Does this tiny Double Bottom @ 14.700 fire the starting pistol for "THE BIG MOVE"? The consolitading downtrend since August is still present and dominant. Prices above 16.400 will challenge this trend. At this Niveau, the next longterm buy-Trigger is based: The EMA 200! Will Nikkei break through that MA, the next target could be 17.900. Should that Niveau also be overcomed, the Double Bottom is triggered and active --> this would generate a TP @ 19.500-20.000. The following TP could be the last bigger Top @ 21.000. Above that Level, a longterm breakout-Szenario is thinkable. Prices below 14.500 will strenghten the downtrend
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Merry Christmals to all!
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3000 points!
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Thats great :-)
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wow! my dez tp coan be aimed!
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Nikkei at highest Level today since 1996 - probably not far off my break-even Point :-) If only they`d waited! :-) hahahahahahah
if you check the weekly chart, actually the current double bottoms are testing the downward channel upper bound (after the breakout in 2014). if it turns into bullish run, this could be significant.However, it just doesnt make too much sense for me. did not see strong fundamental supporting a very super bull run for Japan. S&P is topping, oil is dropping, gold and silver heading up. what is your thought?
The_Cannalyst
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Hey pipstrading..thx for your comment....my view always is a pure technical view, without any fundamental thoughts. For me, i just see the massive underperformance of the Japanese and german market. When i have a look at the us-indices, i only see breakout Szenarios after a Long Long sideways phase. S&P made a new ATH yesterday (Inflation-adjusted). If the us-market really start the big exspected breakout, the other indices will follow more or less.....with this backround i made my Long-Analysis for the japanese market
pipstrading
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cool. but looks like Nikkei hit downward channel resistance now. likely to turn down.