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NIKKEI 225 Index Strugles to break above 20200 Update: TP1 Reached

NIKKEI 225 Index Struggles to break above 20200

The correction of Deep dive from 21600 to 19000 seems to be blocked by 20200 resistance.

An ascending triangle pattern is being printed on H4 Chart. – Potential bearish continuation pattern. –

Short at the potential breakout.

Bullish breakout would be validated at 20225.

I have  two short trade setups:

SETUP 1: Short at the market price 20.020 Stop 20300 targets 19.650 and 19.100 Update: TP1 Reached

SETUP 2: Short at the breakout of 19.800 targets 19.650  19.400  19.100 Update: TP1 Reached

You can view the setup: NIKKEI Bearish Continuation

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

NIKKEI: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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