Luettis

Nikkei 225 in diamond pattern

INDEX:NKY   Nikkei 225 Index
buy: if price breaks out of this pattern to the top with 1. aim 22.143 pt (fib retracement 78.6%) and 2. aim at 22.763 pt (swing trend line )

another active chart pattern is the existing trend channel which can be considered as strong because it has been tested on the downside several times and the index is sitting just on this limit; so a break of this line signals falling prices

stop: when price breaks through the bottom line at 20.930 pt

indicators: weak - so be careful
Mar 23
Trade active:
Mar 23
Comment: Nikkei has chosen the way down after leaving the diamond pattern.
It has not only broken the lower limit of the ascending trend channel but also the signal line coming from the pattern.
It´s now on the fib retracement 61.8% - an important support.
Mar 26
Comment:
Mar 27
Trade closed: target reached:
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