Nikkei 225 Profits for + 600 Points & + 7R | Feb 3rd

Nikkei 225 – Getting Hammered, Remaining Bearish
We we’ve been writing about for weeks now here and here, the Nikkei 225 has been offering up a lot of selling signals and opportunities as of late. In our most recent weekly market commentary, we suggested selling in the 14750/775 area targeting 14590 and 13975. The Japanese index has not disappointed, coming right into our 14750/775 selling zone, and then dropped over + 600 points. Anyone using a 85 point stop entering at at the low end around 14750 would have profited now over +600 points and for +7 R as savvy price action traders did.

We remain bearish and will look to sell on rallies. Our first area to get short will be around 14360/80, and will be happy to sell further up around 14475/14500. Downside targets are 14130 and 13990

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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