Kumowizard

USD had a bit of bullish bias, but in fact not trending

INDEX:DXY   U.S. Dollar Index
115 3 7
Weekly:
- Since April 2015, Ichimoku setup has been turning to neutral from bullish . Price is still above a thick Kumo cloud, but Tenkan and Kijun have been flattish for some time now. Basically DXY             has been trading in a wider range of 93,5 - 98
- Heikin Ashi shows some increasing bullish bias early this week, but we need to see what will price do around Kijun Sen.
- In fact USD is not trending. It is a rangebound mkt. For bullish continuation price should break and stay above 97,50.

Daily:
- When something is not trending, Ichimoku will not help you, as the system was designed for trendfollowing. Right now the setup is neutral, with some (minor) bullish bias
You can see we have had a lot of mixed and late signals given by IKH components. So purely following Ichimoku rules probably was/is not the best strategy. This is one reason I combine it with Heikin Ashi, with higher focus on price action (HA signals) around Ichimoku support/resistance levels
- Heikin Ashi signal was bullish ... until today: looks like we'll have a lower high and small body, after Price reached 96,50+ resistance around Kumo. haDelta/SMA3 also shows some loss off momentum , however still holding above zero line.

It is not trending, right now trades in middle of the range, picture is mixed. Hard to call now which way it goes next.

When you can't decide, and you don't have a clear signal, you don't have to bet. No one forces you to trade and to always have a position. If mkt is neutral, you can stay neutral too.
Killy_Mel
a year ago
Hi friend!) looks pretty rangebound at daily)
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Kumowizard PRO Killy_Mel
a year ago
indeed. trading in a pretty wide range. no trend. When you have times like this, you can either try to switch one time frame lower (4H I use as the lowest time frame to setup trades), or you try to use oscillators and Heikin Ashi only to catch swings within the range.
+2 Reply
Killy_Mel Kumowizard
a year ago
agreed on swings) I use the same bollinger bands as tools tho - however it is up to individual trader on how to catch them)
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