The situation on daily chart is becoming more interesting
from an Ichimoku viewpoint. On wednesday there was a
weak Bullish Kijou Sen Cross signal (Price closed above
the Kijou Sen l(white line)). Since trend is Bearish we are
looking for a Strong Bearish signal. If price proceeds higher
and a Tenkan Sen/Kijou Sen cross signal is created (Red
line close above the white line) we will then wait for a bearish
Tenkan Sen/Kijou Sen cross to have a Strong sell signal .
If price close below the Kijou Sen (White line) a Strong
Kijou Sen Cross Signal is created, which in itself can be
traded, still I prefer a Tenkan Sen/Kijou Sen signal.
Else, the Bear flag can be used to enter short with a daily
break below the lower trendline as confirmation.
from an Ichimoku viewpoint. On wednesday there was a
weak Bullish Kijou Sen Cross signal (Price closed above
the Kijou Sen l(white line)). Since trend is Bearish we are
looking for a Strong Bearish signal. If price proceeds higher
and a Tenkan Sen/Kijou Sen cross signal is created (Red
line close above the white line) we will then wait for a bearish
Tenkan Sen/Kijou Sen cross to have a Strong sell signal .
If price close below the Kijou Sen (White line) a Strong
Kijou Sen Cross Signal is created, which in itself can be
traded, still I prefer a Tenkan Sen/Kijou Sen signal.
Else, the Bear flag can be used to enter short with a daily
break below the lower trendline as confirmation.