I outline why on this 2H time frame the greater probability for the Nikkei is for the south. How far south is another issue. No predictions - as usual.
In the screencast I show the evidence of a setup that is approaching, for a nice controlled loss. Loss? Nobody want's to hear about that - but it is exactly what we do!
Key points:
1. Alternate ABCD pattern with a C-point at 50% (Scott Carney criteria).
2. Zone of congestion.
3. Probabilities for the south based on ATR-based indicator and GMMA.
4. Time...
I've not seen this sort of stuff before on Tradingview, so I do apologise if everybody knows about it.
I show how I used both a microtrend change on a 15 min time frame and a macrotrend position to get a suitable entry position on Japan225. Note carefully, that this is not a 'win'. I totally expect to lose but if that happens the loss will be minimal. If however...
In this screencast I'm looking both at the daily and 4H time frames on the JP225USD.
The daily is into a potential reversal zone based on my methodology.
The 4H is probably into a PRZ based on an ABCD pattern.
Stay lively - stalk carefully. :))
Nikkei
P.S. This is not to say there won't be better opportunities elsewhere. In fact, the S&P 500 could outperform the Nikkei. But this trade is extremely interesting because of its relative certainty. There are more data points on the long term scale than many other indices out there today. The more certain the risk is, the better the trade.
