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Timing a long entry

Timing a long entry

- Bullish trend and very bullish Ichimoku setup
- Short term support at Tenkan Sen: 131'23, major weekly supports are lower at: 131+ and 130 +/-
- Both EWO and MACD are bullish
- Heikin-Ashi shows some indecision, bulls may get back into control... of course it will be all about the FED

- Ichimoku setup has become a bit neutral due to the pull back: price is below Kijun, we also have a weak bearish Tenkan/Kijun cross
- We still have a good support zone in 131'06 - 131'21 zone below marked by trendline, spot Kumo and 100wma
- Heikin-Ashi shows complete indecision: doji candles in a row, haDelta stuck at zero
- EWO down close to zero but still small green: neutral, indecision
- In case price spikes above Kijun at 132'14, that would bring more buying power to market.

- Ichimoku setup is neutral with flat averaged. Price is moving sideaway in 131'25 - 132'12 range
- EWO shows positive divergence

Summary: higher probability of bullish trend continuation, but given the short term very much neutral picture you have to be smart about risk/reward. Either buy at 4H range bottom, or wait until tomorrow, and only buy the clear bullish break above 132'14 (daily Kijun and 4H 100wma + Kumo)