I will share my last Finlogix analysis today through Japan’s largest and main stock market index, the Nikkei225.

I tried to long the Nikkei225 index long ago but it never got hit but you can read that analysis here:

https://www.finlogix.com/analysis/20211017/nikkei-long-weekly-higher-low-bounce-can-be-bullish

There is no Japanese related major eonomic report this week.

Assessing Nikkei225’s high timeframe candles:

Daily Candle: Yesterday close is a Red Body current is developing a Green Spinning Top

Like the three US indices counterparts including the AUS200 index, Nikkei225 just recently printed a new time high record breaking its previous 1989 record high.

Extreme greed levels are surely in the markets right now!

Two questions from here, first is this the high already or second, or another new high in the making soon?

There are pullback moves happening in the weekly and daily charts that might hint for a corrective move. Either to a higher or lower degree, markets will soon find out.

I have made short signals across the S&P500, Dow Jones, Nasdaq and AUS200 already. So for formality’s sake, I will short Nikkei225 as well.

The index has a bullish weekly FVG that needs to be re-tested for the second time this week and holds if price wants to go higher more.

But I am open for the idea that this FVG might not be revisited again until the index hits a higher all time highs.

On the 4H charts, I highlighted the corrective structure that will perform a next move. My bias is a down side price action retracing last week’s rally targeting the liquidity under the lows of 38100 levels wherein part of the weekly FVG’s territory.

The corrective structure is still in the Premium array and it’s shortable targeting the next Discount array.

If this trade plan goes accordingly, I will be rewarded with a 2.74 RR score.

Nikkei225 Intraday Analysis and Trading Plan For February 29, 2024

Feb 29 2024

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