Price has hit the trendline and rejected nicely. Price now create an inside bar and decision will be based on the next candle after the inside bar. Plan 1: Sell when next candle breaks down the inside bar Plan 2: Buy when next candle breaks up the inside bar Target will be next support or resistance
@rayan123alkoles, My view is around 29180, 29890 and 30700. But this is not a good time to buy Nikkei as price may go down further. Especially yesterday candle is a big red candle and look at 4hour chart formed an inside bar breakdown. Wait for the price to give buy signal. It's either the price breaks up the resistance, or it forms one of these pin bar, inside bar breakup or engulfing candle on support area. Actually my 1st Plan, which is in green is to sell Nikkei which I believe it most likely goes down. Reason: 1. Price touches down trend line 2. Price rejected nicely from that zone 3. 4 hour chart formed inside bar breakdown and last candle engulfs previous candle. Daily candle is also showing a strong bearish
rayan123alkoles
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@yohanes_fillipo yes definitely it’s looking very bearish I’ve sold for tp of 25800 what do you think ?I’d like your professional feedback
yohanes_fillipo
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@rayan123alkoles, Your TP looks good but make sure you've secure some profits otherwise your profit is just a history that you can never enjoy. I'm seeing a resistance at 27200. if price breaks up that resistance, I'm afraid the trend has changed. Becareful with fake breakout though, wait for the candle to close to understand it.
rayan123alkoles
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@yohanes_fillipo thank you for your advice! I sold from higher level of 27700 for a take profit of 24500 obviously taking profits as I go along