As I previously wrote on my Twitter, EURCAD finally completed the inverted H&S pattern on the daily time frame. Broke out of the Kumo and blew up. We can see some pause and pull back here.. maybe
Weekly:
- Ichimoku picture is turning to neutral from bearish: Price is still below the Kumo, but above Kijun Sen, and also around the future Senkou B (orange) level, which is the 52 weeks (!) average (equilibrium). Tenkan Sen and Senkou A started to point up
- Heikin Ashi signal was tricky a bit. last week the candle showed undecision, but this week turned clearly bullish, with quite a large candle body. Be cautious here! haDelta reached extreme high, while Price reached downtrend line and 52 weeks equilibrium. A pull back to 1,37 +/- is possible.
Daily:
- Ichimoku setup is bullish (both price and all important indicator lines are above Kumo) , with lower supports at 1,3600 and 1,3760.
- Heikin Ashi signal is bullish, but haDelta/SMA3 and the body of today candle suggest some pause in bullish momentum or a pull back is possible.
Those who are long may consider taking some profit here. Those who like swing trades may consider to look for more counter sell signals and enter some short with max 0,5 trade unit.
p.s.: frankly speaking I got stuck with some short EURCAD in my portfolio, as I had a small Short Call options from 5 weeks ago and that one was excersised against me right on the day when it blew above the Kumo. Market has a sense of humor :-)
As a position it should have been stopped already, but since it is not leveraged, what's more it is very tiny in my portfolio, I rather sold a Put option for that. Now I wait and see if it comes lower, and if it does, I will cut it all with next Heikin Ashi buy signal at supports.
Weekly:
- Ichimoku picture is turning to neutral from bearish: Price is still below the Kumo, but above Kijun Sen, and also around the future Senkou B (orange) level, which is the 52 weeks (!) average (equilibrium). Tenkan Sen and Senkou A started to point up
- Heikin Ashi signal was tricky a bit. last week the candle showed undecision, but this week turned clearly bullish, with quite a large candle body. Be cautious here! haDelta reached extreme high, while Price reached downtrend line and 52 weeks equilibrium. A pull back to 1,37 +/- is possible.
Daily:
- Ichimoku setup is bullish (both price and all important indicator lines are above Kumo) , with lower supports at 1,3600 and 1,3760.
- Heikin Ashi signal is bullish, but haDelta/SMA3 and the body of today candle suggest some pause in bullish momentum or a pull back is possible.
Those who are long may consider taking some profit here. Those who like swing trades may consider to look for more counter sell signals and enter some short with max 0,5 trade unit.
p.s.: frankly speaking I got stuck with some short EURCAD in my portfolio, as I had a small Short Call options from 5 weeks ago and that one was excersised against me right on the day when it blew above the Kumo. Market has a sense of humor :-)
As a position it should have been stopped already, but since it is not leveraged, what's more it is very tiny in my portfolio, I rather sold a Put option for that. Now I wait and see if it comes lower, and if it does, I will cut it all with next Heikin Ashi buy signal at supports.
