I was expecting some correction towards 1,3500 before next bearish dip. I played in small, I lost a small. It was not more than a sideaway consolidation, Price couldn't stay above the 4 Hrs Kumo, and couldn't extend even a minor correction. Should we be surprised? No. The higher time frame trend is strong and obvious. That's why I always recommend to play counter trend (swing) trades only in smaller sizes and with tighter stops.
Lets' check how important levels are changing now, and what can we expect.
Daily: Ichimoku setup is perfectly bearish, and now Chikou Span has a great open space ahead. This trend can not turn around any time soon. There might be pull backs of course and also the relatively low volatility can pick up, but we can not really expect a trend reveral here. So the basic strategy is always looking for sell opportunities on pull backs, and stay with the developing trend.
ADX started to climb again, DMI lines are widenning. MACD turned back bearish.
Supports: 1,3330 as fist (Daily Tenkan Sen and 4 Hrs Kijun Sen), but most importantly 1,3400 has become a very important Support now! Daily Kijun Sen is there now.
All Ichimoku components are pointing down: Tenkan, Kijun, Senkou A and B (Future Kumo lines)
4 Hrs: Getting a bit oversold, we may see some correction, but clearly bearish here too. 1,3300 - 1,3340 is a sell zone.
Strategy: If you have shorts fine, just hold it. If you have not re-enterred shorts yet, catch any spike to ard 1,3300 look for sell signals there.
Any Long is dangerous to your nerves and to your account! It can work of course for few pips for daytraders, but at moment not recommended for trend traders or swing traders.
Lets' check how important levels are changing now, and what can we expect.
Daily: Ichimoku setup is perfectly bearish, and now Chikou Span has a great open space ahead. This trend can not turn around any time soon. There might be pull backs of course and also the relatively low volatility can pick up, but we can not really expect a trend reveral here. So the basic strategy is always looking for sell opportunities on pull backs, and stay with the developing trend.
ADX started to climb again, DMI lines are widenning. MACD turned back bearish.
Supports: 1,3330 as fist (Daily Tenkan Sen and 4 Hrs Kijun Sen), but most importantly 1,3400 has become a very important Support now! Daily Kijun Sen is there now.
All Ichimoku components are pointing down: Tenkan, Kijun, Senkou A and B (Future Kumo lines)
4 Hrs: Getting a bit oversold, we may see some correction, but clearly bearish here too. 1,3300 - 1,3340 is a sell zone.
Strategy: If you have shorts fine, just hold it. If you have not re-enterred shorts yet, catch any spike to ard 1,3300 look for sell signals there.
Any Long is dangerous to your nerves and to your account! It can work of course for few pips for daytraders, but at moment not recommended for trend traders or swing traders.