NIX is looking attractive again after I had it closed earlier. Normally, I close my trade positions due to two factors 1) There is a slowdown in momentum and trend and thus selling now and buying back later - if structurally there is nothing changed in fundamentals - and 2) there is a structural changed in fundamentals. My earlier closed position was not due to the latter, but the former which was due to a price fluctuation in USDJPY and thus to the index's momentum. The trend is still intact and fundamentals are in an ongoing-recovery. After a global selloff round the world for many weeks, stability seems to have returned and it's a risk-on mode once again. NIX has consolidated for weeks and it seems to be gaining momentum again. It has formed a nice double bottom and Fisher transform is signaling a reversion soon. This is a good chance to take lucrative trade.
So, I recommend go long NIX.
So, I recommend go long NIX.
Trade chiuso: obiettivo raggiunto:
Closed a while back.