EURHUF - Resistance zone. Partial TP on shorts!

35 0 1
I think EURHUF             we have to consider as sell on tops for the close future, but as it has reached a key resistance zone , I suggest to take partially take profit on short positions / reduce HUF             exposure.

- Ichimoku setup is back to neutral from bullish , with Chikou Span comeing back below Price candles. Price reached Kumo and key horizontal support. The major trend is still up.
- HA candle colour is red on the week, but haDelta looks like crossing back above SMA3 from a relatively low level. This means that last three weeks sharp selling may ease next week, and probably we'll some range consolidation or pull back to higher levels again.

- Decent bearish move sent Price below Kumo. The Future Kumo is bearish , so the strategy will remain sell on tops. However Price reached key horizontal resistance and short term uptrend line, while it has got far away from Kijun Sen (In these cases Kijun and Senkou B often attracts Price back a bit towards equilibrium). Chikou Span got to the lower level of past Kumo. A pause here or some kind of pull back is very likely.
- HA candles do not yet show the signs of reversal, only haDelta behaviour is strange a bit, looks like the bearish momentum softens a bit as it can not print lower lows.

I take profit on half of my short positions and try to catch a pullback. Even if we break lower by few big figs as next move, probably from 304-305 we will see pull back later. Where to re-sell it is a good question, let's see how it behaves during next week.
United States
United Kingdom
Việt Nam
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out