Thursday, January 24, 2013

Japan's Nikkei perfect ABC pattern

I often refer to the ABC pattern, to see previous posts, just type ABC pattern in the blog search.
(or simply ABC pattern, Moise Levi on Google)
let's look at the Nikkei ; been bullish on it several times.
1) Long base pattern
2) "A" is clear, followed by a huge pull back to test the key support level "B"
3) How do we know its a clear "B" ? See those higher lows above the key support level ?
4) Price breaks out above "A", giving us our "C" level
5) "C" is now our key support/stop loss
Japan will "help" us get out of this long term crisis
I do not expect a "sudden" rise (parabolic), but an up the stairs pattern
The Nikkei should/must be in your portfolio

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