The short term target, marked with a dotted green line is not attained yet. This will test the green and the blue triangle if the time is ripe for a breakout.
Taking a look at Ichimoto clouds, the last cloud in red invites the price to rise to its upper flat border. Just to be rejected there and fall out of and down from this cloud.
That the mid-term target, represented by the orange dotted line, sits exactly at the top of this cloud strongly suggests the same: that the price will break out of its triangles upwards and reverse at that line.
Interpretation:
The price will engage in a false breakout from the triangles upwards, then head for the dotted pink line, which is a long term target.
Overview price targets:
- green : 6750
- orange : 7200
- blue : same level as pink
- pink : 5000
