Inverse Head and Shoulders Right Shoulder forming which potentially will test 650+ neckline that coincides with 0.236 Fib retracing to 1st Lower High on Daily immediately after ATH that confirmed the downtrend.
Daily Ichimoku bullish crossover (conversion line crossing base line) happened under the cloud (weak to medium signal)
Lagging line above price candles 26 days ago - Strong indication as price entered the cloud too.
Future Kumo twist about to happen - Looks like a strong possibility now.
Confirmation of a bullish move to test neckline
Price piercing out of the cloud and new daily candle breaking out of cloud
Lagging Line out of cloud 26 days ago
Future Kumo cloud turning bright meaning Span A above Span B.
Trade Opportunity
Entry - Under 480
Stop Loss - 420
Targets
Target 1 - 546 (Cloud Resistance on Daily) Target 2 - 650 (Inverse H&S Neckline) Target 3 - 688 (0.236 Fib retracement to All Time Lower High (LH) Target 4 - 895 (Optimistic 0.382 Fib retracement to All Time LH)
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Using my new script 'Levels Generator with Fibs' published this week, the short-mid term levels are shown on the chart. PM me to try the script if you are a trader who trade using levels and zones.
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Short term levels hit crossing 524 to touch 531
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Using my script AI Lite, the BUY trigger generated levels and with momentum, the price went to touch 531 crossing 526 level. The settings can be altered for short term and swing trade and levels will change accordingly.