The Nikkei 225 is hitting the long-term downtrend line.
After an impressive 8.3% rally, the Nikkei 225 is hitting the daily long-term downtrend line.Watch price action here. Be ready to short JPN 225 and USDJPY.
I have not opened any positions yet.
I have not opened any positions yet.
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Updated the chart
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Just before the Japanese market opened. I sold (shorted) 2 Nikkei 225 futures at $16540.
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About 1 hour and 50 minutes after the Japanese market opened. I sold (shorted) 2 Nikkei 225 futures at $16645. Stop loss is now 16640. The JPN225 was around 16577 then. JPN225 has hit and been turned back down three times by heavy resistance at 16600 (near the downtrend line).