Elliot Wave Analysis is workout out decently. We saw this leg up a little sooner than I anticipated. I accumulated A and C and was waiting for E before the unexpected jump past 4000 $CNY (602 area). This doesn't complete Wave 1 of Primary Wave 5 yet. If you check the FIB it rejected right at 0.786. I'm assuming we get more sideways movement and then a break-out...
We're finally above the Kumo and finding resistance at 698.00 (previously tested on 06/25). Kijun-Sen hasn't crossed into positive territory yet. I'm bullish here but I ditched my weak hands anticipating the upset. If we fall, we'll be looking at 661-ish.
Watching things a little closer here. From the initial break into the Kumo at around 640, the rise has looked steady. Even the recent jump from 677 to 689 stayed within the red zone (0.236). We should be looking at 710 within the next couple of days.
Closing out 680 positions in intervals and holding everything from low-600s. Once Kijun-Sen makes it out of the Kumo, then we should be ready to squeeze some shorts and touch 710. BB looks like it's setting the stage for another leg up. Anything above 720 is #bag-holder city, tread cautiously.