Down in the zone? Watch for a bearish break
Daily TF:
- Neutral Ichimoku setup with slight bearish bias ahead
- Heikin-Ashi is in a sell signal, confirmation needed with a close below 11.68
Weekly TF:
- Neutral Ichimoku, after meaningful lower highs printed since July 2024. Thinner forward cloud and flattening 100 weeks WMA shows long term volatility has been decreasing and downtrend in EWO/AO indicator shows fading bullish momentum for last 6 months.
Watch 11.66-11.68 key support zone. A break below opens space to 11.40 target.
Initial SL for starting positions should be set around 11.84-11.86, calculate your position size accordingly.
RR is medium for this trade now.
- Neutral Ichimoku setup with slight bearish bias ahead
- Heikin-Ashi is in a sell signal, confirmation needed with a close below 11.68
Weekly TF:
- Neutral Ichimoku, after meaningful lower highs printed since July 2024. Thinner forward cloud and flattening 100 weeks WMA shows long term volatility has been decreasing and downtrend in EWO/AO indicator shows fading bullish momentum for last 6 months.
Watch 11.66-11.68 key support zone. A break below opens space to 11.40 target.
Initial SL for starting positions should be set around 11.84-11.86, calculate your position size accordingly.
RR is medium for this trade now.
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