To end my Finlogix analyses this Monday, I will update for the Nikkei225 index.

Last Friday’s trade plan has ended in another stop loss:

https://www.finlogix.com/analysis/20240301/nikkei225-intraday-analysis-and-trading-plan-for-march-1-2024

There are lots of upcoming high impact economic reports this week including BOJ Gov Ueda Speech tomorrow Tuesday and most notabely, Fed’s Chair Powell 2-day Speech on Wednesday and Thursday that may give general markets’ influence.

R-assessing Nikkei225’s high timeframe candles:

Yearly Candle: Still a Green Body since last check

Monthly Candle: Last check is a Small Green Body current is Green Shaven Bottom

Weekly Candle: Previous close is a Green Hammer with Double Body Size VS Tail Wick current is developing a Small Red Doji

Daily Candle: Last Friday’s close is a Large Green Body current is developing a Red Doji

Still bullish on the yearly and monthly candles. However, the weekly and daily are currently developing Red Dojis hinting a possible start of price correction.

These patterns may proceed double weekly and daily top candles!

The weekly FVG is still waiting for a re-test.The corrective structure I’ve drawn last Friday have resulted a small breakout that immediately hit my tight stop loss!

Based on my renewed analysis, I will maintain to short the index. The catalysts for a sharp correction will be the outcome of BOJ Gov Ueda speech tomorrow and Fed Chair 2-day speech. Good luck!

I am seeing a round top pattern and a pin bar in the 4H chart therefore I will re-short with the following entries:

The stop loss is adjusted a little higher than previous order protecting another moving higher scenario.

However, if the top is in for the Nikkei225 index, then this short trade is activated targeting the weekly FVG for take profit. Completely retracing the corrective structure down low.

The reward is paid handsomely with mitigated risk.

Nikkei225 Intraday Analysis and Trading Plan For March 4, 2024

Mar 04 2024

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