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I took a bunch of stupid trades on this trend, I should've viewed the chart without the candles to view cloud trend. Oh well, you live and you learn.
Expert traders would've been shorting since the first bearish TK cross with a nice 28% short return, it will probably continue to go down by the looks of it.
Apparently what caused the downfall on 15th/16th is that ...
Looking good, definitely a rally occurring but lower volume would've been better as it would mean the bulls still have power to push the price up. From here the price could go up with resistance at fibs or it could dip as the cloud could provide resistance. Will have to see on the next candle.
Sideways choppy chop incoming, trading sideways is for pro's.
I think this will happen:
Cloud entry, tight edge to edge if cloud continues to get tighter. Kumo breakout with mediocre volume. Resistance at 518 and line above. Dependant on TK cross and kumo switch this will be a strong bull run especially if cloud is tight.
Looking good for a bull run to higher prices.
All notes are within the chart.
I am not a professional TA person, I am learning the trade.
Bullish TK cross (likely to happen) will ensure we enter cloud edge closest to current price, might consolidate a little bit. Volume shows that there could be some high vertical wicks (maybe?). Edge to edge will occur as soon as price touches closest edge, larger cloud means more consolidation within the cloud.