On my analysis yesterday, I have reminded the importance of the 3rd candle. If the 3rd candle was crossing the Kumo cloud , we can consider that the reversal trend is almost done.
Just as a reminder. 1st signal. Tenkan Kijun twist.
2nd Signal. Candle 1 and 2's effort to penetrate the Kumo CLoud.
3rd signal the lagging span which has penetrated the cloud the price but still facing the Kijun as a resistance.
The signal left are. 4th the Kumo Twist.
5th. The penetration of the Lagging span through the Kumo Cloud and going upward.
At the present time and on a technical basis we are at an overbought level. Therefore, There may be a little correction, but nothing to shadow the general trend...
The pull back may go down otwards 102.2 but not further and MA50 may be very much used as a support level.
Just as a reminder. 1st signal. Tenkan Kijun twist.
2nd Signal. Candle 1 and 2's effort to penetrate the Kumo CLoud.
3rd signal the lagging span which has penetrated the cloud the price but still facing the Kijun as a resistance.
The signal left are. 4th the Kumo Twist.
5th. The penetration of the Lagging span through the Kumo Cloud and going upward.
At the present time and on a technical basis we are at an overbought level. Therefore, There may be a little correction, but nothing to shadow the general trend...
The pull back may go down otwards 102.2 but not further and MA50 may be very much used as a support level.