- Price is in a range 1188 - 1210, and also trades within a tightenning triangle. setup is neutral: price is swinging around Kumo, Chikou Span is at past candles, all average lines stay together determining a short term equilibrium price of appr. 1201.
- DMI/ADX has no signal. Market is not trending short term.
- Heikin Ashi signal has some bias now, but candles are changing too often. Picture is neutral
- levels to watch: upper side is 1210 / lower side is 1188.
It will be a firm buy above 1210 or a sell below 1188. Based on my yesterday analyses, I still have a feeling that the bias is a little bit stronger and may end in an upside break. Anyhow, before the break happens, do not take too big bets!
But as I wrote in the original post, and as you see it well too, at 1220 there is another resistance. Above that the "initial target" can be ard 1300.
I'm kind of thinking it will drop at least once more, which hopefully will give a good entry. I'm taking the minor "false upsides" as it just being a bit 'itchy'.