Bullilsh:
- Breakout of bullish descending narrowing wedge.
- Bullish crossover of Fisher Transform.
- Bullish crossover of 5 EMA / 20 EMA.
- Bullish engulfing candle potentially forming.
- Broken through .382 Fib.
- Parabolic Sar has flipped bullish 4 candles ago.
- Aroon Up Bullish (92)/ Aroon Down Falling (currently 57) suggesting bullish momentum and bulls have the edge.
- Bullish crossover of MACD
Bearish:
- .5 Fib resistance (of ATH to December 2018 bottom) directly above.
- Stoch RSI oversold
Neutral:
- RSi
BIAS on 4 hour = Bullish
SL 11,200 (aggressive)
SL 11,000 (medium risk below 5 EMA)
SL 10,950 (low risk below 20 EMA)
My Entry 11,079
TP1 12,065 (CME GAP)
TP2 12,250 (0.618 FIB)
TP3 12,980 (Green Channel Resistance)
I don't think we will go any higher at the very most than 13,300ish.
If we reach any of these take profit targets then dependant on indicators; I will start to take a percentage of profits and as well as start entering shorts.
- Breakout of bullish descending narrowing wedge.
- Bullish crossover of Fisher Transform.
- Bullish crossover of 5 EMA / 20 EMA.
- Bullish engulfing candle potentially forming.
- Broken through .382 Fib.
- Parabolic Sar has flipped bullish 4 candles ago.
- Aroon Up Bullish (92)/ Aroon Down Falling (currently 57) suggesting bullish momentum and bulls have the edge.
- Bullish crossover of MACD
Bearish:
- .5 Fib resistance (of ATH to December 2018 bottom) directly above.
- Stoch RSI oversold
Neutral:
- RSi
BIAS on 4 hour = Bullish
SL 11,200 (aggressive)
SL 11,000 (medium risk below 5 EMA)
SL 10,950 (low risk below 20 EMA)
My Entry 11,079
TP1 12,065 (CME GAP)
TP2 12,250 (0.618 FIB)
TP3 12,980 (Green Channel Resistance)
I don't think we will go any higher at the very most than 13,300ish.
If we reach any of these take profit targets then dependant on indicators; I will start to take a percentage of profits and as well as start entering shorts.
Trade active:
Take Profit 1 Reached (well close enough too $10~ shy of target)
If not entered yet, wait for a pull back to the 5 EMA around 11,600ish currently.
If not entered yet, wait for a pull back to the 5 EMA around 11,600ish currently.
Comment:
Note, plenty of momentum left on the 6 hour to take us up to the maximum of 13,300ish. This might change, but currently looks promising.
Comment:
Parabolic Sar flipped on one hour. Fisher Transform almost maxed on 4 hour. Descending triangle forming on half hour. I think we go down to retest the yellow channel support before any further move up. I have taken all profits and will seek to buy in around 11,300 dependant on indicators.
Trade closed: target reached
Trade active:
Descending triangle fake out. This could still be on.
On half hour chart bullish crossover of ADX/DMI, and Fisher Transform. Also just crossed over bullish on BB 20 MA mid line.
MACD is neutral. RSI momentum starting to build to upside.
Parabolic SAR just flipped on 15 minute.
Re-entered 11,732. SL set 11,707 (below small triangle resistance turned support). Will move SL as we head higher.
On half hour chart bullish crossover of ADX/DMI, and Fisher Transform. Also just crossed over bullish on BB 20 MA mid line.
MACD is neutral. RSI momentum starting to build to upside.
Parabolic SAR just flipped on 15 minute.
Re-entered 11,732. SL set 11,707 (below small triangle resistance turned support). Will move SL as we head higher.
Trade closed: target reached:
Take profit 3 reached. Good trade. See latest analysis for path to double top.