What we are looking at right now is a little bit extended version "difficulty ribbon" by Willy Woo.
I simply added one more DMA to it to have an even more clear picture.
In general, it shows you the current trend for any chart period. In this case for the 1h chart, we are not far from switching short/mid-term investment trend to truly bearish.
Last time we saw that kind of change July 12, 2019.
We came back to bullish August 1, 2019, and since that time we didn't saw any signals for possible change... well at least not until yesterday`s diamond formation break.
This happened to be a quite strong signal for a possible trend change.
TL;DR
If all of the DMAs will cross-down the 200 DMA time to open a SHORT position.
If there will be upper movement time to open a LONG position.
Right NOW wait.
If you like the idea press like.
I personally think we will see the movement as drawn.
Good Luck!
I simply added one more DMA to it to have an even more clear picture.
In general, it shows you the current trend for any chart period. In this case for the 1h chart, we are not far from switching short/mid-term investment trend to truly bearish.
Last time we saw that kind of change July 12, 2019.
We came back to bullish August 1, 2019, and since that time we didn't saw any signals for possible change... well at least not until yesterday`s diamond formation break.
This happened to be a quite strong signal for a possible trend change.
TL;DR
If all of the DMAs will cross-down the 200 DMA time to open a SHORT position.
If there will be upper movement time to open a LONG position.
Right NOW wait.
If you like the idea press like.
I personally think we will see the movement as drawn.
Good Luck!
Comment:
Forgot to mention, that even if the trend will change to bearish, long term we are still in bullish since April 6, 2019.
