Some says the market is mess, some says it is consolidation.
What we have noticed is the tenkan-sen & kinjun-sen crossover down occurred.
Chinkou span stuck just a bit below candlesticks, which means it is a bit more bearish than bullish for future price movements.
If there is a correction or say a Christmas discount, chikou span will fall below the blue dotted trend line, the best buy zone will be at cloud support levels between 242 and 253.
If there is a breakout, keep an eye close to the keypoint where kinjun-sen sits (311.5), then wait if it breaks 320 as well.
I personally looking forward to a correction instead.
What we have noticed is the tenkan-sen & kinjun-sen crossover down occurred.
Chinkou span stuck just a bit below candlesticks, which means it is a bit more bearish than bullish for future price movements.
If there is a correction or say a Christmas discount, chikou span will fall below the blue dotted trend line, the best buy zone will be at cloud support levels between 242 and 253.
If there is a breakout, keep an eye close to the keypoint where kinjun-sen sits (311.5), then wait if it breaks 320 as well.
I personally looking forward to a correction instead.
Comment:
Strong bullish engulfing bar at cloud support (253). Let's see if it could break the keypoint where kinjun-sen sits (311).
Comment:
You might say that bullish engulfing candle gave a false signal.
It was to retest the blue-dotted trend line to form a new down trend
At this moment, the support level is 263. We continue to go short when price actions break below 242-253
It was to retest the blue-dotted trend line to form a new down trend
At this moment, the support level is 263. We continue to go short when price actions break below 242-253
Comment:
wrong typo. not 263, it is 253
