Sell at resistance zone, size up short if breaks below 1,2800
- Ichimoku setup is neutral, with some bearish bias: Price is at the cloud, below Kijun Sen (26 days avg) and slightly above Tenkan Sen (9 days average). Market trades exactly around equilibrium level of 1,2930, marked by forward Senkou B lines.
Tenkan and Kijun both flat at the level of the Kumo. Forward Kumo is also thin and flat.
Chikou Span is below past candles (but above past Kumo)
- Heikin-Ashi swing bullish signal losing momentum: see haDelta+ and haOscillator.
- Until price is below Kijun, and EWO is bearish, we should look for sell signals at 1,29-1,30 resistance zone.
- Lower key levels are 1,2870 and 1,2780. A trade below would print a Head and Shoulders pattern to target 1,24.
Strategy: Either sell smaller clips on upticks (accumulate upto half risk adjusted trade unit size), or wait for a clear Heikin-Ashi sell signal and go short with a full unit.
Place initial stop at 1,3070.
Should market break below 1,2800, size up the position and hold to 1,2400 target, trail stop.
Tenkan and Kijun both flat at the level of the Kumo. Forward Kumo is also thin and flat.
Chikou Span is below past candles (but above past Kumo)
- Heikin-Ashi swing bullish signal losing momentum: see haDelta+ and haOscillator.
- Until price is below Kijun, and EWO is bearish, we should look for sell signals at 1,29-1,30 resistance zone.
- Lower key levels are 1,2870 and 1,2780. A trade below would print a Head and Shoulders pattern to target 1,24.
Strategy: Either sell smaller clips on upticks (accumulate upto half risk adjusted trade unit size), or wait for a clear Heikin-Ashi sell signal and go short with a full unit.
Place initial stop at 1,3070.
Should market break below 1,2800, size up the position and hold to 1,2400 target, trail stop.