Price just cant seem to close above the 53 000 level on higher time frames and it has tried numerous times. When price tries something and fails multiple times it will often go the opposite. So i am taking a short on this index on the 1h time frame. Here price is already trading under the Kijun,which is above the tenkan (bearish signal). The cloud is thick so it will probably need a momentum move to penetrate it. The lagging span has a better passage down than up. The stop is is just above the kijun resistance. This increases R but we could also get stopped out,the risk is worth the reward. The trade is a sell limit,so i anticipate price will temporarily go up again and test the kijun zone thereby triggering the trade then from there plummet.
Sell Limit Entry: 52 591
Stop Loss : 52 848
Take Profit : 51 402
R : 4.62
Sell Limit Entry: 52 591
Stop Loss : 52 848
Take Profit : 51 402
R : 4.62