There's a potential 8 bar downtrend about to confirm here.
If we see a swift move down from this level, we can expect the Nikkei to travel down, and fast.
Technically, you can enter shorts now, with a tight stop, but the 8 bar signal isn't confirmed yet.
Target on chart, for now an estimation, but possible.
Wait for confirmation if trading it. Might offer good clues for the yen traders too.
Thanks to Tim West for bringing it back to my attention yesterday.
Good luck,
Ivan.
If we see a swift move down from this level, we can expect the Nikkei to travel down, and fast.
Technically, you can enter shorts now, with a tight stop, but the 8 bar signal isn't confirmed yet.
Target on chart, for now an estimation, but possible.
Wait for confirmation if trading it. Might offer good clues for the yen traders too.
Thanks to Tim West for bringing it back to my attention yesterday.
Good luck,
Ivan.
