Kumowizard

Momentum, divergence, local top? Trade the 4H time frame!

FX:EURCAD   Euro / Canadian Dollar
123 2 8
Daily Ichimoku is bullish and also Heikin-Ashi provided a smooth nice trend up.
We don't have a sell signal yet, but

- Daily is reaching resistance zone
- haDelta and DMO             already warns about possibility of losing momentum within few days
- 4H is bullish , but haDelta, DMO             and EWO             all started to build some negative divergence.

What we have to look for is if price makes a higher high above 1,4900 on close! If not, then bulls should exit all longs and we can start to watch for a swing short entry.
For now just reduce longs if you have.

Cross is very close or at resistance. Also overbought short term. But if bullish on higher time frame market will often exceed previous top before beginning correction.
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Kumowizard CaliforniaTrader
That's why I only opened half unit short. Smaller risk, but works nicely so far.
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