EURNOK - Hold shorts! Watch range break at 8,55 for continuation
Daily:
- Ichimoku setup is bearish. Price below Kumo and Kijun Sen. For confirmation we need Price break a bit lower, sending Chikou Span into open space after its bearish break below the past Kumo.
- Heikin Ashi has been showing undecision for more than 2 weeks now. Green, red and doji candles changing each after. Today candle is bearish, with haDelta turning down again. We need to see longer body bearish candle and haDelta firm dip below zero line for bearish continuation.
- Lower resistance is ard 8,55. A break and close below opens space to minimum 8,4250 (my original bearish tgt), but likely to even lower
4H:
- Price is swinging around a thinned Kumo. Range is even more obvious here between 8,55-8,65. We have a medium strong Tenkan/Kijun bearish cross today, and Chikou Span is about to make a strong bearish cross below past Price candles too. (this would be a strong confirmation for more bearish move)
- What makes it more likely for bearish continuation is the change in DMI/ADX setup. ADX has been extremely low for some time now, but with today's price action finally the bearish DMI cross has more chance to widen further.
- Heikin Ashi setup is obviously more bearish now. For confirmation we should see next candle to close below 8,55. From then on every spike you can add to existing shorts.
- Ichimoku setup is bearish. Price below Kumo and Kijun Sen. For confirmation we need Price break a bit lower, sending Chikou Span into open space after its bearish break below the past Kumo.
- Heikin Ashi has been showing undecision for more than 2 weeks now. Green, red and doji candles changing each after. Today candle is bearish, with haDelta turning down again. We need to see longer body bearish candle and haDelta firm dip below zero line for bearish continuation.
- Lower resistance is ard 8,55. A break and close below opens space to minimum 8,4250 (my original bearish tgt), but likely to even lower
4H:
- Price is swinging around a thinned Kumo. Range is even more obvious here between 8,55-8,65. We have a medium strong Tenkan/Kijun bearish cross today, and Chikou Span is about to make a strong bearish cross below past Price candles too. (this would be a strong confirmation for more bearish move)
- What makes it more likely for bearish continuation is the change in DMI/ADX setup. ADX has been extremely low for some time now, but with today's price action finally the bearish DMI cross has more chance to widen further.
- Heikin Ashi setup is obviously more bearish now. For confirmation we should see next candle to close below 8,55. From then on every spike you can add to existing shorts.
