Price came up nicely yesterday after finding support by the
Kumo Cloud. A Kijou Sen break (White equilibrium line) in
bullish trend (Price trades above Kumo Cloud and the Cloud is
bullish Green Senkou span above the red), means that further
upside may come. Since the lagging span (purple line) is almost
above price 26 periods back (will be above after this daily close)
means that a bullish signal is confirmed. If we see a retracement
back towards the white Kijou line or a consolidation above it,
it will be a good buying opportunity IF the TK Cross appears
(Red Tenkan Sen cross the white Kijou sen). A deeper move
down should be supported by the Kumo cloud and trendline
if Bullish setup is to be valid.Note that price did complete a large
AB=CD by the 1,38. It was the medium term target, thus an upward
move is in line with the harmonics.
Kumo Cloud. A Kijou Sen break (White equilibrium line) in
bullish trend (Price trades above Kumo Cloud and the Cloud is
bullish Green Senkou span above the red), means that further
upside may come. Since the lagging span (purple line) is almost
above price 26 periods back (will be above after this daily close)
means that a bullish signal is confirmed. If we see a retracement
back towards the white Kijou line or a consolidation above it,
it will be a good buying opportunity IF the TK Cross appears
(Red Tenkan Sen cross the white Kijou sen). A deeper move
down should be supported by the Kumo cloud and trendline
if Bullish setup is to be valid.Note that price did complete a large
AB=CD by the 1,38. It was the medium term target, thus an upward
move is in line with the harmonics.