Heikin-Ashi gave a clear local top signal
Weekly:
All indicators show a strategic bullish bullish picture, but haDelta suggests we may see some pause at 51-52 key resistance zone
Daily:
- Ichimoku setup is bullish with supports at: 48,50 and 47,10
- We have had a divergence warning signal by haOscillator indicator since 5/Oct, but short squeeze sent price even higher.
- Heikin-Ashi gave a clear signal yesterday for a local top. Today candle and haDelta confirms, we can expect more pull back.
- EWO also shows a wave top was in.
Strategy:
Reduce long position or cut it all. Since the basic trendfollowing setup is bullish on both time frames. I marked this post as "Short" to signal a possible wave down, but this doesn not mean I recommend taking a short position! Not at all! It is simply not a good risk/reward, and a bearish bet can distract focus from the major bullish setup.
For now I stay on sidelines, wait for a dip and will look for next bullish signal.
Note: I also closed all EURNOK short positions by now.
All indicators show a strategic bullish bullish picture, but haDelta suggests we may see some pause at 51-52 key resistance zone
Daily:
- Ichimoku setup is bullish with supports at: 48,50 and 47,10
- We have had a divergence warning signal by haOscillator indicator since 5/Oct, but short squeeze sent price even higher.
- Heikin-Ashi gave a clear signal yesterday for a local top. Today candle and haDelta confirms, we can expect more pull back.
- EWO also shows a wave top was in.
Strategy:
Reduce long position or cut it all. Since the basic trendfollowing setup is bullish on both time frames. I marked this post as "Short" to signal a possible wave down, but this doesn not mean I recommend taking a short position! Not at all! It is simply not a good risk/reward, and a bearish bet can distract focus from the major bullish setup.
For now I stay on sidelines, wait for a dip and will look for next bullish signal.
Note: I also closed all EURNOK short positions by now.
