A bit unsure stillNikkei 225 is a bit tricky. Good fundamental data out of Japan such as dovish monetary policy, but weak export figures which is why its down today. Technically, we are well above most exponential moving averages, but stochastic reads overbought while momentum suggests we are still headed in an uptrend. Overall, not enough signals for one way or the other.
Nikkeitrade
Nikkei Stock Index (We are now at strong resistant)View On Nikkei Stock Index(5 Mar 2019)
It has been going up recently and now we are at a strong resistant level of 21,765 regions.
That region may cause the market to pause and may even pull back down first.
If you want to long, I suggest you should rather wait at lower and strong support level such as 21,000 or even 21,200.
If there is any changes, I will update again.
DYODD, all the best and read the disclaimer too.
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SHORT Nikkei 225 approaching resistance, potential drop!Nikkei 225 is approaching our first resistance at 21868.6(horizontal swing high resistance, 100% Fibonacci extension , 78.6%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 21159.1(23.6% Fibonacci retracement , Horizontal swing low support)
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
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.
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 20899 (100% fibonacci extension, 50% fibonacci retracement, horizontal pullback resistance) and a strong drop might occur below this level pushing price down to our major support at 18995 (61.8% fibonacci extension, horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
NIKKEI 225 Index Strugles to break above 20200The correction of Deep dive from 21600 to 19000 seems to be blocked by 20200 resistance.
An ascending triangle pattern is being printed on H4 Chart. - Potential bearish continuation pattern. -
Short at the potential breakout.
Bullish breakout would be validated at 20225.
Can Aggressive Elliott Wave View In Nikkei Will Play Out?Nikkei short-term Elliott wave view suggests that the cycle from 10/01/2018 peak is showing 5 swings bearish sequence. This favor more downside to 19073-16773 100%-123.6% Fibonacci extension area to be reached in 7 swings before support for bigger 3 wave bounce is seen at least. The decline from 10/01 peak is showing overlapping price action thus suggests that decline is unfolding in a corrective sequence i.e could be unfolding as double three structure.
Currently, the decline to 21075 low blue wave (W) lower. Above from there, a bounce in blue wave (X) took place as a Flat correction where red wave A ended at 21735 high. Wave B ended at 20950 low and red wave C ended at 21923 high which also completed blue wave (X). Down from there, blue wave (Y) can be completed at 19278 low. Above from there the index is expected to do a bounce in 3, 7 or 11 swings within blue (X)(X) of a possible triple correction lower. We expect short-term sellers to appear in 3, 7 or 11 swings on a bounce in blue wave (X)(X).
Nikkei: The Why's & How's I'm SHORT Now - Lesson In Wave TradingThere is NEVER a SURE 100% trade. And I'm not giving you one. Let's be clear about that. But as you can see on my chart, I'm sure enough about what is about to happen to the Nikkei that I am already SHORT on it TWICE OVER. And if prices do go the way I am projecting and they do pull back up and cover those HUGE gaps that were left behind, I'll be looking to sell again! But let me explain why I think this.
What I see happening is that the recent high that was just established could very well have been the top of a wave (X) correction. This following the completion of a wave (W). That wave (W) was a sharp downward correction off the possible completion of that HUGE LONG impulse wave that lasted years! That wave (W) crash signaled the end of that MAJOR impulse wave. I had been calling that long impulse wave up as a wave (iii) and that crash down ended it. So why didn't I label that wave (W) drop as a completed wave (iv)? Well, it could be but highly unlikely given that it was so sharp and brief. Wave 4's don't tend to be that way. Wave 4-type corrections usually unfold in an long drawn out fashion. And if you have been counting waves as long as I have, you would've have seen this kind of price action take place hundreds if not thousands of times in the 26+ years that I have been trading. And I also seen just as many times what follows, too.
So for arguments sake, let's just say that my wave count is correct and that was indeed a completed wave (iii) and what followed was a wave (W). After a wave (W), you would expect that the next wave will be a corrective wave (X). And what did follow was a very clear 3-wave corrective wave (X). But only one problem....that correction ended ABOVE the top of what I labeled as the wave (iii) end. So, that opened up 2 possibilities...1) that the new high was actually the end of that MAJOR wave (iii) or 2) as I see it, this overall correction following where I labeled the end of the wave (iii) is unfolding as an extended flat where the corrective wave (X) does exceed the high of the previous complete impulse wave. If that is the case, then we can already project what is to happen next and also project possible targets based on the rules that we have for extended flats and how they tend to unfold.
Regardless, I trust my wave count because as you can see, I've hit 4 out of 4 trades pulling in over +8000 points over the course of this year JUST on the Nikkei alone! You don't even want to know how I did in the other major indexes as you would find it hard to believe! But that is besides the point. The point I'm trying to make here is that if you can apply a good, workable wave count combined with a good knowledge about price action, you can make trades like these. Those 4 out of 4 (100%) winning trades are just the ones that I have already closed and banked the profits on. That does not include the 2 OPEN SHORT trades that are already in profit now.
If you find it hard to believe me, here is my chart I published to my followers back on September 12th showing my projections on what was to happen in the Nikkei. As you will see, that "explosion up" that ended what I have recently labeled the wave (X) I had already predicted would happen MONTHS AGO. That is the power of wave counting in action!
There will be those that argue that my wave count is not correct and if you know me, you also know that I don't prescribe to the theory that you absolutely have the ABSOLUTE correct wave count in order to make money. No. You just have to have a workable wave count that puts you on the right side of the market.
So if you believe me about what I see, you will want to wait for prices to pullback before you look to get SHORT.
If you want to know more, PM me or see my signature box below for more info.
NIKKEI 225 Index, Daily Chart Analysis 10/17Technical Analysis and Outlook
Most Asian markets opened positive, while the Nikkei index is heading towards Mean Resistance 23499 after a higher closure on short covering and bargain hunting as expected. The Dead-Cat-Bounce stage advancement scenario might address the pullback target to Key Support 22316 or thereabouts .
Nikkei Elliott Wave Right Side Calling HigherHello Traders,
Nikkei short-term Elliott wave view suggests that the decline to 22161 on 9/06/2018 low ended red wave 2. Above from there, red wave 3 remain in progress, nesting higher in an impulse structure. With lesser degree cycles showing sub-division of 5 waves structure in each leg higher i.e black wave ((i)), ((iii)) & ((v)) expected to unfold in 5 waves structure. Also, it’s important to note that the right side is up & instrument is having a bullish sequence tag available in below chart. This suggests that the selling is not recommended.
Up from 22161 low, the initial rally to 22750 high black wave ((i)) in 5 waves. The decline to 22535 low ended black wave ((ii)) pullback.
Then the rally higher from there ended black wave ((iii)) at 24120 high. The pullback to 23817 low ended black wave ((iv)). Above from there black wave ((v)) of 3 remain in progress, looking to extend higher as long as the pivot at 23817 stays intact.
Afterwards, the index is expected to do a wave 4 pullback in 3, 7 or 11 swings before further upside is seen. We don’t like selling it & expect buyers to appear in 3, 7 or 11 swings against 23817 low.
NIKKEI 225 back in positive trend channelThe Nikkei Index had left the positive trend channel after forming a diamond pattern. It fell on the support at 20.600 (fib retracement 61.8%) and rebounded on this level.
Since march 26 it has risen with volatility and reached the lower limit of the trend channel.
It took some days to break through this resistance and it is still not for sure that it´ll stay inside the channel.
Watching the indicators RSI and ADX - they signal a positive trend. This is why I think NIKKEI will remain in the channel.
If so it should climb up to 22.760 and close a gap (feb 06).
This is a hard resistance and we´ll see if there is enough momentum to come further.
Stop:
If the Index falls back well under the lower limit of the trend channel and / or breaking through the neckline of the diamond pattern at 20960.
Japan's stock market may be poised to break higherThe chart shows monthly bars on the NIKKEI 225 future. The index is returning to the 21000 key level, a level its failed to surpass since 1992. Price is above its 52 week Moving Average, and momentum is up for the only second time since the 1980's.
Whilst the rest of the Worlds post Global Financial Crisis recovery began in 2009, Japan's was delayed until the massive stimulus by Prime Minister Abe in 2011. This was offset by a JPYUSD fall in almost perfect sync. Interestingly the recent rally in 2017 has been positively correlated to JPYUSD, demonstrating that the rally is driven by higher inflation and growth expectations, building a solid case for further gains.
In summary the case for a Japan bull market is:
1. Improving earnings outlook with a strengthening domestic economy
2. Currently attractive equity valuations compared to developed market peers
3. Inflation picking up
4. Continued monetary stimulus
Nikkei (30/1/18) *This Baby is WeakIt is good to see the Nikkei index is doing exactly what we expected.
It shall go to 22972, 22700 level.
It has a better edge to stay on Short/Sell side right now.
Trade Safe
s0nic
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