Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
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