Nikkei may have offered two following trading opportunities which are pairing with the zigzags we see on USDJPY forex pair.
First of all, a bearish Cypher pattern has just completed today. I will short the market on opening, targeting 19215 and 18995. SL set at 19700.
If the trade completes correctly, I will long the second pattern, a potential bearish Butterfly. To make it valid, we should not close the day above today´s high and below 19102. My target for the pattern is 20000 and SL at 18800 if the market gets to 19100 or 18992 values
First of all, a bearish Cypher pattern has just completed today. I will short the market on opening, targeting 19215 and 18995. SL set at 19700.
If the trade completes correctly, I will long the second pattern, a potential bearish Butterfly. To make it valid, we should not close the day above today´s high and below 19102. My target for the pattern is 20000 and SL at 18800 if the market gets to 19100 or 18992 values
Trade active:
Took profit from the short position and opened a long
Comment:
Important: The long position opened at 18992 and it is not in a small profit. If market closes below 19102 today, whatever happens afterwards, I close the long as the second pattern will be invalidated
Trade closed manually:
Closed well below 50% retracement which invalidates the second pattern. I close my long opened at 18992
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!