- Trend is still . setup still has bias.
- Price reached strong weekly supp/res last week ard 1,4500 (dipped even below), where we have spot Kumo, Senkou B and 100 .
- haDelta/SMA3 warned you already last week, that this heavy drop and momentum might have got closer to its limit. After printing an extreme low, haDelta spiked above SMA3. This week HA candle shows undecision.
- EWO back to neutral, but given EWO peaks, I can say we only had the 3rd wave in. 5th Wave is still likely ahead of us. In 5th wave EWO will make a lower high than its previous, forming a divergence. That's how we'll suppose the close to exhaust.
- Nice move, which sent Price below Kumo. But Chikou Span (lagging line) has not dropped below past Kumo, so did not confirm continuation of this trend!
- supp/res area is 1,5075-1,5200
- Heikin-Ashi is noisy, with counter bias. haDelta points up. Oscillator is too. --> we can expect more consolidation or swing up towards 1,51.
Right now I do not see any high probability setup, therefor I am neutral and don't take any position.
Those who opened strategic short anywhere above 1,50, probably still feel comfortable holding. Playing counter trend long in small may work, but be careful, as has increased. (adjust position size or nominal stop level!)