Are you on a 3 hour timeframe for the analysis below? And the candles mentioned are 3 hour as well?
Quote:
Originally Posted by Andrewunknown
One thing easily noticed is that the very thick kumo ascendant @ about a 45 degree angle from 06/12 tapers off and turns sideways following the decline in price on 06/17-18. The kumo steps up mildly after that, but the angle and density are gone. Now, Contrast the drop off in the kumo with the relatively steep ascent in price from 06/23-06/25. See any divergence here? This is where price and the cloud are telling different stories. The break and then failed re-test of Kijun-Sen late 06/26 - early 06/27 confirmed this. In addition to this, and what really signaled the reversal here was the evening star/bearish engulfing pattern on the 0300-0900 ET 06/26 candles.
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