Let's see if catches momentum. Hold shorts, trail stops!If you read my Twitter posts, you saw I sold more EURNOK yesterday.
It looks like all bearish supports hold nicely, and finally it may get some momentum to hit first target around 9,00 +/- within next couple of weeks.
Weekly:
- Ichimoku is neutral (everything is locaed in spot Kumo cloud), with bearish bias ahead (bearish Kumo twist 26 weeks ahead is firming slowly)
- Increasing chance for validation of Head & Shoulders pattern, which would be very bearish, with possible target to 8,45 later.
- MACD is bearish, both lines are below zero
- EWO is bearish, maybe it will show some momentum gain soon.
- Heikin-Ashi may gove a weekly sell signal: haDelta/SMA3 bearish cross below zero.
Daily:
- Ichimoku has bearish setup with clear supports at 9,32-9,36 range. Averages all point down. Actually the 9,32+ support held very nicely last week.
- Heikin-Ashi sell signal was obvious from bearish support. Long doji candle with haDelt quantification gave the early warning for bearish continuation two days ago. Last two candles and haOscillator confirm. 9,15 local low is in focus now
Strategy: hold 1,5-2 unit shorts. Trail strategic stops to 9,39-9,41 from previous 9,45-9,47 area. We may lighten up position a bit around 9,00 if we get there.
