ICHIMOKU WEATHER REPORT: Daily Forecast of Nikkei 225
Daily follow-up of the Weekly Forecast.
I think it probable that price will continue on its downward trend despite the spike in price after the FED announcement last week. Nikkei tends to follow the direction of the U.S. Indices which also spiked upward after the FED announcement.(Price will most likely test the High of Friday before continuing lower; maybe a period of Ranging price will occur before the definitive downtrend.) Price is below Kumo, Senkou Span B has begun its downward turn, Chikou Span is below the candles and the Tenkan/Kijun Deathcross is present. In addition to the elements of confluence listed above, I have counted the preceding Price, Time and Wave cycles that are the main Pillars of The Ichimoku Indicator and if the counted cycles remain true, Nikkei will continue lower.
I think it probable that price will continue on its downward trend despite the spike in price after the FED announcement last week. Nikkei tends to follow the direction of the U.S. Indices which also spiked upward after the FED announcement.(Price will most likely test the High of Friday before continuing lower; maybe a period of Ranging price will occur before the definitive downtrend.) Price is below Kumo, Senkou Span B has begun its downward turn, Chikou Span is below the candles and the Tenkan/Kijun Deathcross is present. In addition to the elements of confluence listed above, I have counted the preceding Price, Time and Wave cycles that are the main Pillars of The Ichimoku Indicator and if the counted cycles remain true, Nikkei will continue lower.