Buy Pullbacks in the Nikkei - Forex News by FX Leaders

Buy Pullbacks in the Nikkei

Posted Wednesday, November 1, 2017 by
Rowan Crosby • 1 min read

Stock markets just don’t quite know how to go backwards at the moment. For that reason, we only want to be trading with the trend for the time being. Fortunately, almost all markets are giving us some great opportunities.

However, it’s really been the Nikkei that has been one of the very best performers in recent times. In some ways, it’s been leading some of the others including the S&P 500.

What’s been particularly nice about the Nikkei chart, is the price action. The pullbacks have been quite clean and if you look closely, the RSI has been a helpful tool in identifying those pullbacks.

If we get some more weakness today then I’ll be looking for another long entry in the Nikkei. However, I want to first see an RSI below 20 to get us started. Skerdian identified a profitable opportunity in the Nikkei yesterday so keep an eye out for more potential signals.

 

Nikkei

Nikkei – 240 min Chart.
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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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