Daily Chart: Bearish
H4 Chart: Bearish
H1: Re-entry opportunity
1) Tenkan, Kijun, Senkou span A and B are all pointing downward, with Tenkan and Kijun showing separation.
2) Chikou just broke the price level (support level), < Price
3) Stop loss at recent swing high
4) Exit plan = bullish TKX, price> Kijun, hits trailing SL based on ATR.
It is unclear if it would be a false breakout but all signs are bearish.
H4 Chart: Bearish
H1: Re-entry opportunity
1) Tenkan, Kijun, Senkou span A and B are all pointing downward, with Tenkan and Kijun showing separation.
2) Chikou just broke the price level (support level), < Price
3) Stop loss at recent swing high
4) Exit plan = bullish TKX, price> Kijun, hits trailing SL based on ATR.
It is unclear if it would be a false breakout but all signs are bearish.
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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.