Y wave with target (E) within stipulated time.
Price has just broken above the major downtrend line.
This breakout is a bullish signal, indicating a potential reversal or at least a corrective rally.
Tenkan Sen has crossed above Kijun Sen recently, which is a bullish crossover.
Price is near the lower boundary of the Kumo, which currently serves as resistance.
The cloud ahead is bearish, implying potential strong resistance to overcome before a sustained uptrend can form.
Chikou Span positions closer to price highs, suggesting increasing momentum.
Immediate support at 0.165.
Stronger support at 0.130.
Resistance near the cloud.
Entry: Consider entering a long position now or on a minor retracement near 0.170–0.175 after confirming support.
Stop Loss: Place stop loss below support around 0.160 or more conservatively below 0.150 to manage risk.
Target: Primary target towards the wave (E) at around 0.210 – 0.220.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
Price has just broken above the major downtrend line.
This breakout is a bullish signal, indicating a potential reversal or at least a corrective rally.
Tenkan Sen has crossed above Kijun Sen recently, which is a bullish crossover.
Price is near the lower boundary of the Kumo, which currently serves as resistance.
The cloud ahead is bearish, implying potential strong resistance to overcome before a sustained uptrend can form.
Chikou Span positions closer to price highs, suggesting increasing momentum.
Immediate support at 0.165.
Stronger support at 0.130.
Resistance near the cloud.
Entry: Consider entering a long position now or on a minor retracement near 0.170–0.175 after confirming support.
Stop Loss: Place stop loss below support around 0.160 or more conservatively below 0.150 to manage risk.
Target: Primary target towards the wave (E) at around 0.210 – 0.220.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.