Daily:
- Rising wedge is broken
- Heikin Ashi setup turns bearish: yesterday long wicked doji, followed by massive red candle today. haDelta/SMA3 further down below zero line. Oscillator turns bearish
- MACD sell signal is firm now
- First daily support is at 3600 Kijun Sen (almost reached today). A break below needed to see more correction to next support level which is ard 3500. The real strong bullish support is 3400.
4H:
- Price reached first important support at Kumo bottom and horizontal line. I think this should hold short term as Price is a bit oversold. But any spike will be a sell opportunity, as the bullish Ichimoku setup is falling apart: Chikou below Price (still above past Kumo), weak bearish Tenkan/Kijun cross. 3650-3700 will act as resistance o upside from now.
- DMI switches to bearish, but ADX has not yet started to increase. It will when we see a bearish Kumo break below 3620.
- Heikin Ashisetup is absolutely bearish, btu ha/delta reached an extreme low: this means short term mkt is a bit oversold. Try to wait for a pull back first and sell higher. Sell more on the next dip when Price breaks the Kumo.
I don't think we'll see a trend reversal. (not until Price stays above 3400), but we'll have a healthy correction to 3500 +/-.There we will have to look for buy signals again and close counter shorts, and maybe enter longs again. But for now the strategy is close longs on spikes and enter counter short position.
- Rising wedge is broken
- Heikin Ashi setup turns bearish: yesterday long wicked doji, followed by massive red candle today. haDelta/SMA3 further down below zero line. Oscillator turns bearish
- MACD sell signal is firm now
- First daily support is at 3600 Kijun Sen (almost reached today). A break below needed to see more correction to next support level which is ard 3500. The real strong bullish support is 3400.
4H:
- Price reached first important support at Kumo bottom and horizontal line. I think this should hold short term as Price is a bit oversold. But any spike will be a sell opportunity, as the bullish Ichimoku setup is falling apart: Chikou below Price (still above past Kumo), weak bearish Tenkan/Kijun cross. 3650-3700 will act as resistance o upside from now.
- DMI switches to bearish, but ADX has not yet started to increase. It will when we see a bearish Kumo break below 3620.
- Heikin Ashisetup is absolutely bearish, btu ha/delta reached an extreme low: this means short term mkt is a bit oversold. Try to wait for a pull back first and sell higher. Sell more on the next dip when Price breaks the Kumo.
I don't think we'll see a trend reversal. (not until Price stays above 3400), but we'll have a healthy correction to 3500 +/-.There we will have to look for buy signals again and close counter shorts, and maybe enter longs again. But for now the strategy is close longs on spikes and enter counter short position.
