JP225 (Nikkei) short position
Been following the Japanese Yen over the past week and it has been showing significant. It's correlation to the Japanese index is negative. When the Yen strengthens, it pushes the price of the Nikkei down.
Currently waiting for price movement to become bearish again and break 15 minute trendline to hold a short position. Will trail it from there on. Stop will be placed above 38% fib of daily chart. The results of this trade could change as FED rate decision is pending on Wednesday. The market could buy into the Nikkei should risk sentiment shift significantly to the positive side.
Currently waiting for price movement to become bearish again and break 15 minute trendline to hold a short position. Will trail it from there on. Stop will be placed above 38% fib of daily chart. The results of this trade could change as FED rate decision is pending on Wednesday. The market could buy into the Nikkei should risk sentiment shift significantly to the positive side.
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