I have a Bearish Stance on the JPN225 (The Nikkei 225)...BUT price MUST BREAK Previous Day's LOW First! No Break, No Trade.
- Previous Week's High and Current Week's Low Range Used to Plot the FIBO.
- Previous Day LOW Broken - indicating lower price (or it might be a false break...)
- Retracement to Congestion Area (Purplish Area) Prior to the Breakout of price that took out the Previous Day's LOW
- 1:2+ RR
- TP is Previous Congestion Area (Purplish Area) + Previous Week's Open (Yellow Line)
- TP FIBO 127% and/or 168%
Use at own risk...Am a rookie!
- Previous Week's High and Current Week's Low Range Used to Plot the FIBO.
- Previous Day LOW Broken - indicating lower price (or it might be a false break...)
- Retracement to Congestion Area (Purplish Area) Prior to the Breakout of price that took out the Previous Day's LOW
- 1:2+ RR
- TP is Previous Congestion Area (Purplish Area) + Previous Week's Open (Yellow Line)
- TP FIBO 127% and/or 168%
Use at own risk...Am a rookie!
Trade closed: target reached
FIBO 127% Target #1 Reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.