Nikkei bearish divergence on RSIAlso appears to be breaking a uptrend as part of a rising wedge TVC:NI225
JAPAN225CFD trade ideas
JPN225 - CTS Trade & Using the CORRECT Cypher Pattern ToolWe have a nice little bearish CTS (Combined Technical Score) setup happening here on the JPN225 with price action currently trading at a previous level of structure resistance.
On the higher timeframe we already have a double top, with the RSI overbought & showing bearish divergence & on the lower timeframe we have the same setting up with the added bonus of an at market bearish Cypher pattern.
*We also take a look at why it's important to use the CORRECT pattern drawing tool when looking at Cypher patterns.
Please leave your questions & comments below & remember to show that rocket some LOVE!
Your Trading Coach - Akil
Nikkei to stall at current swing high?NIK225 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Price action looks to be forming a top.
A lower correction is expected.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Further downside is expected although we prefer to sell into rallies close to the 33177 level.
We look to Sell at 33177 (stop at 33477)
Our profit targets will be 32427 and 32227
Resistance: 34014 / 35000 / 36110
Support: 32610 / 32200 / 31410
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Nikkei 225: Bearish Divergence at Bearish Butterfly PCZThere is Bearish Divergence on both the RSI and MACD at the PCZ of a Bearish Butterfly, and there will hardly be any support until we reach the 1.618 Fibonacci Extension down at 18627JPY, but from the looks of it, it will likely be a very fast drop followed by an even faster recovery, but in the meantime the JPY could gain some strength.
Nikkei to stem dip again?NIK225 - 24h expiry - We look to Buy at 32465 (stop at 32165)
Price action has continued to trend strongly lower and has stalled at the previous support near 32712.
A Doji style candle has been posted from the base.
Price action looks to be forming a bottom.
This is positive for sentiment and the uptrend has potential to return.
Preferred trade is to buy on dips.
Our profit targets will be 33215 and 33355
Resistance: 33205 / 34015 / 35000
Support: 32610 / 32200 / 31410
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JPY stock basket Reacts To US Dollar RallyThe past week has had plenty of developments for many financial instruments across all markets. COINBASE:BTCUSD has slid to the downside, Major US Indices have also see a decline. JPY 225, the major stock index in Japan has reacted quite aggressively to the movement of the US Dollar.
The JPY 225 index is one of the indices we have identified to be strongly inversely correlated to the dollar index. As can be seen in the chart (The US Dollar index chart is the grey line chart). The reason for this correlation is quite lengthy. But it largely has to do with the US being the biggest consumer of Japanese manufactured products.
That being said, we've seen the US Dollar index Break lengthy bearish trends this past week. And Subsequently, The JPY 225 has done the exact opposite. If we ought to trade the JPY 225, We would be looking for short positions. And as can be observed in the charts, those who trade chart patterns would identify Head and shoulder on the JPY 225- Signaling the beginning of a potentially strong bearish trend. The Market has also broken a bullish trendline channel which confirms a potential long-term reversal.
In order to track the movements of major instruments we will look at how the dollar index moves in the coming week. Since there are plenty of US news this coming week, We will see how the overall market responds to those and adjust accrdingly.
Share your thoughts and Let me know what you think about this analysis!
Until Next time.
Nikkei 225 Short: End of Wave 5From Fibonacci extension level, we have potentially reached the end of wave 5. The recent up move is also preceded by a triangle.
On my previous post on Nikkei 225 on a shorter timeframe identifying a h&s setup also confirms that the peak was in.
JP225 SHORTSJp225. Was trading in an uptrend .. but price started to range. Price broke the support of the range and the strong Daily uptrend with an increase in trading volume on the shorts. Strong sell for the assignment stock
Stocks Are Falling on the Background of the Activity of Central This week could be the worst for stock markets in 3 months after a series of interest rate hikes by central banks, writes Bloomberg.
The UK and Switzerland raised the rate by 0.25%. While the US Fed has left rates unchanged for now, Jerome Powell said another rate hike or two may be needed in 2023. Higher-than-expected inflation in Japan has also fueled speculation that the BOJ may adjust its super-loose monetary policy.
At the same time, an interesting situation is emerging on the Nikkei 225 chart. Having broken through the resistance line (1) in May, the Japanese stock index rushed up, attracting bullish speculators. Growth last week was particularly rapid, suggesting that the market is in the climax of the upward momentum. And the downward movement this week confirms this assumption. A bearish engulfing pattern may form on the Nikkei 225 chart, and, remarkably, if this happens, it will be at the border (2) of a large parallel channel, which begins in the first month of 2021. Thus, the area around 33,000 shows its strength as a resistance and can be used by the bears to build their trading campaigns.
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NIkkei 225 Short: Potential H&S SetupAs shown in the chart, it is possible that Nikkei 225 is going to see a fall to the support later today and continue falling through to reach the initial target of 32580.
A stop loss at 33808 and entry price at 33510 will give us a RRR of 930/298 = 3.12. Or a late entry will still be around 3 for the RRR.
Good luck!
JPN225: Ascending Channel UptrendThe JPN225 has been steadily advancing within the confines of an ascending chanel. This pattern suggests a series of higher highs and higher lows, reflecting consistent buying pressure and an overall bullish bias.
Within this ascending channel, a symmetrical triangle has formed. The triangle is characterized by a converging range of price action, as both the swing highs and swing lows gradually converge toward a breakout point. The narrowing range indicates decreasing volatility and potential pent-up momentum.
fourth waveapparently after completing 3 waves in the medium term we would expect the fourth wave to fall to the 29000 and 28600 levels
Nikkei225 close to top The Nikkei 225 has had a huge run and looks close to its channel trend top. Looking like a good short opportunity as it continues to rise close to the top channel.
JPN225JPN225 (Nikkei 225) is showing a bullish flag pattern, RSI divergence, and a double top reversal pattern. Traders are advised to wait for a breakout below the last printed lower low point to consider a short trade, indicating a potential trend reversal in the market. Risk management is essential.
NIkkei 225 short: Reached Fibonacci Level TargetNikkei 225, based on Oanda's CFD, has reached a fibonacci target level and it is now a good time to be in a short position.
NI225 has closed positive for 9 consecutive weeks !NI225 has closed positive for 9 consecutive weeks !
Is it about to reverse?
This chart shows the weekly candle chart of the Nikkei Stock Index from the end of 2019 to the present. The graph overlays the line between the low point in 2020 and the low point in March 2023, the line between the low point in 2023 and the sub low point, as well as the horizontal line of the short start position in September 2021 and the horizontal line of the long start position in April 2023. As shown in the figure, the Nikkei Index has closed positive for 9 consecutive weeks and has exceeded its limit! In the next week, as the strongest Nikkei index in the near future, there is a high probability that it will lead the global stock index to retreat, probably by stepping back on the top diagonal line in the chart, and then choosing a direction!
NIKKEI at 37,000 by Sept 2023 - 33% upWe are about to break out from the triangle pattern.
Mega bull run up 33% to 37,000.
Just repeating history.
NIKKEI Flat Correction in 1H Future32700 high, exciting, it's now completing an Expanded Flat, 3-3-5. More upwards?!? Wave c should end at 161.8%, probably tomorrow in early cash hours. This idea is still long but I have no position as it's very closed to SQ!
NIKKEI has started 3rd waveWhen everyone/everything tells you stocks are going down, it's time to buy!
Nikkei Retrace After BreakoutMissed the breakout of trend line as I was with Nasdaq. New policy from BOJ in April. Planning to buy after retrace, 27900-28000 area. Target, ATH and above!
NIKKEI INDEX BEARISH OUTLOOKNIKKEI Index, alongside most Asian stocks, dipped in the Thursday trading session, amid concerns regarding rising interest rates and slowing growth of the global economy.
The investors are still anxious to invest in risky assets before the Fed meeting, which will determine rather to hike the interest rates or hold. The analysts are divided on the issue due to mixed economic data.
The price chart had formed a bearish engulfing Wednesday and keeps the trend Thursday as well, failing with 0.2%. MACD and RSI indicators are still high, but the slow moving average of the RSI had crossed the overbought barrier from above, and the MACD histogram is declining.
If the trend continues, the price might target levels of 31648.81 and 31383.88. On the other hand, if it crosses the pivot point of 32178.67, it might test its resistance level at 32443.6.
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UPDATE Nikkei reached first target at 32,652W Formation formed on the Nikkei.
We then had a strong breakout with high inclination.
The price has since rocketed to our first target.
7>21>200
RSI>50
Target 32,652
It's still extremely bullish, but we can expect the price to come down consolidate in a range before we get the next buy signal.
I'll let you know.
NIKKEI Long - Wave v - Elliott WaveToday's price action, wave v does not seem to be completed yet.
As SQ is due next week, CALL should win again, big. If this is correct, wave v should be diagonal, 53535. Heading to 32000 area.
❗️This is a short time trade, 7 days max before SQ. I must close position if it breaks and stays below 30773, 78.6%, a typical diagonal retrace %.
