We're seeing a significant and pretty clear divergence in the RSI and MACD on both the 1 hour and 4 hour charts indicating a potential trend reversal to the downside 618 fib.
My trade entries will be shorts at
@ 25% of my initial risk size.
I recommended trading with 5% of your stack on this particular trade.
Long term triangle forming.
Should break out towards 0.0001100+, long position taken at 0.0001050.
Intending to take profit around 0.0001200+.
We should be seeing the beginning of a trend reversal lasting for a little over 8 days.
Price range can be confirmed by the MACD, RSI and Ichomoku Cloud.
Ichimoku Cloud 5m, 15m, 30m, 45m showing a bearish trend.
We will hop on the train and sell short @ 0.0008900
Stop loss @ 0.0008950
Take profit at 0.0008850, 0.0008800 and 0.0008700.
With the ichomoku Kumo (cloud) being bearish, we can see that the bearish trend has nearly fully developed. Although not possible to catch the beginning on the trend since it's...
Ichomoku Cloud Entry Rules on 15m Chart
Price has to be above Kumo Cloud
Tenkan Sen greater than Kijun Sen
Chikou is showing strong bullish momentum (Open Space)
Significant movement to next major support/resistance
Kumo Future is bullish
All Ichomoku Indicators have to be bullish
10% Stop loss
Place alert at Kijun Sen