To end my Finlogix analyses this week, I will update a new on for the Nikkei225 index.

Yesterday’s trade plan has ended in a stop loss:

https://www.finlogix.com/analysis/20240229/nikkei225-intraday-analysis-and-trading-plan-for-february-29-2024

There is no Japanese related major eonomic report today.

R-assessing Nikkei225’s high timeframe candles:

Yearly Candle: Still a Green Body since last check

Monthly Candle: Previous close is a Green Body current is a Small Green Body

Weekly Candle: Last check was a Red Spinning Top current is a Green Hammer

Daily Candle: Yesterday close is a Green Body current is Medium Green Body

The  Nikkei225 index has broken its previous all time high record above the 40000 level.

Extreme greed levels have been extending!

Pullback moves are yet to happen. The weekly candle has evolved to a green hammer rejecting those moves.

With the bullish weekly FVG holding up strongly, a new bullish 4H FVG has emerged as well.

I am still open for the idea that the FVG weekly might not be revisited again until the index makes further highs beyond the 40000 level.

Yesterday, I highlighted the corrective structure that will perform a next move and the markets have chosen to go the up side invalidating my bias for a down side price action.

It’s too early to say that the top is already in. Once the new bullish 4H FVG holds strongly, further up side potential triggers.

However, if it does not hold and we see a considerable big 4H candle or two, then it’s safe to say a momentarily pullback has occured to allow the Nikkei225 sellers to participate.

I will short the index again with the following entries:

If there will be no new bullish 4H FVG to appear in the remainder of Friday’s session, then a mild price correction targeting the 50% retracement of the current bullish 4H FVG commences.

If this trade plan goes accordingly, I will be rewarded with a 2.22 RR score only with a tight stop loss.

Nikkei225 Intraday Analysis and Trading Plan For March 1, 2024

Mar 01 2024

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