The magic candles of our TB_3(Trend Finder) indicator turning blue was a warning of “a power loss and a trend reversal”. I drew attention to this power loss in my weekend post. Today, when our 6th blue candle comes, I think it’s time to ask whether they are driving the index with the banks and distributing goods.
Also, something caught my attention on the 8-hour chart. TB_3’s BUY signal normally lags behind the price, but on the 8-hour chart, for the first time since the beginning of the trend, the BUY signal has crossed over the price. If the BUY signal goes above the price, it is a warning that the trend may return. Also, a close below STOP on the 8-hour chart is again at the 8-hour mark since the trend bottom. MACD first SAT signal and daily RSI We see that the price cuts its average in the overbought region.
In the last case, both the blue candles and the early warnings from the Buy signal, MACD wve RSI We can run a 2-hour candle close below 3143 tomorrow as an early STOP by looking at the signals in the above. Or, STOPs can be run with a 2-hour candle close without waiting for a daily candle close below our daily STOP level of 3106. Good luck to everyone..