- setup is , but as price could not make a higher high so far this year (since the March top above 290), Chikou Span got very close to past candles. Tenkan and Kijun stay very close to each other and both lines are flat, which show averages have converged, and the momentum has been lost. In fact it has become a wide range, with top side area at 285-290, and with lower supports at 279 (Kijun Sen), 268 and 260.
- Heikin Ashi signal also warns us for decreasing buying power: we had three small body candles ard Kijun Sen, the last one has boths upper and lower wicks and its body is red. haDelta has built a firm negative divergence,and actually it is trying to dip below zero line.
Long term trend followers, who bough the Kumo breakout ard 225 and has never sold on any swings would place their ultimate TP trailing stop at Kijun Sen minus some buffer, so somewhere ard 276-277.
- setup is neutral, with weak Tenkan/Kijun cross, Kumo overshade and Chikou at past candles.
Look at the long term line! It is very close to price, and also stays in line with Kumo and 100 .
It makes clearly 276-277 extremely important.
- Heikin Ashi is biased again, but if Price can't climb back above Kijun Sen (284), then it can quiickly change, as in that case haDelta negative divergence will persist.
I don't know if it will break now, but it has some increasing chance, so better to pay attention.
Short below 277!