When I mark this post as "SHORT", it doesn't mean to rush and sell now! It simply means we are in a confirmed bear market, which will be very volatile, and may provide some better short entries on bear market rallies.
Weekly:
- Bearish Ichimoku setup. Optimal sell area is ard Tenkan and Kijun: 2293 - 3093 zone.
- Heikin-Ashi calls for caution. Candle is still bearish, but haDelta could not make a lower low. Better sell opportunity would be at time, when haDelta gets closer to zero.
- EWO is bearish, it's lower level shows we'll soon have the low of 3rd Wave. That could be followed by few weeks of pull back, before the 5th wave hits mkt to a new lower low.
Daily:
- Wide bearish trend channel. Price made 5 waves from channel top to possible channel bottom between Dec/2015 and Feb/2016.
- Ichimoku is bearish, with important supp/res lvls at 2900 and 3090.
- Heikin-Ashi is in a counter bullish mode, but orice is still below Kijun Sen
- EWO reached an extreme low. Market is bearish, but there's good chance it has completed the 5th wave.
Bottom fishing on a bear market may work sometimes, but can be very dangerous if you dontt have a proper position sizing and tight stop loss.
For some more time this market will remain bearish. Of course bear markets have counter bullish waves too, which provide good sell opportunities. When you are uncertain, it is better to stay away, and wait for a better risk/reward entry point.
Weekly:
- Bearish Ichimoku setup. Optimal sell area is ard Tenkan and Kijun: 2293 - 3093 zone.
- Heikin-Ashi calls for caution. Candle is still bearish, but haDelta could not make a lower low. Better sell opportunity would be at time, when haDelta gets closer to zero.
- EWO is bearish, it's lower level shows we'll soon have the low of 3rd Wave. That could be followed by few weeks of pull back, before the 5th wave hits mkt to a new lower low.
Daily:
- Wide bearish trend channel. Price made 5 waves from channel top to possible channel bottom between Dec/2015 and Feb/2016.
- Ichimoku is bearish, with important supp/res lvls at 2900 and 3090.
- Heikin-Ashi is in a counter bullish mode, but orice is still below Kijun Sen
- EWO reached an extreme low. Market is bearish, but there's good chance it has completed the 5th wave.
Bottom fishing on a bear market may work sometimes, but can be very dangerous if you dontt have a proper position sizing and tight stop loss.
For some more time this market will remain bearish. Of course bear markets have counter bullish waves too, which provide good sell opportunities. When you are uncertain, it is better to stay away, and wait for a better risk/reward entry point.
