Its altcoin season, and a lot of coins are experiencing a revival, including Capricoin. It has entered into the ichimoku cloud
. One of the ways to trade the ichimoku cloud
is edge to edge trades, higher timeframe the better the possibility. Now the coin has already entered the cloud, and doesnt have a lot of room left until the top of the cloud. You can enter now and be fine, but would recommend entry ABOVE ichimoku cloud
. Price breaking above the cloud is one of the strongest bull indicators in the ichimoku
is very good tool for measuring trends of coins and if you wait for price to break above the cloud, and then wait for it to confirm the top of the cloud as support(Previous resistance to support) thats a much better and secure entry point and youre not missing out on the potential upside. Set your stop below the cloud anywhere you feel comfortable but about 20% should do(Give some room for error and sometimes candlestick
wicks will shoot below support lines briefly and helps prevent being stopped out of the trade. First target should be a previous high of the coin, in this case, about .00035000 satoshis which is over a 100% trade, giving good risk to rewards ratio of around 6:1, take some profits there, and sky is the limit.
Recommended entry above cloud- 0.00015600
Stop 20% below cloud
First target- 0.0035000 satoshis, good 6.28 risk to reward ratio.
this will be a good place to take some profits and if you'd like leave some for more potential growth.
Dont forget crypto market is a 24/7 market unlike traditonal stock market so changing your inputs and then doubling settings for more data to reduce signal noise will be 20,60,120,30.
this is a similar idea to Alan Masters, who I will link below, this is the same coin but my analysis is different persepctive, and hopfully uselful.
Also some resources on the ichimoku
system and edge to edge trading .