This may touch the cloud again before going up more. This is possible wave 2 of Elliot Wave
Targets are old support and resistance areas that also match some fib zones. First target is touching 3d Ichimoku Cloud.
Weekly Stoch RSI still looks good
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This is an update for
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And an update for
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It broke the 3h cloud and currently trading above it. May retest the cloud area.
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First target reached
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Will add more to the original position from 0.000004. It seems that it's preparing for next wave. It still has momentum but seems to enter 3d cloud.
I'll also look to set a break even in case the move fails.
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On the low timeframes(1h), it seems that we have completed another elliot wave set.
Also, on 1d it seems that we are currently consolidating and we may head to suppotr clouds. Stoch RSI has reset and if we have enough power, we can break through 3d resistance cloud.
If we spike through 3d cloud, we may retest the cloud and after that go for a new wave(5)
Thanks for the update. Can you provide some explanation on what the updates are for? WIll help a person not grounded in TA.
WealthMurphy
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@sundayfunday2004, basically as market makes the moves, the data changes. Based on market changes we can reinforce or invalidate a trade, this giving us a better return of investment and/or protecting against loss.
Hope I understood your question and I've answered what you've asked :).
Good luck with your trades.