retracements is the fib 50% and 61.8% level which is also in confluence with a structured weekly support. if this analysis play out we can see big strength in jpy pairs, I can see gbp/jpy hitting 130 and usd/jpy hitting 106 in the coming days/weeks.
FX:JPN225Short
by Sagefx