I have a Bearish Stance on the JPN225 (The Nikkei 225)...BUT price MUST BREAK Previous Day's LOW First! No Break, No Trade.
- Previous Week's High and Current Week's Low Range Used to Plot the FIBO.
- Previous Day LOW Broken - indicating lower price (or it might be a false break...)
- Retracement to Congestion Area (Purplish Area) Prior to the Breakout of price that took out the Previous Day's LOW
- 1:2+ RR
- TP is Previous Congestion Area (Purplish Area) + Previous Week's Open (Yellow Line)
- TP FIBO 127% and/or 168%
Use at own risk...Am a rookie!
- Previous Week's High and Current Week's Low Range Used to Plot the FIBO.
- Previous Day LOW Broken - indicating lower price (or it might be a false break...)
- Retracement to Congestion Area (Purplish Area) Prior to the Breakout of price that took out the Previous Day's LOW
- 1:2+ RR
- TP is Previous Congestion Area (Purplish Area) + Previous Week's Open (Yellow Line)
- TP FIBO 127% and/or 168%
Use at own risk...Am a rookie!
Trade closed: target reached:
FIBO 127% Target #1 Reached