Warning: This is a counter trend quick trade.
JPN is in a downtrend on Daily. H4 is flat.
After last night's sell off there will be some buyers in the market looking for a deal.
We are going long based on:
1) There is a crab pattern
2) RSI divergence on M15
3) Strong support at 37500 area
Stop loss is 200+ pips and target is 400.
JPN is in a downtrend on Daily. H4 is flat.
After last night's sell off there will be some buyers in the market looking for a deal.
We are going long based on:
1) There is a crab pattern
2) RSI divergence on M15
3) Strong support at 37500 area
Stop loss is 200+ pips and target is 400.
Trade closed: target reached
Very interesting trade. We were up about 1% when dividends were paid out. The dividends was about 1.6% and the trade caused a loss of 0.8%. Based on this, it was a successful trade but we do need to look out for Dividend payouts. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.