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29 Jul 2014
Nikkei 225: Go with the bull trend - 2ndSkies
FXStreet (Bali) - Following the upside breakout in the Nikkei 225, Chris Capre, Founder at 2ndSkies, recommends to keep trading inline with the bullish trend near term.
Key Quotes
"On our July 24th daily market commentary, we noticed how the Nikkei was setting up for a medium term breakout by forming a price action squeeze."
"We specifically suggested buying on dips to the 15325 level, with the Japanese index hitting a low the next day of 15316, then rocketing higher over the next two days."
"For now, look to trade inline with the trend, and watch for pullbacks towards the 15500 area key role reversal level, all the way down to the daily 20 ema for potential levels to get long."
"For those who have not taken profit, we'd suggest taking some off the board and neutralizing all risk. The next levels to watch on the upside are 15750 and 15900, so a lot of potential profit available."
Key Quotes
"On our July 24th daily market commentary, we noticed how the Nikkei was setting up for a medium term breakout by forming a price action squeeze."
"We specifically suggested buying on dips to the 15325 level, with the Japanese index hitting a low the next day of 15316, then rocketing higher over the next two days."
"For now, look to trade inline with the trend, and watch for pullbacks towards the 15500 area key role reversal level, all the way down to the daily 20 ema for potential levels to get long."
"For those who have not taken profit, we'd suggest taking some off the board and neutralizing all risk. The next levels to watch on the upside are 15750 and 15900, so a lot of potential profit available."