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TOMO has been consolidating since the last move up, yesterday some bullish continuation signs popped up and with volatility going down it could make a bigger move soon.
In the two red circles, you can see the Lagging span (Purple line) bounced of the Kijun (Dark Blue Line) and the Tenkan (Yellow line) as well and is trading above the Kijun now. These are very bullish signs and with the Lagging span trading above prices and Kijun the only resistance left is the historical resistance.
Just below the Kijun you have the additional support of the cloud SSB and the Pivot. The most important thing to keep in mind if you want to trade this setup would be the historical resistance marked on the chart which also aligns with R1 and if price pushed up you should look and see how it reacts to that level.
It could be a place to take profit if you want to play it safe. And when you place your stop it should be at least under the cloud but if you look at the previous wicks it would be wise to leave enough room and adjust your position size accordingly.
TOMO has been consolidating since the last move up, yesterday some bullish continuation signs popped up and with volatility going down it could make a bigger move soon.
In the two red circles, you can see the Lagging span (Purple line) bounced of the Kijun (Dark Blue Line) and the Tenkan (Yellow line) as well and is trading above the Kijun now. These are very bullish signs and with the Lagging span trading above prices and Kijun the only resistance left is the historical resistance.
Just below the Kijun you have the additional support of the cloud SSB and the Pivot. The most important thing to keep in mind if you want to trade this setup would be the historical resistance marked on the chart which also aligns with R1 and if price pushed up you should look and see how it reacts to that level.
It could be a place to take profit if you want to play it safe. And when you place your stop it should be at least under the cloud but if you look at the previous wicks it would be wise to leave enough room and adjust your position size accordingly.