C Clamp formed. Possible reset to Kijun still in play, but less likely seeing these other indicators:
* We're still in a bearish TKx
* Bearish Kumo Future
* PA forming bear flag
* Asc PA, desc volume... bearish divergence eh
* Bullish TK Cross and Kumo Future
* PA currently fighting Senkou B res—possible bullish Kumo Breakout if successful
* Can wait on confirmation of bullish HA signal candle per TrendMaster
* Risky entry noted above it on ATR (green)
This is practicing IchimokuScholar's strategy of using Renko to get SR levels. AFAIK, you may get the following settings for it:
* Traditional, 1% of first day's closing value
* ATR, 0.5 (can set ATR value to whatever you like—I'm still reading on this)
* Red line, weekly SR
* Greens, HH... possible levels for counter trend confirmation or confidence gainer
Based on the January's bullish run, we use TrendMaster to note the entry and exits with its minima and maxima counterparts of the sine wave. With this chart, its pointing to another 2 weeks till we see an up-cycle with ETH BTC (mid Sept). Let's see how it goes...
* TK Cross
* HA bullish signal candle printed via TrendMaster
* TKx—weak signal strength as we're under Kumo still
* Bearish Chikou till we get a break out and above from price 26 periods ago
* Bearish Kumo Future
Idea contains possible paths for Chikou as well. After going through past price resistance, it will encounter Tenkan and then...
We pulled back from the previous HH to a bit above Kijun / 0.5 Fib. There was a huge surge in buy volume starting around 430pm HKT, Aug 31st.
Had set some TPs stops for the short term. Can easily see this go ATH if we keep with the current market movement (sideways).
* Bullish signal HA candle printed day ago
* TrendMaster conservative stop at end opening of candle; less riskier, within body or prev candle's close (or a bit below it)
* Bearish market sentiment
* Bearish Chikou, facing res from price
* Price above Kijun, bullishness addition
* Possible bullish TK cross (weak signal strenght, as we're still below the...
* Noticing how Chikou is also a good indicator of past SR levels (along w/ flat levels in the Kumo)
* Would be great to know how to test for a breakthrough or false breakout (rejection)
* Price has a strong signal when Tenkan makes a sharp right turn through the EMA cloud. Tends to be a bullish continuation in price action.
* Vice-versa if Kijun does...
Noticed something w/ the Kijun (base line) in the EMA cloud of the TrendMaster system:
* Tries its best to stay within the EMA cloud
* Sharp right turn or horizontal movement, usually signals consolidation/retracement
* More often than not, fractal prints on the FOMO'd candle (full white candles in this case, with a red down arrow)
* The closer its to the...
Waiting on a possible bullish signal candle for TrendMaster system. Need for this HA candle to confirm when next candle prints.
Possible bullish Chikou
* Above price 26 periods ago
* More confidence if it crosses up and above Tenkan
Neutral signal on the bullish TK Cross
* Becomes bullish if price moves above the Kumo, signaling bullish Kumo breakout...