Japan 225 CFDShort
Symmetrical pattern forming in Nikkei 225
Updated
I am of the opinion that the stock price is more likely to fall than continue going up. So, let's wait for the confirmation where the share price breaks down from the green bullish trend line.
You can see the risk reward ratio is very attractive, using little capital for a good profit margin.
We can also see after the peak on 11 July 2024, it has come down to a lower high at the 40,000 price level 4 times but fails to break above it each time. This is a clear signal that the market is exhausted and selling or profit taking is here.
Could I be wrong and the price breaks out from the symmetrical pattern and goes higher ? Of course! That is why you need a tight stop loss to protect yourself so that over time your losses are lesser than your gained capital netting a profit.
You can see the risk reward ratio is very attractive, using little capital for a good profit margin.
We can also see after the peak on 11 July 2024, it has come down to a lower high at the 40,000 price level 4 times but fails to break above it each time. This is a clear signal that the market is exhausted and selling or profit taking is here.
Could I be wrong and the price breaks out from the symmetrical pattern and goes higher ? Of course! That is why you need a tight stop loss to protect yourself so that over time your losses are lesser than your gained capital netting a profit.
Note
hmmm, it has broke out of the symmetrical triangle but today closing candles is key as it would determine if it close above or below the triangle. wait for it Trade active
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