Almost a week since last post.
Price action continued the upward trend sharply after coming into the kumo cloud. It now continues to retreat back to where the kumo cloud hi is.
Tenkan-sen remains above ki-jun sen, and in a converging manner. This usually indicates volatility of the price action decreases. Chikou span, cutting below the jikun-sen for few periods, recovers to stay above kijun-sen there after. The three lines remain above the Kumo cloud, show signs of the bullishness in the price activity.
However, it is of concern that the forward kumo cloud getting thinner. Support of the bullish trend ahead may diminish. A change of mood may occur should the bullish cloud turn bearish.
Position was added earlier. The view is the bullish cloud support now dictates the current trend. While moving forward, it may be wise to square off some profits. Overall stop loss level has also been adjusted to maintain risk allowance.
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