A trend is a trend, and simple bottomfishing doesn't pay!
You have to know when to enter a counter trend trade. You have to know your risk/reward.
Daily:
- Bearish trend, bearish Ichimoku. Volatility is smashed.
- Heikin-Ashi candle may signal a local bottom, haDelta+ crossed up.
- Bearish supp/res levels are: 20,40 (Tenkan) is at 22,38 (Kijun Sen)
- EWO and MACD are bearish.
4H:
- Bearish Ichimoku
- Consolidation in Heikin-Ashi
- Bearish EWO
- The minimum requirements for a counter trend swing long are: close above Kijun (red line), make a higher low even if retest lower on next leg, EWO has to turn green to confirm higher probability of success.
All other attempts until the above criteria are just gambling with low probability of winning the trade.
- 4H supp/res levels: 20,03 Tenkan / 20,74 Kijun / 22,38 Senkou A (this equals to daily Kijun)
You have to know when to enter a counter trend trade. You have to know your risk/reward.
Daily:
- Bearish trend, bearish Ichimoku. Volatility is smashed.
- Heikin-Ashi candle may signal a local bottom, haDelta+ crossed up.
- Bearish supp/res levels are: 20,40 (Tenkan) is at 22,38 (Kijun Sen)
- EWO and MACD are bearish.
4H:
- Bearish Ichimoku
- Consolidation in Heikin-Ashi
- Bearish EWO
- The minimum requirements for a counter trend swing long are: close above Kijun (red line), make a higher low even if retest lower on next leg, EWO has to turn green to confirm higher probability of success.
All other attempts until the above criteria are just gambling with low probability of winning the trade.
- 4H supp/res levels: 20,03 Tenkan / 20,74 Kijun / 22,38 Senkou A (this equals to daily Kijun)
