On April 1st I tweeted about the Nikkei 225 being bearish and that I was looking to sell. Then yesterday the Nikkei gave a nice breakout trade setup which is currently up about +475 points of profit as of this writing.
Members will see price action here clearly, but this is a classic breakout setup. For now the index has formed a small corrective structure which suggest very little profit taking with the bearish pressure remaining.
Those not already short can look for pullbacks towards 16000 as I’ll be bearish while below that and 16.3K on a daily closing basis. Downside I’m targeting 15K/14.9K.
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