Fairly new to this and just messing around with some new tools I've recently learned. I spotted the trend which can be seen by the black lines that touch high and low points. The wedge
looks great in the short run but I suspect to see a minor retracement before continuing its move upward. A strong bounce can be seen off of the trendline
. The fact that there was a bounce off of the baseline and no bearish
crossing between conversion line and baseline signals to me that this may continue going up and finishing the 5th wave before retracing. There was also no testing of the kumo cloud which is a pretty good sign that this may go up just a tad bit more. I would keep an eye out on the 12K level to see what happens. Only time will tell I suppose ;P
I am no expert, please take this with a grain of salt. I am merely testing these indicators for myself and attempting to learn through trial and error. Let me know what you think!