Why Nikkei 16000 Has Always Been The Target?
By Lawrence
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We often hear traders talking about trend – trend is your friend, do not fight the trend, etc. Yet we seldom hear a room full of traders agree upon what ...READ MOREPart of Art of Chart Reading There are many trend identification methods other than swing trend. The number of trend definitions exploded in the late 1990s as that was the time ...READ MOREPart of Art of Chart Reading Many people likes the comfort of guru opinions, especially when that opinion agrees with their own. When the guru opinion, even if it is a ...READ MORESPY made perfect moves following the STOPD levels as if it is following a script. Time to start some #conspiracy LOLREAD MOREDaily chart on crude. I marked the first quarter STOPD Levels. If there is a 3rd push back up, it will be back up to 107-107.5 ...READ MOREPart of Art of Chart Reading Summary Three Pushes is one of the more reliable chart patterns that work very well across almost all financial instruments. The pattern is easily ...READ MOREPart of Art of Chart Reading The basic types of price movements are just contraction and expansion. It is similar to how we breathe. It cannot be simpler. ...READ MOREPart of Art of Chart Reading Summary Measured move is a name given to a highly structured price movement that consists of 2 swings in the same direction with a ...READ MORESpike and ledge first target reached. As long as the baseline of the spike and ledge acts as resistance, the next target below is in play.READ MOREPart of Art of Chart Reading Here is the core set of chart patterns I find essential to get a grip of any markets I follow. Each pattern that has ...READ MOREThe Real Secret of Trend in Day Trading:Other Trend Identification MethodsStop the Madness – Stop Asking for GuruWTF Chart of the Day: Someone Must HaveCrude Oil OutlookThree PushesPrice Moves Like We BreatheMeasured Move (a.k.a. 1-to-1 Swing, ABCD Move)Gold Reached First Downside TargetEssential Chart Patterns
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Downside target is 13500-13800 area.
As I predicted, Nikkei is gunning for another limit down today. =P
Central bankers are itching at this point to intervene again for sure.