Apologize for all of the lines but have cleaned it up as best I can. Nikkei has run into a whole swath of resistance.
1. Dark blue line is base line of pitchfork stretching back to lows of 2015/16. Big if here is a daily close below that.
2. Both the dashed and solid purple lines are 150% channels of the modified pitchfork which price has been respecting all year and the newly developed regular pitchfork (solid)
3. Running into .786 retracement of 2017 PA
Would either look to scale into short with subsequent rejections of purple lines or upon daily failure of price to hold above blue channel short retracement.
1. Dark blue line is base line of pitchfork stretching back to lows of 2015/16. Big if here is a daily close below that.
2. Both the dashed and solid purple lines are 150% channels of the modified pitchfork which price has been respecting all year and the newly developed regular pitchfork (solid)
3. Running into .786 retracement of 2017 PA
Would either look to scale into short with subsequent rejections of purple lines or upon daily failure of price to hold above blue channel short retracement.