shrknt2580

shrknt2580

Todays opening can be called a classic example of what I have learned from @sanstocktrader as a bottoms up reversal. This is based on two facts. The prices cannot stay far away from the kijun sen and it tends to attract the prices and second that RSI reflects a regular bullish divergence.

shrknt2580

If the prices break down below 1) 1H trendline support at 23300 2) 30 min cloud bottom at 23300

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Based on ichimoku kinko hyo

shrknt2580

Based on ichimoku kinko hyo

shrknt2580

All ichimoku components are aligned favourably. Please check for yourself and post in your comments. All opinions and analysis is heartily welcomed.