A few nice setups formed across the markets last session, putting an end to the 2 week swing trading drought we’ve been experiencing.
The Nikkei actually produced a nice swing trading opportunity on the daily chart.
Price is starting to make higher higher and higher lows – the footprint of a bullish market. It appears this market is trying to make a higher low at its current location, by rejecting a previous resistance level as it now holds as new support.
The bullish reversal candle has a bullish body – give it some nice bullish presence, and sits right on the mean value area as it also holds as dynamic support.
Not looking for any extended moves here, I think its good for 1:3 risk reward.