haug01
Short

The Nikkei 225 is hitting the long-term downtrend line.

FX:JPN225   Nikkei 225 Index
After an impressive 8.3% rally, the Nikkei 225             is hitting the daily long-term downtrend line.Watch price action here. Be ready to short JPN             225 and USDJPY             .

I have not opened any positions yet.
Comment: Updated the chart
Comment: Just before the Japanese market opened. I sold (shorted) 2 Nikkei 225 futures at $16540.
Comment: About 1 hour and 50 minutes after the Japanese market opened. I sold (shorted) 2 Nikkei 225 futures at $16645. Stop loss is now 16640. The JPN225 was around 16577 then. JPN225 has hit and been turned back down three times by heavy resistance at 16600 (near the downtrend line).
I closed the 2 futures at 16355. Net profit was (16540 - 16355)/5 = +185 ticks. I expect JPN225 will fall much further but I need rest. Japan's debt to GDP is approaching 250%. The Asian stock market TV shows say a massive round of quantitative easing is due later this month possibly including helicopter money.
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JPN225 tested support at16350 twice then broke down through that support on the third try,
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