More observation about the key level and Ichimoku components
In addition / update to my previous post (please see link below).
- Heikin-Ashi signal proved to be right. It is still bearish, but time to watch price action in comeing days as price is getting close 1175+ key supp/res., while haOscillator is down to extreme low, so change in momentum may hapen soon.
- Look at what happens on the forward Kumo! Senkou B came down to 1182. Which means that the 52 days average, the so called equilibrium level of the market is at 1182 now. What's more the value of Senkou B is slightly below of Senkou A, which makes a shy but interesting initial bullish Kumo twist!
- Let us also have a look 21-26 days back! We see here that within 5 days the lower past candle values will start to fall out of Kijun Sen's (26 days avg, red line) calculation! This means Kijun will slowly rise further. If I am right, within 7 trading days Kijun will be at/above 1182 too.
Maybe we should change our key level focus from 1175 +/- to rather 1182 +/-!
This doesn't mean you have to buy automatically at 1182. Just pay attention what happens with Heikin-Ashi price action and signal there! The bullish momentum reversal will be obvious in time!
Note: I also draw this bearish channel today, which matches perfectly on the lower side too. Seems reliable... worths to watch in the future if we look for a strategic bullish trend reversal.
- Heikin-Ashi signal proved to be right. It is still bearish, but time to watch price action in comeing days as price is getting close 1175+ key supp/res., while haOscillator is down to extreme low, so change in momentum may hapen soon.
- Look at what happens on the forward Kumo! Senkou B came down to 1182. Which means that the 52 days average, the so called equilibrium level of the market is at 1182 now. What's more the value of Senkou B is slightly below of Senkou A, which makes a shy but interesting initial bullish Kumo twist!
- Let us also have a look 21-26 days back! We see here that within 5 days the lower past candle values will start to fall out of Kijun Sen's (26 days avg, red line) calculation! This means Kijun will slowly rise further. If I am right, within 7 trading days Kijun will be at/above 1182 too.
Maybe we should change our key level focus from 1175 +/- to rather 1182 +/-!
This doesn't mean you have to buy automatically at 1182. Just pay attention what happens with Heikin-Ashi price action and signal there! The bullish momentum reversal will be obvious in time!
Note: I also draw this bearish channel today, which matches perfectly on the lower side too. Seems reliable... worths to watch in the future if we look for a strategic bullish trend reversal.
