Nikkei 225 - Pin Bar Rejection + Potential Triple Top | Sep 29

nikkei

Nikkei – Potential Triple Top & Sell Signal
Although the Japanese index formed two HLs (higher lows), it formed a double top + pin bar rejection, and slightly LH (lower high) at 16425 last week. I suspect with the solid bounce today we’ll get another attack on this double top, forming a potential triple top (4hr chart).

If the 1hr or below shows some weakness or stalling up there, I’ll look to sell with a tight stop above, looking for a range-like play back down towards sub-16200 which would offer a good risk-reward ratio. Any daily close above there will put 16500 in sight, and then 16625, which is the lows from March 2007. Yep, getting into some long dated …

... Keep reading