Daily: More signals suggesting a pull back starts. - Second Heikin Ashi candle, which shows hesitation and dropping bullish momentum - Price may finally break the wedge - MACD bearish, haDelta slowly dips further - Chance to revisit Kijun Sen ard 3480 is increasing. Bullish supports are: 3480 / 3290 (this is less likely to reach)
4H: - Price attacks Kijun Sen and trying to break the wedge - DMI bearish cross, haDelta and Oscillator goes more bearish - Careful with counter bearish position sizing, as Kumo is still thick below Price, and there is some support at 100 WMA + horizontal level ard 3545
Bulls' profit taking is likely to continue.
Please note, that SP500 is still better setup for holding swing short positions. But the bell is ringing here as well!
Comments
Kumowizard
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as there was no follow through at 100 WMA and Kumo, closed the swing shorts at flat P/L