Daily: bear have some more problem here. DMI switching to . Chikou Span (price lagging line back 26 days) comp,etely lost open space and about to hit or maybe make a weak cross above price candles. Today cankde is a continuation pattern if closes minimum above Kijun Sen (of course the higher the close will be the more likely the price action will comtinue).
First tgt level is still around 1,2970-1,3000. With this kind of and in case a sudden bear capitukation we can reach that within 2-3 days. What's more, it really has some chance forma short term overshoot above 1,3050. Anyway, there I will close longs, as the Kumo is still far above Price and thick.
4 hrs: Previous candle retested the 1,2720 key support and Kijun Sen (closed above Kijun). Since then Price has been moving up. On this time frame the good strategy is buy on dips, until any reversal or signals. Chikou Span here is in open space, it has room to move higher. Stay long!
P.s.: some advise: do not play or think based on this BS hike - no hike, tape - delay taper stupid FED officials' game. Don't read the idiot news headlines! Not even when you see a sudden intraday move! It is not interesting what causes temporary moves, those news just make you confused from one minute to the other. Everything will be finally destilled in the charts, and the mkt will move the way of the smallest resistance. Just stick to your trading plan and strategy, and trail your stops up but in accordance of increasing . When ATR is so much higher, then you have to reduce your trade unit sizes and you should trail your stops slower.