Ichimoku bounce completed. Waiting to the second one!
Updated
Well, as you can see 99% of ideas was canceled due to market collapse. For most of us it was unpredictable situation. I also was hoping to enter ALL IN in long position after bouncing @ 1.08 but this does not happened.
Now we can see strong bearish trend, bulls are tired now.
Ichimoku cloud concept defines trend bouncing 2-3 times per cycle. We already see first well recognizable bounce, and waiting for the second one. There is a strong support at daily 200 EMA at 0.75, which can retrace ripple to the ichimoku cloud at 0.85 where strong resistance is located. Re-bouncing 0.85 will make second wave to the lower support at 0.40.
If ripple brokes Ichimoku cloud, then we can expect consolidating, and future reversal, but this is unlikely.
I am short on this buying at 0.85, Target 0.40, Stop 0.95
Happy trading, and make some profit. This is not an advice. This is my own decision.
Now we can see strong bearish trend, bulls are tired now.
Ichimoku cloud concept defines trend bouncing 2-3 times per cycle. We already see first well recognizable bounce, and waiting for the second one. There is a strong support at daily 200 EMA at 0.75, which can retrace ripple to the ichimoku cloud at 0.85 where strong resistance is located. Re-bouncing 0.85 will make second wave to the lower support at 0.40.
If ripple brokes Ichimoku cloud, then we can expect consolidating, and future reversal, but this is unlikely.
I am short on this buying at 0.85, Target 0.40, Stop 0.95
Happy trading, and make some profit. This is not an advice. This is my own decision.
Note
Safest entry point is when EMA 200 is crossed down after a day in consolidation.Order cancelled
Ripple don't stop at 0.85 zone, it broke ichimoku cloud and did not broke daily EMA200 back downward. So this idea is invalid.Note
Ripple can still go down through daily EMA200, but ichimoku pattern is invalid.Note
Order can be reactivated soon.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.