NIKKEI22 Potential for bearish drop to overlap supportLooking at the H4 chart, my overall bias for NIKKEI22 is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
Looking for a sell entry at 27419.15, where the overlap resistance is. Stop loss will be at 27844.15, where the recent high is. Take profit will be at 26517.50 where the overlap support is.
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Nikkei22
Buying Nikkei at current lows.NIK225 - 20h expiry - We look to Buy at 25620 (stop at 25400)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Previous support located at 25616.
Preferred trade is to buy on dips.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Our profit targets will be 26245 and 26430
Resistance: 25795 / 26430 / 26830
Support: 25060 / 24500 / 24120
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
