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Triangle break bearish on Japan225?


Mercury

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I don't trade this much but there are a lot of pips on offer on Japan if you get it right.  The general shape of the price action is suggestive of a bearish sentiment with a possible A-B-C complete just short of the 50% Fib.  the ending Triangle formation seems good, though Ideally I'd like to see another hit on the top line, maybe at the 50% Fib?  having said that the shape is suggesting the top has already been hit but a sharp 1-2 relief rally is probable behind US opening (remember this market is closed right now).

 

I'll be tracking this over the course of the day and if it looks good may put a stop in short over night at the 50% OR go earlier if the US markets drive a 1-2 earlier.

 

here is the chart



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