Brown.Michael.6
Long

THE NEXT OPPORTUNITY ON THE NIKKEI

FX:JPN225   Nikkei 225 Index
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in my last post I talked about 3 ways the Nikkei could go before going up, it has gone though the lower end of the range and bounced off the trend line . I ended up missing this trade due to being away. but there is now another set-up approaching : when we get to the top of the range expect an explosive brake out to the upside, having had 3 touches we will brake to the upside with my medium term target 20100 before putting in a new high on low volume and a down trend starting.

what I'm looking for
in an ideal world i'd like to see price get to around 19000 and then retrace a little on the 4hr time frame to give a tighter stop, however this may not happen before breaking out so if that doesn't happen i will then reassess as price gets closer for where to place the stop and may move to a 60 or 30 min chart to find it.

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Nov 03
Comment: a nice spot to place a stop loss has appeared at just under 18900
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