Greetings everyone, last week on Twitter I posted my view on NIKKEI while it was trading around 22700. I was bearish and opened a short position.
— Alexandros Yfantis (@alexanderYf) July 17, 2018
Price initially moved higher but the bearish divergence and the bearish wedge pattern price was in, kept me comfortable short and with the view to add to my short position.
— Alexandros Yfantis (@alexanderYf) July 18, 2018
Soon after the wedge pattern broke down.
— Alexandros Yfantis (@alexanderYf) July 19, 2018
I remained short and took some profits around 22400.
I did not want to be greedy. So what now? I expect a new sell signal to come in NIKKEI as I believe we should expect one more leg lower towards 22k.
The recent high at 22650 can be used as stop. Confirmation of the break down will come with a push below 22500. I look to take profits around 22275 and 22000.
Thank you for taking the time to catch up on my thinking.