Weekly:
- Ichimoku setup is neutral: price in Kumo, but above 100WMA and future Senkou lines (forward Kumo). Chikou Span is above past candles. Some resistance ard 1225, but in fact the major bearish trendline seems to be broken!
- Lower support now ard 1125-1140, marked by Senkou A and B lines (forward), Kijun Sen and also by the broken downtrend line.
- Whenever Price breaks above 1230-1250, that will trigger a clear bullishstrategic reversal with weekly tgt at 1400.
- Heikin-Ashi signal is bullish, but haDelta reaches extreme high lvl. Some consolidation is possible below resistance levels.
Daily:
- Bullish Ichimoku setup
- Price broke out of bearish channel.
- Heikin-Ashi is bullish with very strong momentum, but haDelta crosses below SMA3 after reaching an extreme high print. We will likely see some consolidation, or maybe a pull back here.
- Bullish supports: 1155 and 1135. I will look for buy signals ard support levels.
Strategy: HOLD LONGS! And try to add more if you see a pull back to supports!
Why to sell something which is trending? If you sell your long, will you be able to buy it back lower? Will it pull back a lot lower or will it only consolidate with sideaway move before it continues bullish? Why to short something which has such a strong momentum? Because it looks "Overbought"? What is the criteria of being Overbought??? In fact people got used to extremely low volatility in Gold during last 1-2 years. They can't immagine a sudden rip of 25 %. Is that impossible? Sometimes things can also go UP vertically, not just collapse down....
- Ichimoku setup is neutral: price in Kumo, but above 100WMA and future Senkou lines (forward Kumo). Chikou Span is above past candles. Some resistance ard 1225, but in fact the major bearish trendline seems to be broken!
- Lower support now ard 1125-1140, marked by Senkou A and B lines (forward), Kijun Sen and also by the broken downtrend line.
- Whenever Price breaks above 1230-1250, that will trigger a clear bullishstrategic reversal with weekly tgt at 1400.
- Heikin-Ashi signal is bullish, but haDelta reaches extreme high lvl. Some consolidation is possible below resistance levels.
Daily:
- Bullish Ichimoku setup
- Price broke out of bearish channel.
- Heikin-Ashi is bullish with very strong momentum, but haDelta crosses below SMA3 after reaching an extreme high print. We will likely see some consolidation, or maybe a pull back here.
- Bullish supports: 1155 and 1135. I will look for buy signals ard support levels.
Strategy: HOLD LONGS! And try to add more if you see a pull back to supports!
Why to sell something which is trending? If you sell your long, will you be able to buy it back lower? Will it pull back a lot lower or will it only consolidate with sideaway move before it continues bullish? Why to short something which has such a strong momentum? Because it looks "Overbought"? What is the criteria of being Overbought??? In fact people got used to extremely low volatility in Gold during last 1-2 years. They can't immagine a sudden rip of 25 %. Is that impossible? Sometimes things can also go UP vertically, not just collapse down....
