Price tried to penetrate the cloud but the resistance proved to be just too much. The weekly Kijun, weekly tenkan and monthly cloud ssa are just too much for price to penetrate. This week we expect price to take the path of least resistance, and that is down! The lagging is not yet in free territory so we reduce size and take caution.
Entry: 24 386.8
SL : 24 883.7
TP : 23 030
RR : 2.54
Entry: 24 386.8
SL : 24 883.7
TP : 23 030
RR : 2.54
Trade closed: stop reached:
It pierced through the cloud. Lesson to learn is that regardless of the weekly bearish outlook i noticed what was more important was to look at the daily configuration. The daily price was above both Kijun and Tenkan and the with kijun below tenkan.
