Nikkei 225 – Range Cleared, Offered Great Breakout Pullback Setup
Yesterday, in our notable mentions category in the private members commentary, we mentioned the Nikkei 225 and range that was in play between 15645 and 15800. Today the Japanese index screamed higher, busting through the range highs taking no prisoners.
It did however offer a great breakout pullback setup, pinging right off the level, only going 2 points below, then launching another +128 pips higher. And a shout out to some of our members who posted some highly profitable trades on this setup.
For now, we remain bullish while above 15800. Weak pullbacks into 15870 and 15800 could be considered for potential longs. Upside resistance is at 15980 and 16060. Beyond this, there is not much till 16260, so lots of upside available if this thing wants to run.
