Kumowizard

Sometimes things look obvious, but opposit happens

FX:EUSTX50   Euro Stoxx 50 index of European listed shares
56 0 5
That's why we have to use trailing stops!


Look at this 4H chart and pattern!

Obviously Ichimoku setup was bearish , price action showed consolidation with flat/slightly higher lows and lower highs --> absolutely looked like a bear flag .
And what happened? Market agressively spiked through the 100WMA into the thick Kumo.

Today's price action turns the whole picture rather bullish biased again, but I believe this move was a bit too fast.
4H Kumo top will likely block it for now. Also haDelta has reached an extreme high. The index faces daily Kijun resistance too at 3026.
Market will possibly chill down, but later we may see another leg up. If you wish to go long, wait for a pull back to 2970-2980.
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