Hi guys,
I published this idea a week ago but was deleted for post it on another language. The perfect entry would be the bot of the cloud but i think in this zone could work too.
This is a trade of GNO on the BTC pair. I traded this coin in the previous move up and it went really well, so let's try it again.
I'm turning bullish again because there are some things that might point a reversal is near, let me explain:
Bullish scenario on the 1W timeframe:
The price is retesting the bottom of the cloud (a close below it on the 1W timeframe would invalidate this setup).
The price is retesting the 0.786 fib level from the previous move.
In the same level we got a single candle OB which is now a demand zone (it acted as resistance before the previous move up).
Previous bullish Tenkan/Kijun cross that didn't crossed bearish on the way down.
The volume joins all the move, it was ascendent on the way up and it's now descendent on the way down.
Bullish scenario on the 1D timeframe:
RSI bullish divergence in the oversold area (it usually work really well in that area).
Bearish scenario:
On the 1W timeframe we got the price below the Kijun, and in the daily timeframe it looks bad despite the RSI divergence.
As target we got:
A supply cluster.
The -0.236 fib level.
The actual top of the cloud (Edge to Edge Ichimoku strategy).
I'm taking this trade because the R/R is great and i think it will found support on those levels on the weekly timeframe .
A lot of my strategy is based on the knowledge acquired from @HsakaTrades and @CryptoCred on twitter , so go follow them.
I published this idea a week ago but was deleted for post it on another language. The perfect entry would be the bot of the cloud but i think in this zone could work too.
This is a trade of GNO on the BTC pair. I traded this coin in the previous move up and it went really well, so let's try it again.
I'm turning bullish again because there are some things that might point a reversal is near, let me explain:
Bullish scenario on the 1W timeframe:
The price is retesting the bottom of the cloud (a close below it on the 1W timeframe would invalidate this setup).
The price is retesting the 0.786 fib level from the previous move.
In the same level we got a single candle OB which is now a demand zone (it acted as resistance before the previous move up).
Previous bullish Tenkan/Kijun cross that didn't crossed bearish on the way down.
The volume joins all the move, it was ascendent on the way up and it's now descendent on the way down.
Bullish scenario on the 1D timeframe:
RSI bullish divergence in the oversold area (it usually work really well in that area).
Bearish scenario:
On the 1W timeframe we got the price below the Kijun, and in the daily timeframe it looks bad despite the RSI divergence.
As target we got:
A supply cluster.
The -0.236 fib level.
The actual top of the cloud (Edge to Edge Ichimoku strategy).
I'm taking this trade because the R/R is great and i think it will found support on those levels on the weekly timeframe .
A lot of my strategy is based on the knowledge acquired from @HsakaTrades and @CryptoCred on twitter , so go follow them.