ESTOXX50 - Long term bearish sideaway, short term floor here

FX:EUSTX50   Euro Stoxx 50 Index
49 0 0
Next one which behaved very well. Please see post and reco:

All the negative divergences stopped the bulls, and caused another wave of correction. Puts and outright shorts (if you sold on that spike or in the small breakdown) worked pretty well, but since these levels ard             3050 are still very supportive for short term, I suggest to close bearish positions for some time now. However going long I do not think is a good risk reward . Looking at daily chart: DMI bearish , MACD negative divergence still persist, Slow Stoch is down (still not oversold), but px             arrived to Kijun and close to long term trend and the Kumo. So it has some chance to pop up from here again, however the future Kumo and the position of the Chikou Span on the daily chart suggests it will still stay choppy with higher volatility , and move sideaway in a wide range for next few weeks. (might be good for daytraders, not so good for me as a trend trader).
Levels to watch: 3120 - 3150 for possible top again (Strong resistence), 3020 - 3050 for the floor (strong support). If it closes below 3000, then it will be an armageddon for the Bulls.
One more note here: As you see on 4 Hrs             chart Kumo and Kijun resistence now is ard             3100. One may ask why I did not recommend a short from there. Well Ichimoku is a trend following system, so in case it will really meet my expectation and moves sideaway, these levels will be easy to cross in both direction. What I recommend is to set your px             alerts at 3100-3110, and start looking at px             action and plan the strategy when we reach it.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out