Expect price to return to the Kijun in the next couple of weeks. Price has now crossed up over Tenken. Tenken and Kijun should clamp together in the near term and bring the price back to the .5 Fib from last major move. Expect at least 20% return not including price overshoot of Kijun. Heikin Ashi shows clear trend reversal.
Comment:
in the trade, T beginning to return to K ("clamp"). Possible bullish edge-to-edge setup appearing on H4 and D1 charts (up to the $240 level). Watch to close in the bearish cloud in the next few days. If rejected there, close the trade.
Trade active:
Still think a snap back to the kijun (pink line) is overdue. Most of the ARK favorites are being hammered like crazy. I like this company long term and add to my position as it falls.