This is one of the strongest and longest downtrend I have seen in my life, Price is down to levels not seen since 2008!
As you see there are minor or major pull backs within the big trend, and it looks one is starting now. I don't know how high it can shoot up, I only know it will depend a lot on USD weakness or stregth in short term.
- Still extremely setup. supports are at 12,55 (Kijun) and 13,75 (future Senkou B and )
- After price was dropping for 5 weeks, Heikin Ashi started to signal a possible local bottom, and start of consolidation.
- is with at 11,60-12,00
- Heikin Ashi signalled swing reversal and start of pull back.
Strategy is: 0,5 trade unit long for 11,60 initial tgt , stop loss trailed with daily SAR (10,38 right now.)