CTS - #NikeiDisclaimer
This analysis is designed to provide information that CTS believes to be accurate on the subject matter, but is shared with the understanding that the author is NOT offering individualized advice tailored to any specific portfolio or the particular needs of any individual.
The author of the analysis specifically disclaims any responsibility for any personal or other loss or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this analysis.
JPN225 trade ideas
NIKKIENIKKEI
It is going to test back its historic peak form in 1990.
Historical monthly charts has shown negative divergence and has led to correction.
But once the higher top and higher bottom formation resumes or is being witnessed
then correction on the back of overbought or negative divergence on RSI can lead to higher bottom formation
in case of correction.
The lower tops has been crossed and the same is shown with black horizontal line.
As a result of the breakout that was seen in last December 20,
expect a rally towards its historical supply zone marked with two horizontal lines at higher levels in due course of time with volatility and sideways correction in lower degrees.
Eventually, Nikkei could be heading towards supply zone-36367-39170.
How long will the range of 22000-23000 last?I think that the range of 22000-23000 will not last long.
Following the course,
July 2: It penetrated down 22000 that is the neckline of the blue double bottom.
July 5: It was bounced back by YPP (P) and returned to the range.
July 9th and July 12th: It went up as attacking the short entry on July 2nd while swinging around.
After the movement of attacking while swinging the breakout, the break succeeds after trying it a couple of times.
Therefore, it seems that there will be some move to clearly penetrate the red line or break YPP (P) downward.
Based on that, the latest is as follows.
<< tactics >>
1) MPP (R1) functioned as a resistance after failure to penetrate the red line.
Short entry.
The first limit is above MPP (P) 22441.9.
The second limit is above 22000.
The third limit is above YPP (P) 21488.5.
2) It went through the red line and 23000 upwards.
I will observe to find the next entry point.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thick line: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding round number.
Red thick line: Untrustworthy line for me
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
------------------------- --------------------------
Does MPP (P) 22372.6 work?There is no trend, it is NK225 that goes between 22000 and 23000 range.
However, it is still difficult to understand price movements.
I think that there is no problem by doing both trading and selling.
<< tactics >>
1) MPP (P) 22372.6 can be recognized as functioning.
short.
There is WePP (S1) 22195.6 on the way, but thought to penetrate, it limits above 22000.0.
However, consider exit if it is reflect cleanly in WePP (S1).
2) MPP (P) 22372.6 cannot be recognized as functioning.
Pierce the MPP(P) upwards and recognize the support and consider the long.
I think that double zero 22500.0 is losing its function. But if it works I thinks of exit.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding double zero
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
------------------------- --------------------------
Nikkei Multiyear Rectangular breakout..BuyWow its like 1990s again in Nikkei…Most overbought in 31 yrs..16% up in last 2 months.Not a single down day in last 21 days….
Rectangle breakout on its monthly chart….A throwback to 20,000 possible with upside target of 32500… may just fall short of 35000 of 1990s
DISCLAIMER: I AM NOT SEBI REGISTERED ANALYST. ALL POSTS ARE EDUCATONAL PURPOSES. NON ADVISORY, DISCRETIONAL. NO CLAIMS, RIGHTS RESERVED. I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS. PLEASE CONSULT YOUR FINANCIAL ADVISOR BEFORE INVESTING