Nikkei 225 – Continues Higher, Hits First Target for +400 Points
Back on our July 24th daily market commentary, we suggested buying on a pullback into 15325 as we suspected an upside breakout was looming with the price action squeeze forming. As you can see, the Japanese index did climb much higher from the next day of our trade setup, closing bullish 4 days in a row.
The Nikkei hit our first target of 15725 for + 400 points, and with a stop of 100 points below the pin bar the day before our entry, you would be up a nice +4R profit. Many members in my trading community profited from this trade as it was widely discussed for days before and after, so hopefully you did the same.
For now, the bull trend is intact so we’ll continue to trade with the trend as it appears to be well onto its second target of 15900. Any corrective pullbacks towards 15560 or 15500 should be considered for buying opportunities to rejoin the trend.
