haug01
Short

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

FX:JPN225   Nikkei 225 index of Japanese listed shares
154 2 3
6 months ago
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.
6 months ago
Comment: Updated the chart
6 months ago
Comment: Just before the Japanese market opened. I sold (shorted) 2 Nikkei 225 futures at $16540.
6 months ago
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).
haug01 PRO
6 months ago
JPN225 tested support at16350 twice then broke down through that support on the third try,
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haug01 PRO
6 months ago
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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