- setup. Chikou Span is also above past Kumo, but when it "breaks" such a thick cloud with downward slope Senkou B (past), usually price retraces one more.
- Hekin-Ashi candle and haDelta/SMA3 cross gave a precise warning last friday for a possible local top and start of pull back. Today candle and dipping haDelta so far confirms my anticipation.
- EWO tops, will decrease, but it will remain for longer.
- Supports and retracement targets are: 9990-10100 area and 9800 as stronger support. I think expecting a 10000+ retest is more reasonable than a fall to 9800.
- Don't get over excited. It is a counter trend short opportunity, but the major structure will likely remain , so ard 9800-10000 we'll have to look for buy signals.
- Structure is , withsupports at 10200 and 10000 +/-. In case selling quickly accelerates by some reason, then even 9800-9900 is possible to reach.
- Heikin-Ashi helped us here too! Last week it was obvious that after haDelta made an extreme high, price deterioration started and haDeta built negative divergence. haDelta/SMA3 then dropped below zero, while price was still reluctant to follow. Today we have a confirming candle, with stronger momentum, which pushed haDelta firmly below zero.
Suggestion: Hold 0,5 unit counter short position, with strict trailing stop on it.
Suggestion 2: Follow me on Twitter too, where I often give trade ideas earlier, and sometimes more often, than here on Tradingview