Brown.Michael.6

JAPAN 225 STALKING A NEW LONG POSITION

FX:JPN225   Nikkei 225 index of Japanese listed shares
102 0 3
over the last week my previous post didn't plan out, price action has been bouncing around in a trading range, working off over bought conditions. i see 3 options of how this will play out, the first way and my preferred option is price moves towards the bottom of the range and either bounce's off the 18700 level or puts in a higher low back to the top back to the 19180 setting up for an expansion trade with a nice tight stop loss. the 2nd option is price breaks though the bottom of the range, and heads to the red trend line to move back up. and the 3rd option that i believe is a little less likely is it breaks to the downside of the range and the trend line to test the 18400 level of the break out.

MY TRADE PLAN:
i will be watching closely on Monday how price reacts if i get a higher low i will be entering long, with only a small position, or on any rejection of the the lower level or the trend line, and then having the rest rest of my psition order for an expansion trade.

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