- has a bias, but despite the recent selloff, the averages (Kijun and Kumo) are still dlat, as the rally in May-June had same weight! This means mkt got oversold as Price is very far below equilibrium.
Maybe it sounds funny, but this market still has to be considered as a RANGE. The range is very wide, with 320 possible bottom, 375-380 equilibrium mid, and 425 top.
- Heikin-Ashi is still , but haDelta has been picking up from extreme low. Price made new lows towards 320 resistance, so this means some positive divergence. haDelta need to climb over zero to fade heavy price action .
- EWO is . is biased, but signal line is still above zero, and histogram seems to start bottom out. (very early and weak positive signal)
- setup is
- Price pattern makes a possible
- Heikin-Ashi gives early signal: haDelta is testing zero, it has built remarkable positive divergence. Candle may turn today, but first real key reversal level is 329!
- EWO is , but has been slowly building some too.
Strategy: Get ready to open 0,5 unit swing long. Initial tgt can be 350 +/-.
Note: I will show 4H later on Twitter from my firm trading system. 4H Kijun now is 326,25 and forward Kumo top (Senkou B) is 329.