- Ichimoku setup is bearish, as Price managed to climb back to Kumo, after testing very important long term horizontal key resistance at 12,55+. Now Price is located between Tenkan and Kijun lines (above Kijun), while Tenkna/Kijun is in weak bullish cross.
- Heikin-Ashi turned bearish after test of Kumo and 100wma.
- EWO is bullish. MACD is neutral
- Upper key level for this market is clearly 14,55.
What do we have to watch now? As EWO is in bullish territory and Price is above Kijun Sen, we have to see what Sugar will do if it drops to Kijun, which is the short term lower key level now at 13,59.
If we see a possible momentum reversal or a clear buy signal there, then we can enter maximum 1 risk unit long position. Bigger size long only above 14,55.
Remember! You do not buy automatically at Kijun, as market may wash through it to the downside. Just because Price is above it now, it doesn't necessarely mean it will stay above it. You buy only, when there is a bullish signal at the *possible* support.
- Heikin-Ashi turned bearish after test of Kumo and 100wma.
- EWO is bullish. MACD is neutral
- Upper key level for this market is clearly 14,55.
What do we have to watch now? As EWO is in bullish territory and Price is above Kijun Sen, we have to see what Sugar will do if it drops to Kijun, which is the short term lower key level now at 13,59.
If we see a possible momentum reversal or a clear buy signal there, then we can enter maximum 1 risk unit long position. Bigger size long only above 14,55.
Remember! You do not buy automatically at Kijun, as market may wash through it to the downside. Just because Price is above it now, it doesn't necessarely mean it will stay above it. You buy only, when there is a bullish signal at the *possible* support.