This update is from two days ago. Sideways action prevails. Here are the indicators.
Negatives:
1. Sell Fractals (4 in red box).
2. Your compass for direction, the alligator, is feeding weakly in a down trend.
3. CHOP is almost below the shaded area (38.2).
4. CHOP ZONE is red, indicating a downward bias.
5. Prices are trading in the Ichimoku Cloud .
6. Prices are below (or at) the red Ichimoku Cloud conversion line.
7. Prices are below the Ichimoku Cloud baseline.
Positives:
1. The 5/34 MACD (top middle) has a bullish cross. Histogram within is rising.
2. The phase energy (top lower) is steadily rising, but it is still below the zero line.
3. RSI/ Stochastic (top indicator) is rising.
Want odds? 65% odds down (because of the sell Fractal and alligator direction), 35% odds up/ sideways (CHOP not yet indicating trend).
What to look for: if there is to be a breakout move lower, CHOP must fall below 38.2 (below the shaded area) to confirm the trend.
There are more negatives than positives. In my opinion, use tight stops if you are long.
Do you like to watch grass grow or paint dry? It's like this for the-BTCUSD charts. Dull and not trending, yet.
Good luck to you in all your trades. Don.
Negatives:
1. Sell Fractals (4 in red box).
2. Your compass for direction, the alligator, is feeding weakly in a down trend.
3. CHOP is almost below the shaded area (38.2).
4. CHOP ZONE is red, indicating a downward bias.
5. Prices are trading in the Ichimoku Cloud .
6. Prices are below (or at) the red Ichimoku Cloud conversion line.
7. Prices are below the Ichimoku Cloud baseline.
Positives:
1. The 5/34 MACD (top middle) has a bullish cross. Histogram within is rising.
2. The phase energy (top lower) is steadily rising, but it is still below the zero line.
3. RSI/ Stochastic (top indicator) is rising.
Want odds? 65% odds down (because of the sell Fractal and alligator direction), 35% odds up/ sideways (CHOP not yet indicating trend).
What to look for: if there is to be a breakout move lower, CHOP must fall below 38.2 (below the shaded area) to confirm the trend.
There are more negatives than positives. In my opinion, use tight stops if you are long.
Do you like to watch grass grow or paint dry? It's like this for the-BTCUSD charts. Dull and not trending, yet.
Good luck to you in all your trades. Don.