A short position may be considered with the following criteria
1. Price retraces to 61.8 fib of the CD leg (butterfly pattern ) , which is at the Kumo resistance.
2. Price stays beneath the Kumo cloud, favouring a short trade.
3. There are a minimum of 2 short bricks formed.
4. Ideally price is beneath the Tanken Sen
Set stop loss above the Kumo Cloud.
Target 1 is D.
Target 2 is the equal legs projection of CD.
1. Price retraces to 61.8 fib of the CD leg (butterfly pattern ) , which is at the Kumo resistance.
2. Price stays beneath the Kumo cloud, favouring a short trade.
3. There are a minimum of 2 short bricks formed.
4. Ideally price is beneath the Tanken Sen
Set stop loss above the Kumo Cloud.
Target 1 is D.
Target 2 is the equal legs projection of CD.