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Nikkei 225 – Drops ~500 Points in One Day, Forms Inside Bar Setup | Apr 10th
Nikkei 225 – Loses Over 3% in 1 Day
Opening the day just a hair under 14.5K, the Nikkei 225 sold off virtually from the open in a blistering fall. It’s currently holding onto the 14K key support level, which has had only one close below since Nov. 13′.
After such a fervent sell-off, I’m suspecting a period of consolidation. I’ll look to sell any pullbacks to 14.5K , or 15K. Downside targets are 14K, and an eventual break of the multi-month support, gunning for 13.2K. If the index immediately sells off on the last day of trading this week, then 13.9 and 13,750 are up next.
***NOTE: Check out the 1hr chart & the inside bar setup right at the daily lows/support.
Read our latest price action article on Trading the False Break Strategy
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