Nikkei retesting horizontal resistance – Is it time to sell? - Forex News by FX Leaders

Nikkei retesting horizontal resistance – Is it time to sell?

Posted Wednesday, September 5, 2018 by
Arslan Butt • 1 min read

What’s up, fellas.

As you know, the market is facing a sort of uncertainty due to the U.S. – China trade war and extended NAFTA negotiations between the U.S, Mexico, and Canada. Which is one of the reasons why stock markets are trading under selling pressure…

In order to encash the opportunity, we took a trade to sell the Nikkei at $22,574 with a stop at $22,600 to target $22,524. As we can see, the NKY is trading exactly as planned and is gonna hit our take profit. Once the market closed my position at the target, I will be looking to take a buying position above $22,425. Stay tuned to FX Leaders signals page for more updates!

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles

Leave a Reply

Notify of