- is neutral: Price back down to Kumo cloud. Tenkan/Kijun is weak . Forward Kumo still points up! -> .
- A big pattern formation can be possible this year, but for this market should build the right shoulder. Will it? If yes, that means price should go up towards 1,50+, and give a sell signal there later this year. Please note this could take 5-10 weeks minimum. This scenario can become true in case WTI crue oil starts some form of correction and drops lower from recen 50 USD resistance.
- Heikin-Ashi candle looks , but the week has just started, so the momentum and follow through is a question. haDelta/SMA3 has some .
- EWO in zone, but again, if we don't see a quick collapse in price, it will build poisitive divergence.
- Last week we clearly saw the refusal ard 100WMA and Kumo (1,47) which we played with small shorts. What started to worry me here is that Price may faily to break below Kijun Sen. If instead of a follow through it pops from here, next surge can be violant, and that would put the daily structure on track again.
Tenkan is above Kijun, Price is between Tenkan and Kijun (in fact at spot cloud), Chikou is still above past candles.
All in all setupnis neutral, but can easily change towards if price pops, or if price breaks below.
- Heikin-Ashi gives us some warning! Candle body shrinks at Kijun suppp/res with higher low, haDelta/SMA3 crosses up (still below zero)
This makes me feel the pop from here is more likely then the continuation.
- EWO doesn't have much information now.
I closed my shorts last week. Actually I stay on the sideline, looking to enter long if I see a Heikin-Ashi signal, and a break back above 1,4600-1,4650.
Watch it closely with Oil , also watch 4H time frame for possible reversal signal!
p.s.: EURNOK price action is also worrying a bit.