Ethereum has broken down from the Kijun and entered the cloud after breaking the triangle. The lagging span broke below price but seems to want to cross back above as we bounce back, however, Kijun is now proving to be strong resistance and the cloud seems to be gearing up to twist bearishly causing a test of the cloud bottom around $211.
A break above both Tenkan Sen and Kijun would be a bullish sign causing lagging span to cross above price and stalling the kumo twist for now! Possible setup for a short would be to enter a trade on retest and fail of Kijun with stop placed above Tenkan Sen and profit the bottom of the cloud BUT always keep an eye on BTC, which could cause one to pull out of the trade if BTC gains strength.
Thanks guys
A break above both Tenkan Sen and Kijun would be a bullish sign causing lagging span to cross above price and stalling the kumo twist for now! Possible setup for a short would be to enter a trade on retest and fail of Kijun with stop placed above Tenkan Sen and profit the bottom of the cloud BUT always keep an eye on BTC, which could cause one to pull out of the trade if BTC gains strength.
Thanks guys
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