AnbHfund
Short

Short Nikkei : Bearish Crab : Gap Ahead

CME:NY1!   NIKKEI 225 Futures
Short Nikkei with bearish crab completing in between 19139 to 19756 (also a gap ) and a trendline resistance at 19139.
Short Nikkei and long XAUUSD

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Where would you place stops and where would you take profits?
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AnbHfund IvanLabrie
SL would be at 21000 And 50% profit booking at 15432 and rest would be in between 15432 till 14000 ..
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AnbHfund AnbHfund
A hedge would be more suitable since gold and nikkei are correlated to 99% .....since last year or so....So I would long both XAUUSD And Long Nikkei ......And once we get a confirmation on Nikkei/Gold we would close the loss making position ...
+1 Reply
If you watch my chart, you will see it can hit up to 23155 in an extreme scenario...my projection points to 20381-21659 as the area to watch though.
I've seen many of the pattern traders get stopped because of a too tight SL. SL has to be over significant resistance, which would invalidate your trade in my view, and here it would be 23156.
+1 Reply
AnbHfund IvanLabrie
Long Nikkie & Long XAUUSD is up about 5% .....Somebody has to give in and it cant be gold so time to wrap up nikkie party !!!
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Excellent! Agreed 100%.
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