Testing 200MA 1H, Kumo breakout
Updated
Hi, as u can see we are testing 200MA
what we have
If we break 200MA i'll probably go long with 2 target (green), if we fail we can fall to 0.618 fibo level (red).
Due to high RSI if we break 200MA and get target i'll predict a correction just above the MA.
Trade securely, this is only my opinion
Criticism welcome!! :)
Good luck
what we have
- kumobreakout
- Chikou span above price
- senkouA>senkouB
- neutral tk cross at 680
- tenkan above kijun
- RSI around 70
If we break 200MA i'll probably go long with 2 target (green), if we fail we can fall to 0.618 fibo level (red).
Due to high RSI if we break 200MA and get target i'll predict a correction just above the MA.
Trade securely, this is only my opinion
Criticism welcome!! :)
Good luck
Note
we are in the blue channel, a little correction to 711/715 will be healty for the next resistence at 738/745 (200MA 4h), in the last 10 days we failed 2 times while attempting to break 4h MA but this time we have a flat spanB as support (just 20 eur below) so if we fail we can (hopefully) bounce on it and try a couple of time before a drop-rejection. as u can see my english is super bad but hey we are here to improve! ;)
Note
ops, right 4h view here
Note
0.382 fibo reached, if we go below 710/711 price will invalidate blue channel and we can fall to 700 and return in the major downtrend.
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