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A long term breakout will have to show up on the weekly chart as...

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ProCapitalism

4,522 Posts.

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23/01/18

20:45

Post #: 30511765
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Originally posted by PlasmaTrader ↑

Furthermore, another scenario: going by your daily chart. It's so close to a "Kumo breakout" I'd seriously be stressing holding any kind of shorts at this level. A cross above the senkou span A (top of the cloud) would signal a cloud breakout, and should buyers gain further momentum and price crosses the Kijun-sen, both would be very bullish signals. I take it, any positive momentum that breaks the cloud ($3.66), will force a lot shorts to cover thereby triggering a possible short squeeze to follow with buying support to chase the gap above. Chikou span would also follow rising above price at this point which is yet another bullish sign.

Again IMO.

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A long term breakout will have to show up on the weekly chart as well.

Although overall bullish as the SP is trading above the Kumo, the Tenkan Sen & Kijun Sen are both flat at the moment. Both will need to point up for any long term SP movement higher.

GXY Price at posting: $3.60 Sentiment: Buy Disclosure: Held
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0 Great analysis

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