The cloud comes the rescue ?30min Ichimoku cloud looks to be a solid support for CME Yen NK225 M2 futures. Note that the market had bounced off from its recent contact to the cloud (TKY 20:30). The elevated implied ichimoku cloud seen head would most likely lift the market as the US market starts to find its calmness. Moreover, VZO/PZO oscillator indicated below heading support line, suggesting weakening market is getting attractive to get lifted sooner than later..
Will see
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NK2251! trade ideas
Elliott Wave View: Nikkei (NKD) Looking to End 5 Waves ImpulseRally in Nikkei Futures (NKD) from March 8, 2022 low (24510) is in progress as a 5 waves impulse Elliott Wave structure. Up from March 8 low, wave 1 ended at 25580 and pullback in wave 2 ended at 24790. Wave 3 has ended at 27910 with internal subdivision as a 5 waves in lesser degree. Up from wave 2, wave ((i)) ended at 25570 and wave ((ii)) pullback ended at 24895. Index then resumes higher in wave ((iii)) towards 27190 and dips in wave ((iv)) ended at 27120. Final leg higher wave ((v)) ended at 27190 which also completes wave 3.
Pullback in wave 4 has ended at 27400. Near term, while pivot at 24914 low stays intact, expect Index to extend higher in 5 waves to end wave 5. This will complete wave (1) in higher degree and end cycle from March 8 low. Afterwards, it should pullback in wave (2) in larger degree 3 waves to correct cycle from March 8 low before the rally resumes. As far as pivot at March 8 low (24510) stays intact, wave (2) pullback should find support in the sequence of 3, 7, or 11 swing for further upside.
Elliott Wave View: Nikkei (NKD) Searching for SupportNikkei Futures (NKD) is presently at the 100% – 161.8% Fibonacci extension from February 16, 2021 high and the Index is searching for support. Short Term view suggests that the decline from November 16, 2021 high is unfolding as a 5 waves impulse structure. Down from November 16, 2021 high, wave 1 ended at 27390 and rally in wave 2 ended at 29420. The Index then resumed lower in wave 3 towards 26050 and wave 4 bounce ended at 27897. Wave 5 is now in progress with internal subdivision as another impulse in lesser degree.
Down from wave 4, wave (i) ended at 26845 and rally in wave (ii) ended at 27555. Index then resumed lower in wave (iii) towards 26550 and rally in wave (iv) ended at 27025. Index is expected to complete wave (v) soon and this should complete wave ((i)) in higher degree. Afterwards, Index should rally in wave ((ii)) to correct cycle from February 10, 2022 high before the decline resumes. Near term, as far as pivot at 27897 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside. Potential target for wave 5 lower is 123.6 – 161.8% external retracement of wave 4 at 24905 – 25615 area.
JP225-MAR22 (4H) Bearish breakoutHi Traders
JP225-MAR22 (4H Timeframe)
The market is in a downtrend and we are waiting for an entry signal to go SHORT below the 27090 support level. Only the upward break of 27690 would cancel the bearish scenario.
Trade details
Entry: 27090
Stop loss: 27690
Take profit 1: 26775
Take profit 2: 26205
Take profit 3: 25325
Score: 9
Strategy: Bearish breakout
Trading Range on Nikkei 225 Dollar FuturesWe are in Trading Range on the Nikkei 225 Dollar Futures .
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Nikkei broke out yesterdayI cannot get as clean of lines in TV as I did in yahoo for this index.
i.imgur.com
I said yesterday it broke out, as it was just over recent downwards trend. (as you can see in the yahoo chart's screenshot, attached is my statement below)
i.imgur.com
This morning it touched the top of the longer term downwards trend.
29200 was my target, but looking at this TV I see 30130 should be possible.
Further included in Black Rock x Trade Central's bulls of the week was "iShares MSCI Japan ETF (EWJ:NYSE)"
i.imgur.com
So it is likely Japan will go to the new 30k target if not break out to ATH.
Nifty -bears Inclined or importedAll the four charts are interesting to see, a) Nikki - broke the triangle as well as the 21 DMA b) FTSE, broke follow through and then failed closer to 21 DMA c) Dax had volatile week and just about to break the Triangle d) our own nifty in triangle 21 DMA is very far off. Clues suggest a) all moves are synchronised in that sense all looking south. b) we are different and each one carves its own path (most unlikely). Again August historically more volatile hence caution is needed. Brace for volatility inclined to be on short side, at best topping out pattern.