The last few days in the Japanese markets have been an emotional roller coaster, with china on the edge of collapse, the surrounding economies have not been shy to show the effects.
As one of those effected, Japan has seen a change in course from a steady Bull market, to a dramatic correction this week, and the question is will it continue? The answer is probably, the market suggest that the Nikkei is between support around 19,154 and resistance around 19,783. the market is at the end of the second wave of an Elliot wave theory and it appears likely that the market will respect the wave theory as well as resistance to push through the support level and complete the wave theory around 18,929.
So how should we be trading ?
Our trades should be long in the favor of the Yen and short in the equities markets , if the market makes more dramatic moves for Friday , next week will be a great time to buy equities and short the Yen.
Thanks for checking out this index update, I hope it has given you some ideas for your trading , or maybe even saved you from losing a trade. Please come back and check out all my ideas, and like and comment if you feel it necessary, and follow me for more Index analysis as well as great trades throughout the week.
Thanks again guys, and as always Good Trading Everyone!
As one of those effected, Japan has seen a change in course from a steady Bull market, to a dramatic correction this week, and the question is will it continue? The answer is probably, the market suggest that the Nikkei is between support around 19,154 and resistance around 19,783. the market is at the end of the second wave of an Elliot wave theory and it appears likely that the market will respect the wave theory as well as resistance to push through the support level and complete the wave theory around 18,929.
So how should we be trading ?
Our trades should be long in the favor of the Yen and short in the equities markets , if the market makes more dramatic moves for Friday , next week will be a great time to buy equities and short the Yen.
Thanks for checking out this index update, I hope it has given you some ideas for your trading , or maybe even saved you from losing a trade. Please come back and check out all my ideas, and like and comment if you feel it necessary, and follow me for more Index analysis as well as great trades throughout the week.
Thanks again guys, and as always Good Trading Everyone!