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AnbHfund
Mar 12, 2015 8:23 AM

Short Nikkei : Bearish Crab : Gap Ahead Short

Description

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
Comments
IvanLabrie
Where would you place stops and where would you take profits?
AnbHfund
SL would be at 21000 And 50% profit booking at 15432 and rest would be in between 15432 till 14000 ..
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 ...
IvanLabrie
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.
AnbHfund
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 !!!
IvanLabrie
Excellent! Agreed 100%.
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