Weekly: - Ichimoku is bearish - Heikin-Ashi swing bullish this week. Price retraced to first key support at 1,1125-40. haDelta and DM_Oscillator are both below zero - EWO is bearish - MACD has bearish bias
Daily: - Ichimoku setup is back to more neutral as price spiked above Kijun Sen and reached 100wma and forward Senkou B levels. - Heikin-Ashi momentum warning! -> while the candle body is still green, haDelta and DMO already suggest increasing chance for a local top around 1,11+ key supp/res. haDelta also reached extreme high print. The pull back may be over for now. - EWO is back to zero -> neutral
I think we'll see a consolidation around 1,11 or maybe a turn down again. Should price break back below daily Kijun (1,1050), Bears will get back in control once more.
Strategy: Exit all longs. Get ready to short entry, or sell already 0,3-0,5 unit, and size it up on further confirming signals by daily and 4H time frames
Comments
CaliforniaTrader
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With all these bearish indicators it almost makes sense to go long. ;)
Thanks for the strategy, Kumo... it adds additional color. Very helpful.
Kumowizard
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It will make sense to go long only in one case: if Trump wins! That would be most bearish for the USD. In that case USD is a sell on all crosses, without thinking about entry prices.
Thanks for the strategy, Kumo... it adds additional color. Very helpful.