Kumowizard
Short

Careful with longs!Early signals of strong negative divergences

FX:USOIL   Crude Oil (WTI)
394 4 11
Daily:
- Bullish Ichimoku setup, but Price got too far above equilibrium (Kijun and Senkou B). It is even a bit far above Tenkan.
- haDelta already signals bearish divergence! HA candle may sugnal a possible pull back today.
- EWO hit extreme high, seems unable to get above, while Price moved even higher. This is also a negative divergence

4H:
- Ichimoku is bullish , but price could not make a higher high today, steeper trendline was penetrated and retested, but price is unable to get back above Tenkan.
- haDelta has developed a massive bearish divergnece
- Heikin-Ashi candle had its try, but looks like turning bearish again. Please not haDelta dips below zero!
- EWO: bullish , but negative divergnce.

Supports and possible retracement targtes: 44 is easy to reach. Below that we have 43+ and most importantly 41-42 zone as stronger supp/res (in line with daily).

Market will likely remain bullish , we can start looking at buy signals ard 41-42 support, but now a pull back has high probablity!
Kumowizard PRO
7 months ago
If you do trade a counter trend swing short, you must not take larger than 0,5 unit size risk!

Initially this post is rather a call to close/reduce longs!

A proper short setup needs more time (minimum one more day, to develope and get validation.
Reply
DerekUweri71 Kumowizard
7 months ago
Hi Kumo, I was thinking the same thing & had a bullish bias but this has left me out of the good bearish moves over the last couple of days.
Reply
Kumowizard PRO DerekUweri71
7 months ago
Always follow your rules, and always make sure you know exactly your risk/reward when you have a trade setup! (should it be trend trade or counter trend swing trade)
Reply
DerekUweri71 Kumowizard
7 months ago
Absolutely! Thanks.
Reply
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