- Ichimoku: Bullish - EWO, MACD: bullish - Heikin-Ashi: bullish, but as candle body shrinks, haDelta+ and haOscillator crossed down from their extreme highs -> possibly a local top and start of some consolidation or pull back - Support levels are: 5233 (Tenkan) / 5170 (Kijun) / appr. 5100 (Trendline) / 5040 (forward Senkou B)
As you probably realised, it is extremely difficult to question or fight such a strong momentum and trend. Again, no one should get very excited about a local top. It may consolidate, it may even pull back a bit (or even a bit more than last time), but the fact is we have plenty of bullish support below price. This market is still far away from bearish signals or bearish setup.
If you want to gamble, and you had a nice P/L so far this year, then you can try. I gamble in very small sometimes. Maybe I will also try some tiny swing short in NQ. But you must know your risk/reward, and the low probability of winning such a counter trend trade. If anyone opens short, should do in very small size, and with tigh stop loss. Don't forget the basic rules: market is not swing bearish, until price is above Kijun Sen and EWO is green, and until the 4H Ichimoku setup is bullish! Always trade according to your rules, and protect your capital.
Comments
IvanLabrie
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I agree, we could have a short term top, or intermediate term.