Divergence is being shown on the ichimoku in the weekly time frame. The long term momentum is shifting to unstable now.
Price is falling while the kijun is now rising.
On the daily, the chart is beginning to show a kumo break however, price is above the cloud still, and its still above the kijun.
Now if price does close below the kijun on the weekly. Price may fall towards the kumo and touch and possibly bounce off the kumo.
I typically stay away from the instrument that is in this type of neutral environment. Because your at a 33.3% chance of the market working in your favor.
For instance, if your looking for a bounce, well the market may end up forming a kumo break instead or instead become a range bound market.
As in for me, i am staying out of this market until i see new long term momentum regain strength. Meaning higher highs or if price action and the ichimoku provides a signal to start looking for a short.
Price is falling while the kijun is now rising.
On the daily, the chart is beginning to show a kumo break however, price is above the cloud still, and its still above the kijun.
Now if price does close below the kijun on the weekly. Price may fall towards the kumo and touch and possibly bounce off the kumo.
I typically stay away from the instrument that is in this type of neutral environment. Because your at a 33.3% chance of the market working in your favor.
For instance, if your looking for a bounce, well the market may end up forming a kumo break instead or instead become a range bound market.
As in for me, i am staying out of this market until i see new long term momentum regain strength. Meaning higher highs or if price action and the ichimoku provides a signal to start looking for a short.