The top chart came from Timepass' post in 5706.
There has always been a contrast in the charts posted by the server from those charts, as opposed to the MT4 charts from XTD Trading. The reason the cloud, tenken, kijun, etc are all plotted so differently is that the candles all have a different look, so it makes for some differing analysis, because we end up looking at 2 different charts.
TP's is showing the typical TL break, 2 candles later it retraced back to the point of the break, as my horizontal line shows, and then the trend continued. The top of the cloud acted as perfect R, which it now has incurred a decision point.
If mine is right, then my reversal point is officially wrong, and Intelliblitz wins our friendly little confrontation. Considering it is a catch 22 for me, I'll say I have more confidence in my charts than I do in Timepass' (No offence, TP), and I hoist up the white flag in properly calling the reversal point.
I still noticed a nice confluence between TP's chart and mine. His candle hit the top of the cloud, and it served as perfect containment. Mine hit the bottom of the cloud and i served as perfect containment. Nice, heh?
Both charts are showing it could be a bear day on Wednesday, as there is room on both for a correction, and both hit the key R's as I explained.
What is now tilting the scales in favor of the bulls is yesterday's spike over the TL which is a typical TL break when you go from the close of the previous candle to the close of the new candle. Therefore, a correction is due, and the TL break is 4911 and the TL support is 4903. If I was trading this market, that area would make for an ideal entry, with a short stop to go long.
The lime line I drew has nothing to do with a TL break, but coincides wit hthe chinkou, which is also lime. The chinkou just had a fresh break over the top of the candle. If it corrects back to the top of the next candle (Still means it is on top.), it would match perfectly with the TL break.
The line was drawn to show the lowest point into the future the market could retrace and still satisfy the chinkou. If it did turn out to be a broad range consolidation before continuing the UP, then that is form support
Notice the gold horizontal line on top. Watch for a strong reaction at that point. It is 5088, which is the YR1. As long as Sudoku's 18-letter forecast is right (lol), and my forecast of the YS1 getting hit at 4158, then the YR1 represents a strong rejection point.
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There has always been a contrast in the charts posted by the server from those charts, as opposed to the MT4 charts from XTD Trading. The reason the cloud, tenken, kijun, etc are all plotted so differently is that the candles all have a different look, so it makes for some differing analysis, because we end up looking at 2 different charts.
TP's is showing the typical TL break, 2 candles later it retraced back to the point of the break, as my horizontal line shows, and then the trend continued. The top of the cloud acted as perfect R, which it now has incurred a decision point.
If mine is right, then my reversal point is officially wrong, and Intelliblitz wins our friendly little confrontation. Considering it is a catch 22 for me, I'll say I have more confidence in my charts than I do in Timepass' (No offence, TP), and I hoist up the white flag in properly calling the reversal point.
I still noticed a nice confluence between TP's chart and mine. His candle hit the top of the cloud, and it served as perfect containment. Mine hit the bottom of the cloud and i served as perfect containment. Nice, heh?
Both charts are showing it could be a bear day on Wednesday, as there is room on both for a correction, and both hit the key R's as I explained.
What is now tilting the scales in favor of the bulls is yesterday's spike over the TL which is a typical TL break when you go from the close of the previous candle to the close of the new candle. Therefore, a correction is due, and the TL break is 4911 and the TL support is 4903. If I was trading this market, that area would make for an ideal entry, with a short stop to go long.
The lime line I drew has nothing to do with a TL break, but coincides wit hthe chinkou, which is also lime. The chinkou just had a fresh break over the top of the candle. If it corrects back to the top of the next candle (Still means it is on top.), it would match perfectly with the TL break.
The line was drawn to show the lowest point into the future the market could retrace and still satisfy the chinkou. If it did turn out to be a broad range consolidation before continuing the UP, then that is form support
Notice the gold horizontal line on top. Watch for a strong reaction at that point. It is 5088, which is the YR1. As long as Sudoku's 18-letter forecast is right (lol), and my forecast of the YS1 getting hit at 4158, then the YR1 represents a strong rejection point.
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