Weekly: AGI is still going strong on weekly chart with some headwinds along the way. All indicators are still green but a fall this week may turn Chikou Span in red light. But as long as other indicators are still in green, bullish sentiment will continue. Notice also that Kijun Sen (red line) is moving in horizontal direction and this may attract the price to move towards it. Daily: Daily chart is also showing an identical sentiment the same on its weekly chart. If price will continue to retrace then Chikou Span may turn on the red light but as long as the Kumo will support the price then we are still in a bullish trend. Notice that Kijun Sen is making a horizontal line and not following the price going up. As we know price tends to move alternately away from and back toward the Kijun Sen in a cyclical fashion due to the Kijun Sens strong expression of equilibrium. For those who were able to protect their profit I think did a good move. Caveat! traderslogbook/agi-is-facing-some-headwinds-as-rsi-loosen-up/
Posted on: Sun, 03 Nov 2013 06:39:54 +0000
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