Let me repeat what to watch, with looking at 4H time frame too:
- Daily Kijun Sen at 43,50, as lower supp/res. (Below 43 would be bearish again) - Daily tenkan Sen at 46. -> Bullish momentum would accelerate above 46 - 4H Kumo and flag... et voilla: 43 - 43,50 on lower side vs 46 on upper side. Power of multi time frames! - In case of bullish action Chikou Span would cross past candles -> weak bullish Chikou cross as confirmation - Daily haDelta/SMA3 -> will it cross back above zero line?
Original idea linked below.
Comments
Kumowizard
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If Oil closes above 44,90, then we will have a bullish Heikin Ashi candle today. Price above 45,90 would mean a bullish flag breakout.
hatimtai
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Hi nice analysis we have hit 46. any update?
Kumowizard
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Sorry for too late reply. When you asked it was a hold long strategy. It moved to 47,50. Now it is sufferring and situation is more uncertain. Trail your stop. I still believe bias will remain bullish until holds above 43, but it may stuck in 43 - 47 range for some more time.
MIchaelTran
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thank you for sharing, it's indeed moving upward
yeru
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Hi! What price level you would take short a position on EURHUF?
Kumowizard
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Pls ask me again about it in the EURHUF post, not to confuse others who'd like to follow only WTI. Come over there, I reply there. Thx,