Nikkei 225 - Technical Trade Note

Trade idea on Nikkei 225 (NI225)

I am looking to long the Nikkei 225 as I missed the breakout from the triangle on the third of January 2018. The Nikkei has been pushing higher from there and has started to consolidate between the 23500 and 24000 level before hopefully pushing higher as shown in the chart.

Nikkei Trade Note 1.png

Source Bloomberg

NOTE: Looking to enter the trade only if there is a clear break out of the sideways channel and it must preferably close above this level to confirm the continued uptrend. Do not enter the trade prematurely.

Trade: Nikkei 225 (NI225)

Entry (Buy): 24023 OR clear break from 24000
Stop loss: 23778
Target price: 24403

Nikkei 2.png

Source – Bloomberg.

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