Skip to main content

It looks like Japan might break this time

Japan first hit the 161 of the 2020 drop in January. It's traded range-bound in this area since then. These 161 levels have historically picked out the approximate high points in most market tops.

https://preview.redd.it/rei9cc5297281.png?width=1918&format=png&auto=webp&s=b43d908751de6a185db8ab73c5c94e4694614f42

Our recent sell off has come right off the 161. In tops we often see small runs of the resistance levels and then perfect retests of these. Learn more about this here.

https://preview.redd.it/lkdhdp8h97281.png?width=1911&format=png&auto=webp&s=4f0a4beed68984a20ea450475113f0ab51e42306

Dropping in, we can also see this move has come off the 76 retracement.

https://preview.redd.it/09ze04as97281.png?width=1920&format=png&auto=webp&s=362a46adb82c1654859ba9756b0c3f6abd7b53f2

So while this has come with random news, this drop has come off a very foreseeable price level.

During the fall of Friday we broke through the 161 which would typically serve as support here.

https://preview.redd.it/hn7zbmyz97281.png?width=1909&format=png&auto=webp&s=01e1a0c0caa7ddfc110a9f02759f8e54137681a9

Critical break here comes under the 127.

https://preview.redd.it/5hrd8fk5a7281.png?width=1903&format=png&auto=webp&s=9e89e712be19e07971eae5317dcb9ac0bb81005e



via reddit https://ift.tt/3DUsLWF
Labels:

Comments

Post a Comment

Popular posts from this blog

Never under estimate the ability of sceptics of market timing to mis-time the market

I won't name names, we have some here. You'll maybe have noticed them. But it's a generic thing. https://preview.redd.it/7aziwgo6wc381.png?width=1103&format=png&auto=webp&s=264ef5fa77887f4c1a74de6f69192cc842a13131 OP SPX reaction to the 161 : BeatTheBear (reddit.com) https://preview.redd.it/fzqufzlyvc381.png?width=1015&format=png&auto=webp&s=e6a98e35523cbb31a3b67d10dd27594dea026958 These are one hour candles. This post was 3 hours ago. Count them. https://preview.redd.it/qj6ba94gwc381.png?width=1901&format=png&auto=webp&s=a6a18b509ffb36c740cf6a43acfdc885331c9539 (I missed my trade, though) via reddit https://ift.tt/3lyJPu3
Post a Comment
Read more

Magic lines suggesting various popular stocks are fucked (Part 2)

Previous posts 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12 , 13 , 14 . ​ Updates to Magic lines suggesting various popular stocks might be fucked. : wallstreetbets (reddit.com) ​ AMZN Butterfly Pattern ​ Previously: https://preview.redd.it/8ttpjx7bums71.png?width=1442&format=png&auto=webp&s=b0e1e0ca4b30021bf7c4a27be5131075ed3dc2bb ​ Now: https://preview.redd.it/tib5fwqgums71.png?width=1406&format=png&auto=webp&s=ecd0fb1dc256fef3b588861f1ab48005bf755224 ​ DJI Butterfly Pattern ​ Previously: https://preview.redd.it/j5u3ooqrums71.png?width=1453&format=png&auto=webp&s=948f7e809946691cf1567d663bd222a33412c6ca ​ Now: https://preview.redd.it/ihyt1bnqums71.png?width=1406&format=png&auto=webp&s=0aacc9bcfb0191c0550f6651c6e3c9bb45545bd7 ​ AAPL Butterfly Pattern w/ AB=CD Overlay Previously: https://preview.redd.it/7pamy4zxums71.png?width=1428&format=png&auto=webp&s=73114bc7f3684b58921e675b2e33e37e07e04396 ​ N...
Post a Comment
Read more