Two Possible Correction Paths After 3D Ichimoku TK Cross

14 May 2021

First we take the 1D Kijun line and add it to our 3D chart where we recently observed the TK cross to the downside. This will serve as a major level that we could revisit in the short term.

Second we look for our long term support area. I see this being around 30k due to volume and the long/flat areas of the 3D Kijun and the 3D Cloud.

Third we look for an alternate path if we were to continue to the downside in the short term rather than revisiting the 1D Kijun. This would probably be Senkou Span B which is the bottom of the 3D cloud.

Ultimately, whichever route we take in the short term, should result in a continued consolidation within the 3D cloud before we breakout to the downside towards Long Term Support.

14 May 2021

Not

the third wave is often the longest, but never the shortest

15 May 2021

Not

late shorts get rekt, be safe

17 May 2021

Not

Making our way into the 3D Ichimoku cloud now. Bottom of the cloud/support currently about 35k

18 May 2021

Not

Trade closed, target reached

19 May 2021

Not

Looks like we should head back to the top area of the cloud now which would resemble the alternate path that we mentioned initially. We seem to have found support on the bottom of the 2D ichimoku cloud at the moment which could spring us back to the top side.

19 May 2021

Not

Should have stuck with my original short plan longer. Cloud is always right but I didn't think it would drop that far in a straight shot