EURHUF - The perfect trend channel in danger! Nice tech picture!
This bullish trend is generally one of the most perfect I have ever seen in my life, and probably the most perfect I have ever seen in case of EURHUF!
Look at the 4H chart in the right panel: not just the lower bullish trendline is touched tick by tick every time, but also the upper channel line is more or less perfect! Now we have a very good question here: will Price pop up one more time, or will EURHUF break this perfect trend and pull back to lower daily supports?
Daily:
- Bullish Ichimoku setup and bullish trend
- Heikin Ashi has a warning signal: price could not make a higher high in last three days, yesterday candle was a doji (hesitation), followed by a red candle today, which has kind of long body. haDelta/SMA3 is coming down, may enter subzero area, HA Oscillator turns bearish!
- Lower supports are: 307,50+ (Kijun Sen) / 305 (Future Senkou B) / 302 (current Senkou B - Kumo bottom)
4H:
- Bullish trendline, 100 WMA and Kumo being attacked, Ichimoku setup turns neutral. Weak bearish Tenkan/Kijun cross.
- possible bearish DMI cross, but it has to be validated by Kumo and trend break
- Bearish Heikin Ashi signal, which looks like being validated by a new haDelta/SMA3 bearosh cross below zero line.
You have to watch the following on 4H time frame:
1. If Price breaks trendline, 100 WMA and Kumo, then take profit on all your longs left. Wait for a pull back and go short in 311-312 area with possible 307 initial tgt.
2. If Price doesn't break the supports now, watch for the next swing high: if no higher high and you'll have a valid Heikin Ashi sell signal on 4H, then Sell first unit, then increase short when you see the breakdown finally.
Do not guess now, just follow rule 1. and 2.!!!
Buying it now is not a good risk-reward, not even by the fact we know about NBH monetary policy and their will to push their ccy weaker. In case Price action and signals tell you it is a sell, then sell it short term.
Longer term you may look for better risk-reward (cheaper) Bullish entry around daily supports mentioned above.
Look at the 4H chart in the right panel: not just the lower bullish trendline is touched tick by tick every time, but also the upper channel line is more or less perfect! Now we have a very good question here: will Price pop up one more time, or will EURHUF break this perfect trend and pull back to lower daily supports?
Daily:
- Bullish Ichimoku setup and bullish trend
- Heikin Ashi has a warning signal: price could not make a higher high in last three days, yesterday candle was a doji (hesitation), followed by a red candle today, which has kind of long body. haDelta/SMA3 is coming down, may enter subzero area, HA Oscillator turns bearish!
- Lower supports are: 307,50+ (Kijun Sen) / 305 (Future Senkou B) / 302 (current Senkou B - Kumo bottom)
4H:
- Bullish trendline, 100 WMA and Kumo being attacked, Ichimoku setup turns neutral. Weak bearish Tenkan/Kijun cross.
- possible bearish DMI cross, but it has to be validated by Kumo and trend break
- Bearish Heikin Ashi signal, which looks like being validated by a new haDelta/SMA3 bearosh cross below zero line.
You have to watch the following on 4H time frame:
1. If Price breaks trendline, 100 WMA and Kumo, then take profit on all your longs left. Wait for a pull back and go short in 311-312 area with possible 307 initial tgt.
2. If Price doesn't break the supports now, watch for the next swing high: if no higher high and you'll have a valid Heikin Ashi sell signal on 4H, then Sell first unit, then increase short when you see the breakdown finally.
Do not guess now, just follow rule 1. and 2.!!!
Buying it now is not a good risk-reward, not even by the fact we know about NBH monetary policy and their will to push their ccy weaker. In case Price action and signals tell you it is a sell, then sell it short term.
Longer term you may look for better risk-reward (cheaper) Bullish entry around daily supports mentioned above.
