I slightly altered your chart by drawing some of my lines on yours.
I first took note of the chinkou, and this could be of benefit to other readers, and an advance preview of when I begin the series on the chinkou. The red line is not meant to be that of an S or R but to simply point out where the chinkou broke on top of the candle, and the corresponding current candle that created the action. When the chinkou crosses the candle heading UP, that is a bullish sign or signal. Look at that current candle where it is with relation to the tenken and kijun-- sitting right on top of both. That confluence makes for some outstanding support, and then you add the bullish sign from the chinkou. The only problem would be the candle is still under the cloud, but that would have still been a trade worth taking, then ride the chinkou as a trailing stop as per my previous instructions.
Once above the cloud, look for level areas in the past to determine signs of R. Notice the last candle how the line acted perfectly as R. It could get past it and head to the next. If it makes it that high, then watch for a possible reversal. The altimeter would be saying it is time to come back south. This could also be a good area to start trailing the stop with the 4-hour. In other words (This is only a conceptual idea what to expect concerning limited information.), look at the reading of the kijun 3 candles back. If that is touched, then the reversal may have begun.
I first took note of the chinkou, and this could be of benefit to other readers, and an advance preview of when I begin the series on the chinkou. The red line is not meant to be that of an S or R but to simply point out where the chinkou broke on top of the candle, and the corresponding current candle that created the action. When the chinkou crosses the candle heading UP, that is a bullish sign or signal. Look at that current candle where it is with relation to the tenken and kijun-- sitting right on top of both. That confluence makes for some outstanding support, and then you add the bullish sign from the chinkou. The only problem would be the candle is still under the cloud, but that would have still been a trade worth taking, then ride the chinkou as a trailing stop as per my previous instructions.
Once above the cloud, look for level areas in the past to determine signs of R. Notice the last candle how the line acted perfectly as R. It could get past it and head to the next. If it makes it that high, then watch for a possible reversal. The altimeter would be saying it is time to come back south. This could also be a good area to start trailing the stop with the 4-hour. In other words (This is only a conceptual idea what to expect concerning limited information.), look at the reading of the kijun 3 candles back. If that is touched, then the reversal may have begun.
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What makes it so powerful reversal that it is not stopping instead of going beyond OB zone.
What can be consider as a reversal point here? It is just below next R.
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What makes it so powerful reversal that it is not stopping instead of going beyond OB zone.
What can be consider as a reversal point here? It is just below next R.
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