Daily: - Ichimoku has some bullish bias, but market lacks momentum. Price should trade above Tenkan at 1,2480 for next bullish wave signal. - Heikin-Ashi shows consolidation, with lot of indecision. 1,2330-1,2350 seems to be a strong support. - EWO and MACD are also neutral. - Market may be building a bullish flag pattern. It would be confirmed only with a close above 1,2520. In that case measured target could point a lot higher above recent trading range top.
4H: - Ichimoku is neutral: price is back to Kumo (spot price is above Kijun). Thin Kumo ahead, all averages are flat at same level. - Heikin-Ashi price action still shows indecision. Price is stuck in a triangle, which has become extremely tight. - haDelta crossed up, haOscillator is above center line -> relatively strong price action in last 4 hours.
Strategy: Place a stop buy order at 1,2475. If triggered, stop loss at/below 1,2350, initial target 1,2715. Trade size: 1 risk unit