- setup is until price is below Kijun. Trend is still .
- Long term strategic key levels for Bulls: 480 (Kijun), 495 (100wma) and 520-525 ( and Kumo). This levels are close to each other and as we saw 5 weeks ago, market can move really quickly up to 520.
- Heikin-Ashi signals have been mixed. haDelta zig-zaf around zero. attempt failed a month ago, but we neither have a follow through. Bottom building? Maybe.
- I know, price is below Kumo, but this Kumo is thin, and we see very agressive price action around it. setup I'd say is neutral, sometimes with sometimes with bias. A typical example how alone can not be used on ranging markets! Of course not, as it is designed to be a trendfollowing system.
- This market is not trending. It is wild and choppy in a wider range. but at least the key levels are visible: 485 (Kijun and mid if range) and 520 as top of range. In fact if price could move back and stay above 490, that could be finally a start of a real breakout.
- EWO is around zero. Neutral
- Heikin-Ashi signal calls for a 0,5-1 unit swing buy.
Strategy: Enter 0,5-1 adjusted trade unit long. Size up above 472 and triple up above 486. Trailing stop with initial level of 456.