Market is bullish, but extremely overbought!

FX:NAS100   NASDAQ 100 Index
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The Bullish "W"endetta pattern is perfectly comepleted... with the help of big talker Super Mario Draghi!!!!

- Extremely bullish Ichimoku setup, but price got too quickly too far above equilibrium level measured by Kijun Sen! -> Market overbought
- Heikin Ashi is bullish , but haDelta prints an extreme high! -> Market Overbought
- Price reached bullish channel top! This pace is impossible to maintain.

A pull back to 4460-4500 is necessary to happen. Bulls need to chill down.

- Ichimoku bullish . Key reversal support level is up to 4455-4460!
- Heikin Ashi started to signal bullish consolidation after huge candle and extreme haDelta high print. A pull back to Kijun Sen ard 4500 +/- is very possible to happen!

(I enterred 0,5 unit top hunting short!)

You can see now the poswer of Ichimoku and Heikin Ashi!

Please follow me on Twitter for more hints
Im a bit not too experienced with clouds. But would you say that price can't run away from the cloud for too long, too far? And if/once so, it was to come back to touch the cloud at least? Also what are the indicators of the turn back in this case
Exactly. This is one minor rule of Ichimoku system. If price gets too quickly too far above (below) equilibrium levels, so far away from Kijun Sen or Senkou B, at some point it has to pull back a bit, or at least show some sideaway consolidation. As time passes, the averages will slowly pick up too.
Only indicator I use is Heikin Ashi signals, so the filterred price itself (+ haDelta of course but thats part of the system). This shows in time if a consolidation or pull back starts. However the basic rule is to trade only in direction of Ichimoku with 1 or more than 1 volatility adjusted risk unit size -> this is trendfollowing. However I do swing trading too from time to time, but my rule there is trade maximum 0,5-1 risk unit size against the major time frame's trend.
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