Nice run, but consolidation comes. Cover shorts, resell higher
Please track back this trade idea! This was my best trade in 2016! Held and built position for more than 6 months.
Weekly:
- Ichimoku is turning bearish, but price reached long term trendline support.
- Heikin-Ashi has been nice bearish for weeks with strong momentum, but haDelta reached an extreme low. Consolidation is possible at first resistance, especially that price is also bit fr below Kijun now.
- EWO is bearish, but reached extreme low.
Daily:
- Bearish Ichimoku setup with supports at 9,13 and 9,20+.
- Heikin-Ashi signals start of consolidation/pull back.
- EWO is bearish, but we'll see either a small wave up, or some sideaway.
- Cover shorts for now, try to resell in 9,11 - 9,14 zone (in case of a sell signal)
Weekly:
- Ichimoku is turning bearish, but price reached long term trendline support.
- Heikin-Ashi has been nice bearish for weeks with strong momentum, but haDelta reached an extreme low. Consolidation is possible at first resistance, especially that price is also bit fr below Kijun now.
- EWO is bearish, but reached extreme low.
Daily:
- Bearish Ichimoku setup with supports at 9,13 and 9,20+.
- Heikin-Ashi signals start of consolidation/pull back.
- EWO is bearish, but we'll see either a small wave up, or some sideaway.
- Cover shorts for now, try to resell in 9,11 - 9,14 zone (in case of a sell signal)
