The Nikkei is correcting the last upward leg in the daily chart after signaling a 3 bar daily uptrend, time expires today, and the 4h chart paints a clearly bearish picture.
The minimal target is on chart, and to enter the trade I'd look into selling a range expansion down bar out of the mode at 20785.
You would have to use my indicator and wait for a bar to turn red to market sell, or sell now if your strategy allows it.
Mine doesn't, as price sits in a triangle right now, with conflicting shorter term trends colliding, I'd advice against jumping the gun. The linear regression is another cue, a breakout and 1 bar close without touching the mode is the go signal.
Good luck!
Ivan.
PS: you can also use this chart as the opposite, a cue to go long Nikkei and/or USDJPY after confirming the selloff (which would take price into my buy area in the case of the Yen)
The minimal target is on chart, and to enter the trade I'd look into selling a range expansion down bar out of the mode at 20785.
You would have to use my indicator and wait for a bar to turn red to market sell, or sell now if your strategy allows it.
Mine doesn't, as price sits in a triangle right now, with conflicting shorter term trends colliding, I'd advice against jumping the gun. The linear regression is another cue, a breakout and 1 bar close without touching the mode is the go signal.
Good luck!
Ivan.
PS: you can also use this chart as the opposite, a cue to go long Nikkei and/or USDJPY after confirming the selloff (which would take price into my buy area in the case of the Yen)
