Weekly:
- Ichimoku is turning to neutral. Bit of similar picture like back in April-May/2015: weak bearish Tenkan/Kijun cross, price below Kijun, Kumo shades price, but 100wma and forward Senkou B line (52 weeks average) is holding market well so far at 161,50+. Not a surprise. Kust because FED may hike once, ECB is not going to U-Turn any time soon. I believe they will start to talk about tapering QE and maybe will even do tapering next year, but even if it's gonna be so. we have few months until.
- Heikin-Ashi signals consolidation, a possible local bottom at strong supp/res of 161,50: candle body shrinks, haDelta and DMO crosses up and build positive divergence further. I can immagine a retest to 164-164,90 in coming weeks.
- In case market retests to Kijun (164,90), that would draw our attention to an interesting pattern: a possible major Head and Shoulders! A turn down from 164,90 could be the the first strategic bearish signal, beginning of a real storm in Bund.
- EWO is slightly bearish, MACD signals consolidation (not bearish until above zero)
Daily:
- Ichimoku setup is still bearish, with trend supports at 163,60 and 164,90 (this value is in line with weekly Kijun!)
- Heikin-Ashi pattern shows consolidation: mixed candles with haDelta stuck at zero.
- EWO is bearish
What kind of position we have to take on this market is very obvious: we have to look for shorts. However we have to be very smart how we pick timing and entry levels. I have some doubt this market will really continue selloff straight down from here, so right now it is not the best risk/reward to enter short in big.
We have to be patient, and look for the BIG trade entry.
- Ichimoku is turning to neutral. Bit of similar picture like back in April-May/2015: weak bearish Tenkan/Kijun cross, price below Kijun, Kumo shades price, but 100wma and forward Senkou B line (52 weeks average) is holding market well so far at 161,50+. Not a surprise. Kust because FED may hike once, ECB is not going to U-Turn any time soon. I believe they will start to talk about tapering QE and maybe will even do tapering next year, but even if it's gonna be so. we have few months until.
- Heikin-Ashi signals consolidation, a possible local bottom at strong supp/res of 161,50: candle body shrinks, haDelta and DMO crosses up and build positive divergence further. I can immagine a retest to 164-164,90 in coming weeks.
- In case market retests to Kijun (164,90), that would draw our attention to an interesting pattern: a possible major Head and Shoulders! A turn down from 164,90 could be the the first strategic bearish signal, beginning of a real storm in Bund.
- EWO is slightly bearish, MACD signals consolidation (not bearish until above zero)
Daily:
- Ichimoku setup is still bearish, with trend supports at 163,60 and 164,90 (this value is in line with weekly Kijun!)
- Heikin-Ashi pattern shows consolidation: mixed candles with haDelta stuck at zero.
- EWO is bearish
What kind of position we have to take on this market is very obvious: we have to look for shorts. However we have to be very smart how we pick timing and entry levels. I have some doubt this market will really continue selloff straight down from here, so right now it is not the best risk/reward to enter short in big.
We have to be patient, and look for the BIG trade entry.
