- ADX above 20 and a convergence of +/-DMI as price pulled back
- TSI and pulled back before weekly price continued up
Now, the question is if weekly price will continue up or begin to hit resistance. The first area I'm watching is 3.460 so a pullback now could be a place to enter a short term long position.
Another interesting aspect of the weekly chart is that the line (orange) put in by the of the Feb 16 low has been hit once and is now set to be broken by both the and the . If this happens and holds, my interpretation will be that a major trend shift is in play and will need to set plan accordingly.
Daily chart looks strong but may be pulling back. Things I'll be watching for this week is for +/-DMI to converge along with a pullback of price into the averages and a pullback of TSI and into 50-60 range.
8H/4H charts watching to see if there is a repeat pattern of a pullback including price and indicators. If this pattern occurs, may be the place to buy dec NG call.
1H looks like pullback has begun and may carry through to 8H/4H charts.