- Perfect channel, where price reached the top 2 weeks ago. Since then we had a lower high last week. Will is print another lower high this week?
- Within the big a is possibly forming too
- is long term , supports are quickly coming higher: Tenkan at 161,80, Kijun at 159,40 and and Senkou B at 156,20.
- Heikin-Ashi is -> watch candle and haDelta development this week.
- EWO is , but wave strength has reached approximately same height as one year ago. Market can not keep this momentum for too long.
- Price is all over the roof. Short term maybe overbought. Mkt trades ard steeper short term . Should it break below, a retest to Kijun could bring a healthy correction. Price has not touched Kijun Sen since December/2015
- Heikin-Ashi has signals of possible negative divergence via haDelta! Last two days spike was enough only for a lower high! haDelta/SMA3 is turning lower again.
- EWO probably had its top too.
All together we may still see some forced floating above 164, but it is not a good level to buy, nor a good technical structure to hold longs (especially multi- leveraged longs).
As (ATR) also started to decline, maybe it worths a try to set up some (0,5 unit) counter trend short position too.
For this you can add 4H timeframe to make a more precise strategy on entry.