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Forecast and levels for Nikkei - page 3

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Sergey Golubev
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Sergey Golubev  

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Sergey Golubev, 2017.11.30 07:41

Nikkei 225 - daily bullish ranging within narrow 22,795/22,210 levels for direction (based on the article)

Daily price is above Ichimoku cloud for the ranging within 22,795 resistance level for the bullish trend to be resumed and 22,210 support level for the secondary correction to be started.


  • "The index remains at first glance very much where it was; a shade below this year’s overall highs but certainly holding on at a relatively elevated level. However, appearances can be deceptive. For there have been some changes to the picture and they’re quite encouraging ones for any bulls out there even if they’re hard to spot. For one thing the trading range has narrowed somewhat, in that its base is now clearly a little higher. Last week we were looking at 21,853, now it’s more like 21,173. At face value this looks encouraging. Not only are we seeing “higher lows”, but the pattern looks broadly consolidative which may mean that the index pushes on higher once it breaks."
  • "Note that the index doesn’t look either oversold or overbought to any great degree at present. That is a probably welcome change from the situation in early November. Back then it was overbought with a vengeance. Now its Relative Strength Index has collapsed back to a sober 54, well below the exuberant 80-plus levels hit back then. The safety zone is generally considered to be between 30 and 70. That the Nikkei can look so relaxed at current levels is probably also a reassuring sign."

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


Sergey Golubev
Moderator
101656
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2018.01.25 16:03

Nikkei - strong bullih on medium term; 24,121 resistance is the key (based on the article)

Weekly medium-term price is on bullish breakout: the price is testing resistance level at 24,121 resistance level to above for the primary bullish trend to be continuing.


  • "The Tokyo stock benchmark remains in the robust uptrend channel which has contained trade since October 27 last year. That channel encompasses this week’s rise to new 26-year highs. Incidentally that rise seems to have validated a channel top which, without it, might have looked a little spurious."
  • "November 9’s intraday high used to mark not only that channel top but the only foray toward it since the formation was initiated. However, January’s peaks have so far respected the uptrend from that November 9 top, making it look a whole lot more valid."

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The chart was made on W1 timeframe with standard indicators of Metatrader 4 except the following indicators (free to download):


Sergey Golubev
Moderator
101656
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2018.02.22 17:31

Nikkei 225 - daily rally and watch 22,177 level; 23,006/23,610 levels for the daily bullish reversal (based on the article)

Daily price broke Ichimoku cloud to below for the breakdown with the daily bearish reversal. After that, the price was bounced from 20,537 support level to above for the secondary rally within the primary bearish market condition to be started. If the price breaks 22,177 resistance so the rally will be continuing, and if the price breaks Senkou Span lines (23,006/23,610) to above so we may see the bullish reversal of the daily price movement.

Nikkei 225

  • "The Nikkei 225’s quite dramatic fall from January’s 26-year highs seems to have been arrested. But can this last or is another leg lower already in the offing? Having peaked at 24,189 on January 23, the index fell as low as 20,452 on an intraday basis back on February 9. It has since recovered somewhat and for the last couple of weeks has been trading a daily-closing range between 22,065 and 21,160. That range looks safe enough for the moment and should probably be treated as valid at least for the next week or so. There has been a bearish crossover in the simple moving averages, whereby the 20-day has slid below its 50- and 100-day counterparts. However, coming at the same time as a quite sharp global stock down move, this may not be terribly significant. What may be more so is that the 50-day could be about to cross below the 100. That hasn’t happened yet, but it could and it might be a bearish signal if it does."
  • "It’s worth bearing in mind too that the current range base is not very far away from 21117.8. That level is the fourth, 61.8% Fibonacci retracement of the Tokyo stock benchmark’s climb up from the lows of September 8 last year to the impressive highs of 2018. The final, 76.4% retracement before the rise is completely negated would come in now at 20,392.2 and that might be a level to watch if the current range gives way."

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:


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