From the yearly chart, it showed the Japan market's past journey from the 1970 to now.
There are 3 period for the JP market form the beginning.
1970-1990, the market soared.
1990-2008, the market declined.
2009-now, the market is rallying.
Now, the market is facing an strong yearly resistance.
The 0.618RET of the previous drop is at 26726 and the 1.618EXT of previous rally is at 25300.
Meanwhile a good Supply zone is at 24000-27270 levels.
The market has started to enter this zone, so pay attention to the price action when the price hit the PRZ.
Sell at 25000-27000
SL: 25500
TP: 15000
Obviously, it is a supper long-term plan, and it may need several years to get the target, so it just gives a direction for trade.
There are 3 period for the JP market form the beginning.
1970-1990, the market soared.
1990-2008, the market declined.
2009-now, the market is rallying.
Now, the market is facing an strong yearly resistance.
The 0.618RET of the previous drop is at 26726 and the 1.618EXT of previous rally is at 25300.
Meanwhile a good Supply zone is at 24000-27270 levels.
The market has started to enter this zone, so pay attention to the price action when the price hit the PRZ.
Sell at 25000-27000
SL: 25500
TP: 15000
Obviously, it is a supper long-term plan, and it may need several years to get the target, so it just gives a direction for trade.
Trade active
The price did not enter the PRZ, but it also gave the signals.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.