Japan 225 Double Top in the Making
Price has made a First Peak with a retest of the BOS line at 33150.
A Neckline can be identified at 32130 , on lower volume.
Price is rising , and yet volume is decreasing. It is this Divergence of Price and Volume
that sets up the short side.
Wait for a break of the BOS line ( Bull Trap)
Two places to consider a short
1. A candlestick confirmation after the false break on low volume. ie Pinbar, Bearish Engulfing.
2. Break and Retest of the neckline with similar candlesticks, but this time on High Volume.
The weekly VWAP will act as resistance .
A Neckline can be identified at 32130 , on lower volume.
Price is rising , and yet volume is decreasing. It is this Divergence of Price and Volume
that sets up the short side.
Wait for a break of the BOS line ( Bull Trap)
Two places to consider a short
1. A candlestick confirmation after the false break on low volume. ie Pinbar, Bearish Engulfing.
2. Break and Retest of the neckline with similar candlesticks, but this time on High Volume.
The weekly VWAP will act as resistance .
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