The Nikkei is offering a nice tight entry on the long side.
Risk 1/2 position on this one, entry is market now, stop at 20462, tp at 26720.
Will trail the stop on a daily basis.
The quarterly chart shows a valid uptrend in place, with time left until July 2016.
We are also above the biggest time spent at price level in the whole chart's history, with the next significant resistance at 21244 and the next at 26720. If we manage to survive in this long and cross the first level, it might continue up and hit the second one, making this a very attractive entry. The horizontal ray on the daily chart is a vixfix 75% retrace level, caused by smart money buying into a strong decline, one of the key levels demonstrated by Tim West in his publications. (he uses Vix though, for S&P500)
It's possible that we see a crash this year though, since this is so overextended, specially if S&P500 crashes like I expect.
Good luck,
Ivan.
Risk 1/2 position on this one, entry is market now, stop at 20462, tp at 26720.
Will trail the stop on a daily basis.
The quarterly chart shows a valid uptrend in place, with time left until July 2016.
We are also above the biggest time spent at price level in the whole chart's history, with the next significant resistance at 21244 and the next at 26720. If we manage to survive in this long and cross the first level, it might continue up and hit the second one, making this a very attractive entry. The horizontal ray on the daily chart is a vixfix 75% retrace level, caused by smart money buying into a strong decline, one of the key levels demonstrated by Tim West in his publications. (he uses Vix though, for S&P500)
It's possible that we see a crash this year though, since this is so overextended, specially if S&P500 crashes like I expect.
Good luck,
Ivan.
