- setup is still . Kijun Sen is catching up to spot price.
- Long term formation in progress
- Heikin-Ashi candle is , but haDelta/SMA3 below shows some momentum problem, as market was unable to make a higher high for last 4 weeks
- EWO and are still , but both has developed some divergence
- Supports: 165,75 / 164,45 / 160,50
- setup is , but Kijun moved up close to spot price. Tenkan and Kijun are at same level
- Watch for a possible formation, with a slightly lower second high!
- Heikin-Ashi shows loss of momentum. haDelta however is still above zero line, so wether we'll have a reversal or just a tight range consolidation first is still not clear.
- Supports: 166,85 / 165,70
- setup is back to more neutral. Price failed to make a higher high.
- Price is very close to first support at 166,85. Maybe it holds, maybe it doesn't, but if market spikes once more and still failes to make higher high, then next selling wave will break the Kumo and 100wma.
- Lower support is 165,75
Strategy: I prefer selling short this market on spikes. Especially if it delivers lower highs on 4H time frame.
The real key is 165,75. Until it breaks, we have to suppose market will be trading in 165,75 - 167,75 range.