I've really been enjoying using the cloud lately and its proven fairly accurate. My last trade was based on the conversion line cross highlighted, strong green candle breaking into the cloud, and solid upward momentum on the MACD . Volume could have been a little stronger but I was confident momentum would carry it higher based on sentiment and relatively good news from the CFTC and SEC this week. I opened my position at $9400 with a target of $11.3k. The move seemed to be losing steam so I closed at $11,214. Soon after we get a downward MACD cross validating the exit. I do think this upward trend will continue and look to have another long entry soon when an opportunity presents itself.
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Additionally, a SlowStoch kiss of 50 would probably draw me back into this one.
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How this may play out. I expect $10k to hold but we could get close. Don't think there's any reason to panic in this area.
Trade active:
Buy target has been reached. Proceed with caution.
Buy target has been reached. Proceed with caution.