Daily trend line holding well,
We'll be looking for a long, price has now closed above tenkan-sen (orange line) and our kijun-sen (blue line) is flat. Expecting an upward correction now. I'm long in this.
Prices have finally moved out of the cloud and consolidated below the stubborn uptrend
Now we have prices below the Kijun-sen and Tenkan-sen on the daily, with a crossover in the kumo cloud on its way.
With the AO in the negative territory, this short trade could turn out perfect.
Our target will be the 61.8% ...
We have many reasons to get into the short position here
1) 4hour trend continuation, going with the trend is always less risky as to opposing it
2) 78.6% fib resistance level from previous swing high to low
3) Heads and Shoulders structure formed, Double Top too
4) Divergence Spotted in the AO
5) AO getting into ...
Here we have a nice set up on the daily TF.
Hawkish FOMC should fuel speculations of a rate hike in June.
Remember to leave your comments and give a thumbs up if you agree and like my idea!
Thanks and goodluck everyone
Prices are bouncing off nicely at the 78.6% retracement.
We're inside the cloud now, do not enter until it breaks.
The AO is finally turning positive and the kumo cloud is turning green.
All these are good signs, but again, wait for the break and enter.
This could be the long we've been searching for!