- This is the 14th week with no trend! Price is stuck in a 2,5 %+ wide range between 9,20 - 9,42
- setup is absolutely neutral, Price is almot in the cloud and trades ard 9,35 equilibrium level (52 weeks average!). Tenkan is below Kijun, both lines are flat and about to enter the Kumo, future Kumo is flat too (basically Senkou A and B are at same level). Chikou Span hits past candles.
- Heikin Ashi signal is neutral, it is a row of candles with both long upper and lower wicks and small bodies. The small candle bodies changing colour too often, and haDelta/SMA3 doesn't have any indication about possible direction either, as it is stuck close to zero line.
This is the perfect Neutral setup, the worst for trend traders, and the best place for range players... until it breaks out on any side of the range.
- setup is neutral, price has been swinging around the Kumo and Kijun Sen. Tenkan/Kijun gives a lot of late and unreliable signals. This is a perfect example to show you how a real trend following system doesn't work when the instrument is not trending. For example that's one reason why I like to add Heikin Ashi as a filter. That works in mini ranges too quite properly.
- Heikin Ashi candle today shows some undecision, haDelta/SMA3 is trying to cross up again and move above zero line. Since we have both Tenkan, Kijun and the Kumo below Price as , with this Heikin Ashi signal we can assume a move from the 9,35 equilibrium is more likely, at least in short term.
Really breakout would happen with a close above 9,45.
p.s.: I opened small long (0,5 trade unit) today morning. Stop is below 9,2850. On a break and close above 9,45 I'd increase the position if new develops.