Kumowizard
Long

European stocks are turning bullish - ABC pattern?

FX:EUSTX50   Euro Stoxx 50 index of European listed shares
102 0 7
Weekly:
- Trend and Ichimoku setup is bearish . Key levels: 3100 / 3200-3250
- Heikin-Ashi candle and haDelta/SMA3 suggests a bullish price reversal is happening now
- EWO is bearish but value is less negative (ticking higher)

Daily:
- Ichimoku setup is turning bullish from neutral. Price made a decent dip in the Kumo, but could not deliver a bearish break. In case it clears Kijun and Kumo on the top side, buying will accelerate further.
- Market probably completed 5 bearish Elliott waves , and now we are in the A-B-C pattern phase, with third wave from B to C. Possible tgt             is 3200-3250.
- Heikin-Ashi is bullish with increasing momentum! A close above 3000 will be a confirmation.
- EWO is ticking up to zero (neutral)

Strategy: Try to buy dips. Also Long Stoxx50 vs Short SP500             rel value trade can be a good risk reward. For sure it is not a good idea to short this mkt!

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