NIKKEI 225 SHORT
CONFIRMATIONS
1. JPN22 is in a current uptrend. Price usually gets rejected in this area. In order for price to push more up, it will most likely need to drop to my -27 extension on my fib before pushing more up.
2. Waiting for price to possibly hit my 50% retracement level to sell entry.
3. Double tops have formed which is a sign of a downtrend.
4. Chart could possibly be forming a rising wedge pattern or a bearish pennant.
5. However I could be possibly wrong there isn't much going on in the economic calendar, so price could continue to consolidate and big moved MIGHT not happen until later. Im not 100% sure.
6. Risk/Reward 4:2
7. 50 moving average is about to be over price.
8. Im bearish on JPN225 short term but bullish long term
1. JPN22 is in a current uptrend. Price usually gets rejected in this area. In order for price to push more up, it will most likely need to drop to my -27 extension on my fib before pushing more up.
2. Waiting for price to possibly hit my 50% retracement level to sell entry.
3. Double tops have formed which is a sign of a downtrend.
4. Chart could possibly be forming a rising wedge pattern or a bearish pennant.
5. However I could be possibly wrong there isn't much going on in the economic calendar, so price could continue to consolidate and big moved MIGHT not happen until later. Im not 100% sure.
6. Risk/Reward 4:2
7. 50 moving average is about to be over price.
8. Im bearish on JPN225 short term but bullish long term
Penafian
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