Careful with longs! Risk/reward warning signals on two timeframe
Weekly:
- Pull back to Kijun Sen was almost completed this week, but weekly Ichimoku remains bearish.
- Heikin-Ashi: 4 green candles in a row, but watch out for haDelta, which crossed below its 3 weeks SMA, and haOscillator also reached its top. -> swing bullish momentum may decrease again in next weeks.
- EWO is still bearish.
- MACD signals bearish consolidation.
If market can't continue straight higher, bulls will lose their confidence and position square may even send the price back to around 1,06.
Daily:
- Neutral Ichimoku with bullish bias ahead. Spot Kumo is very thick, and Chikou Span vs past Kumo also shows some resistance ahead.
- Major bearish trendline is not far away.
- Heikin-Ashi signals indecision at the cloud top! Long wicked doji candle with lower high and lower low today. haDelta crossed below SMA3. haOscillator also crossed down and has negative divergence.
- EWO is bullish, but ticked lower today.
- MACD also has a possibly important signal: lines are above zero (bullishbias) but they converge quickly -> see how histogram value decreases!
Market can stay choppy in the cloud for next week. Real value level to look for a buy signal is not here, rather around 1,0600 - 1,0650 (Kijun and Senkou B supports), or maybe at 1,0675 (100wma)
- Pull back to Kijun Sen was almost completed this week, but weekly Ichimoku remains bearish.
- Heikin-Ashi: 4 green candles in a row, but watch out for haDelta, which crossed below its 3 weeks SMA, and haOscillator also reached its top. -> swing bullish momentum may decrease again in next weeks.
- EWO is still bearish.
- MACD signals bearish consolidation.
If market can't continue straight higher, bulls will lose their confidence and position square may even send the price back to around 1,06.
Daily:
- Neutral Ichimoku with bullish bias ahead. Spot Kumo is very thick, and Chikou Span vs past Kumo also shows some resistance ahead.
- Major bearish trendline is not far away.
- Heikin-Ashi signals indecision at the cloud top! Long wicked doji candle with lower high and lower low today. haDelta crossed below SMA3. haOscillator also crossed down and has negative divergence.
- EWO is bullish, but ticked lower today.
- MACD also has a possibly important signal: lines are above zero (bullishbias) but they converge quickly -> see how histogram value decreases!
Market can stay choppy in the cloud for next week. Real value level to look for a buy signal is not here, rather around 1,0600 - 1,0650 (Kijun and Senkou B supports), or maybe at 1,0675 (100wma)
