When Ichimoku Kumo (Cloud) is thick and is uptrend, it in theory may post as good support for a retracing price. This is the case for NQ on 11/9/16. What we see today strong uptrend of NQ after retracement, from 21/9-23/9, seems like a bull, but dont forget 9/9-10/9, market seems to be falling off the cliff. I would thought its the start of downfall of NQ, but I was wrong. The clue provided was VSA, Harmonic, Kumo, BB supports during this seemingly downfall days.
Thus do not underestimate a thick Kumo.
7.45pm is the strength crossover. Price cont to drop n didn’t reverse.
When day strength is NZD >USD, and hour strength is NZD < USD, we can expect near term drop, in 15min chart, esp when the strength lines cross over.
AU Short @ 0.7730. TP @ 0.770.
GU short @ 1.335. TP !@1.330
8.30am, Gold +0.4%, UJ, UC -0.2%, short UJ @ 103.50. TP1 @ 103.20, TP2 @ 102.50.
15min chart shows harmonic short signal to support this trade.
Notice I ignore the harmonic long signal, because the Daily channel is downtrend.
Daily chart shows price is at channel top, for a downtrend channel, thats the best position to make a short trade.
BB +3SD –> Short EURUSD
Short EU @ 1.12
TP1 @ 1.1160. NP = 40 pips.
With USD going up, its either Long UJ or short EU. For direction. For entry timing, use technicals.
Correlation shows GU down, NU not down yet. Thus we Long GU, Short NU, do a spread trade to reduce risk.
Best case scenario is both legs are profitable.