GrantShuttleworth

Price looks like its creating a range

FX:JPN225   Nikkei 225 Index
47 views
4
Reason
1. Quiet week ahead

I will wait for price to break this range before taking a position. There have been 3 attempts at resistance which leads me to think that players need liquidity and will go hunting within this range

Comments

Hi, Long looks very appealing. But as i am newbie. I do not know. It did break 18100 yesterday and retraced back to 18000 again. Are we still waiting for breaking out of the range?
Reply
@indkitty, Price has broken above the range now so we look for longs. I will wait for a pullback to about 18100 before aiming for my target level. The pullback to 1800 was just the market searching for liquidity to go long...think of it like a bear trap.
Reply
indkitty GrantShuttleworth
@GrantShuttleworth, Thanks for the info. Now it has crossed 18200 and hovering around 18100 and 18200. Once again thanks for the tip.
Reply
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