- Ripple approaching $2.76 on the upper support line within a day's time. (Pink arrow)
- Green lagging line showing possible sideways movements in the meanwhile as it crosses the candles horizontally.
- Pattern so far similar to $1 and $2 milestones.
- The Ichimoku cloud predicting a slightly lower support line later, but a higher second support line.
The price is now approaches the top of the cloud and signals higher support at $2.76 (pink arrow), around the same as the .382 fib level of $2.77/$2.78 (co-incidence?). It needs to stay above this should the price remain above the cloud for an upward trend to re-commence. Looking at the history of recent price surges, it is so far following a similar pattern.
What I'm looking out for now is:
- For the blue line to cross UPWARDS through the red line
- For those two lines to do this ABOVE the cloud.
- For the cloud to continue to act as support lines.
- If the price goes into the cloud, it's not recommended to open any positions (depending on which website you read).
I know many who use moving averages, rsi and macd over the Ichimoku cloud, so I put them all on the same chart though I left the moving average lines out as it just gets too messy with the Ichimoku.
Looking good so far with this trading system. Let's see how Ichimoku performs with "The Rippling"!
- Green lagging line showing possible sideways movements in the meanwhile as it crosses the candles horizontally.
- Pattern so far similar to $1 and $2 milestones.
- The Ichimoku cloud predicting a slightly lower support line later, but a higher second support line.
The price is now approaches the top of the cloud and signals higher support at $2.76 (pink arrow), around the same as the .382 fib level of $2.77/$2.78 (co-incidence?). It needs to stay above this should the price remain above the cloud for an upward trend to re-commence. Looking at the history of recent price surges, it is so far following a similar pattern.
What I'm looking out for now is:
- For the blue line to cross UPWARDS through the red line
- For those two lines to do this ABOVE the cloud.
- For the cloud to continue to act as support lines.
- If the price goes into the cloud, it's not recommended to open any positions (depending on which website you read).
I know many who use moving averages, rsi and macd over the Ichimoku cloud, so I put them all on the same chart though I left the moving average lines out as it just gets too messy with the Ichimoku.
Looking good so far with this trading system. Let's see how Ichimoku performs with "The Rippling"!
Worked better for bitcoin during the same time span.