CLOUDPT - Monitoring the market direction.N wave with E, N, V & NT projection.
The price is currently above the Kumo, indicating a bullish market sentiment.
Tenkan-sen is above the Kijun-sen, reinforcing the bullish outlook.
The Kumo itself is green, suggesting continuation of the upward momentum. Watch for price action near the upper edge of the cloud for potential breakout signals.
Consider entering a long position near 0.915 (current price) or on a confirmed breakout above 0.930, which aligns with the projected resistance levels.
Confirmation: Look for strong bullish candlestick patterns or a break above the Kumo with increased volume to validate the long entry.
Set a stop-loss at 0.860, below recent swing lows, to manage risk in case the price moves against the position.
Monitor wider market trends and any news that could affect the technology sector in Malaysia.
Keep a close watch on volume; a surge in volume accompanying price increases would strengthen the bullish sentiment.
Stay alert for any changes in the Kumo structure, as a shift to a thicker Kumo might indicate future volatility.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
