Nikkei – Forming Medium Term Price Action Squeeze | Jul 24

Nikkei 225 – Setting Up for Price Action Squeeze
While most European indices are still struggling with the political situation in Ukraine, the Nikkei has been consistently building and is forming a price action squeeze on the 4 hour chart below.

Notice how the resistance level has remained stable and held the last three attempts, but that the overall highs continue to build. This suggests the overall price action context supports the bulls, who are consistently buying dips, while the bears have to remain at the same place just to hold their line. Overall, this favors the bulls and is hinting at a potential upside breakout in the near future.

For now, look for bears to step in one last time at the key resistance level at 15470, perhaps offering a short term selling opportunity. But look to pick up the index on dips near 15200, 15275 and 15325 for an eventual breakout.

nikkei 225

Read our latest article The Aggregation of Marginal Gains in Forex Trading to improve your performance and profits.

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. 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 18yrs 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.

Related Article