Nikkei retesting horizontal resistance – Is it time to sell?

As you know, the market is facing a sort of uncertainty due to the U.S. - China trade war and extended NFTA negotiations between the U.S...

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

• Last updated: Wednesday, September 5, 2018

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!