Kumowizard
Short

EURTRY - Time to pull the trigger?

FX:EURTRY   Euro Fx/Turkish New Lira
25 0 0
We have not enterred short yet based on the previous trade setup idea - pls             see link below.

Daily: Seems the Kumo and the top of the slightly decreasing trend channel stops the ongoing bullish bias, and the cross may turn down again from the range top. MACD histogramm decreasing, Slow Stoch turning down. Price itself is exactly at the equilibrium, testing Senkou A line and Tenkan Sen. We need a close below 2,8660

4 Hrs: The current 4 Hrs candle is a big question now. It may break the short term trendline , and defenately looks like a close is possible below Kijun Sen. However we still have the 100 WMA and a thick Kumo below Price.
DMI             is neutral, with a really low ADX . If it turns bearish and ADX moves above 20 again, that will confirm the reversal.

As this pair is a really volatile and quickly moving one, maybe we should not wait too much, but pull the trigger and sell 0,5 trade unit now if the last 4 Hrs candle closes below the trendline . Stop at 2,8565

If someone is mnore conservative, then should wait for a break of 2,8555 Key resistance.

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