- Rounded top formed in 2015
- Major uptrend broken and retested in 2015, followed by valid Kumo breakout in 2016.
- A wide is being formed
- is , but Kumo is extremely thin above price. Equilibrium is ard 1974 -> Kijun and forward Senkou B
- Price popped from a ver important supp/res at 1810 -> Heikin-Ashi is counter now
- EWO is but we experience a reaction wave
Optimal sell level would be 1970-1990 area.
It can be really below 1810. In that case I think tgt can be 1650 minimum, but 1450 is also possible.
- This setup is something hard to deal with. is neutral, with a thick Kumo shading candles ahead, and with weak Tenkan/Kijun cross below price and Kumo -> this makes 1880-1890 a short term support.
On the top side Kumo and 100WMA limits bulls ard 1960
- Heikin-Ashi shows undecision and slight bias. A dip to 1880-1900 is possible, but we don't know if it really happens.
- EWO at zero -> neutral. Probably after 1-5 waves we see and A-B-C pattern now. If that comes true, then pattern shd be like down tow. 1890 followed by up to 1960+
I don't really have a strong view here. I would be a seller, but prefer selling higher. Daily setup clearly doesn't provide a good risk/reward short entry now. It may dip, or it may spike... We need Kijun Sen and Price getting closer to each other again.
Super Mario will be on stage in 2 weeks. End of month coming. Let's hope perma bulls rip it even higher.