forextrader1088

Japan 225 - SHORT

Short
FX:JPN225   Nikkei 225 Index
On the daily chart I drew the fib levels, then zooming into lower time frames, you can see a shooting star forming right on the fib level, also the fib level which could cause this reverse is 0.618% a key level in the fib tool. Also on this time frame you can see the stoch showing this as over brought, also on high time frames you can see this level been used as resistance and support in the past.

Confluences summed up
- Potential shooting star
- 0.618% Fib
- Over brought according to the stochastic
- Past support and resistance .
- Past ma crossover.