The power of the mighty ichimoku cloud at its best. Watch how the (4H) cloud supported the price and avoided a strong bearish scenario.
Right now, as you can see, price is fighting
Resistances:
- 0.382 fibo at 2366
- Oblique resistance from previous high.
- Ichimoku Kijun (4H), "the blue line"
Supports:
- Ichimoku cloud 4H (aka Kumo).
- EMA65 (fat grey line) prevented to have any 4H close UNDER it.
- Tenkan (orange line) begins to point up again.
- back in a channel pointing up (black lines)
- And last but not least: A new green Elder Impulse candle, it's been a while !
If you're looking an entry or close a short you can consider a long if price, at least, closes two 4H candles in the green area.
Of course, an even safer bet will be if price closes over 0.236 fibo or above previous high.
Right now, as you can see, price is fighting
Resistances:
- 0.382 fibo at 2366
- Oblique resistance from previous high.
- Ichimoku Kijun (4H), "the blue line"
Supports:
- Ichimoku cloud 4H (aka Kumo).
- EMA65 (fat grey line) prevented to have any 4H close UNDER it.
- Tenkan (orange line) begins to point up again.
- back in a channel pointing up (black lines)
- And last but not least: A new green Elder Impulse candle, it's been a while !
If you're looking an entry or close a short you can consider a long if price, at least, closes two 4H candles in the green area.
Of course, an even safer bet will be if price closes over 0.236 fibo or above previous high.