W1 price is continuing with bullish trend: the price is located far from Ichimoku cloud in the bullish area of the chart. Chinkou Spam like is indicating the strong primary bullish trend; the price is trying to test resistance level at 64.64 to above for the bullish trend to be continuing. W1 timeframe: - if the price breaks the resistance at 64.64 to above on weekly close bar so the strong bullish continion will be continuing; - if not so the price will be on secondary ranging within s/r levels waiting for the direction of the secondary correction to be started or to the bullish trend to be resumes. Recommendation for long: watch close W1 price to break 64.64 for possible buy trade. Recommendation to go short: watch weekly close price to break 45.54 support level to below for possible sell trade. Trading Summary: primary bullish
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So, the price was bounced from 121.66 resistance level to below for the secondary ranging condition. If the price broke 70.06 support to below so the secondary correction within the primary bullish trend will be started.
The weekly price broke 64.64 resistance level to above together with 83.98 and 103.29 resistance. The price is located far above Ichimoku cloud for tryin g to break monthly resistance level at 117.74 to above for the strong bullish trend to be continuing. Alternatively, and price will be on ranging within s/r channel waiting for direction of the secondary correction to be started or for the bullish trend to be continuing.
As we see from the chart - the price broke resistance level at 64.64 together with the next target at 83.98 to above for the strong bullish trend to be continuing.
Idea: waiting for secondary correction in long-term situation for example.