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Ichimokukinkohyo

AUDUSD Intraday LongI have taken an intraday long position on AUDUSD using the 1H and 15m charts for confluence. Each chart shows: 1. Thick Kumo Angled up 2. Tenkan-Sen+Kijun-Sen angled up 3. Chikou above candles We are also in the first leg of a Kumo breakout according to the 1H chart. I entered on the labelled resistance breakout. Ichimoku is somewhat bearish on the 4H chart, which is why I am managing this trade aggressively. I will keep my SL tight to manage risk.
Long
by ichimokucorner
USDJPY Bullish - Nearing V Price Target USDJPY is bullish on the 4H timeframe according to Ichimoku. 1. Kumo is thick and angled up 2. Tenkan-Sen and Kijun-Sen are angled up 3. Chikou Span is above the candles 4. Price has cleared recent horizontal resistance. I entered a long position at the break of horizontal resistance. I am holding with a target price of 128.959 as this is the Ichimoku V price target, using the 4th March low, 18 March high, and 30 March low as intercept points. I am shifting my stoploss up higher with every flat Kijun-sen on the 30m chart expecting the bullish momentum to continue intraday.
Long
by ichimokucorner
S&P500 still bearish — three hurdles to pass before I trade longS&P500 (via E-mini futures) is still bearish on the 4H Ichimoku chart. There are three hurdles that it needs to pass before I will look for a long position: 1. Price action resistance at 4455 2. Resistance from the future Senko Span B at 4442 3. Price is still under the cloud I would look for long positions if it clears these three hurdles and we have a Kumo breakout. I would look for shorts if it goes back below 4360. Until either of these happen I won't trade. It's that simple!
CME_MINI:ES1!
by ichimokucorner
BTC - BREAKOUT OR BULL TRAP ?DAILY (D1) Yesterday's price action triggered a second long white candle in a row, which broke on a closing basis (41'505) the upside triangle trigger level @ 41'115 which should, potentially activate the triangle technical target, calling for a move towards 43'400 , which is also, by the way, projected in the next days the top of the daily clouds resistance area and therefore should be seen, if reached at a KEY PIVOT LEVEL FOR FURTHER DEVELOPMENT Interesting to note that 43'390 is the 50% Fib ret (48'534 - 35'547) and also the KIJUN-SEN, meaning very important level as previously mentioned. Nevertheless, following this first upside breakout I would remain cautious and it also could be a BULL TRAP as already seen in the past... In addition, the current level of the daily top clouds resistance area (41'900) is working as the first obstacle to be broken to confirm this upside move towards 43'400. On the downside, a failure to hold and close on a daily basis above the triangle trigger level, now @ 41'061 should be seen as the first warning signal of a wrong breakout and would put again the BTC on a neutral mode, roughly in the middlle of the daily clouds. 4 HOURS (H4) TOP OF THE 4 HOURS CLOUDS is currently working perfectly well, in rejecting four successive upside breakout attempts !! RSI is losing momentum and began to turn down. LAGGING LINE is above both TS and KS but did not managed, so far, to enter in the clouds resistance yet... First support to look at in the 4 hours time frame is @ 41'166 and a closing below that level would increase the risk, calling for further downside towards the 4 hours clouds bottom area, around 40'300 (MBB being @ 40'467 and KS @ 40'150 Globally the psychological 40'000 former resistance level became now the NEW SUPPORT which should not be broken in order to keep going the ongoing upside bias ! 1 HOUR (H1) Short term support @ 41'277 (currently under attack) ahead of 41'166; 38.2% Fib ret of the last rally @ 40'53 , 50% @ 40'158 and 61.8% @ 39'781, this Fibonacci retracement zone match with the hourly clouds support area, which, also, perfectly corroborate the important 40'000 support level previously mentioned in longer time frame. Have a nice trading day. IRONMAN8848. - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
How I'm setting stop losses on USDJPY using IchimokuIn my recent post I indicated that I am long USDJPY due to the higher timeframe bullish trend: A question that traders often ask is "how do I set a stop-loss when the market is moving up?". This applies if you are looking to enter your first trade in the trend, or if you want to trail a stop-loss on an existing order. The answer is simple when you use Ichimoku. Briefly, Ichimoku lines indicate the "market equilibrium" over various timeframes. There are three equilibrium lines (or "Han-ne" lines in Japanese). These are: 1. Tenkan-Sen - 9 periods / Short-term equilibrium (yellow on my chart) 2. Kijun-Sen - 26 periods / Medium-term equilibrium (red on my chart) 3. Senko Span B - 52 periods / Long-term equilibrium (red kumo cloud line on my chart) A Han-ne line is created by finding the midpoint of the highest high and lowest low within the set number of periods. If price is above a Han-ne line, it is said to be bullish in that timeframe, and the opposite for bearish. There is a lot more to learn about Han-ne lines and the meaning of the equilibrium, but for our purposes here, understand that these lines tell you the point where buyers and sellers meet. One of the reasons we know that USDJPY is bullish is because the Han-ne lines are angled up on the higher timeframes (4H and 1D). This means that the point at which buyers and sellers meet is increasing. In other words: we are trending up! Now: the secret for setting your stop-loss. If the Han-ne line tells us where the equilibrium is over the short/medium/long term, periods where the line remains flat are significant. If a Han-ne line, especially Kijun-Sen or Senko Span B, remains flat for multiple periods, it means that midprice has been established by many buyers and sellers. We can use these flat Han-ne lines as: 1. Support/resistance 2. Zones to place stop-loss orders As I look at a pair like USDJPY trending up, I am zooming into the lower timeframes (think: 15m or 30m) and looking for flat Han-ne lines. If I see several "zones" forming I can place my stop-loss just near the other side of that zone. This means I can receive adequate protection, but also know that if the price does clear that zone and hit my order, a reversal or pullback is likely happening and it will be a good time to exit anyway. We've already seen a flat Kijun-Sen line act as support on the 15m chart: You can use this concept for any pair, currency, stock, crypto, etc. The secret is to look for flat lines and use these as your support/resistance levels and stop-loss zones. Happy trading!
Education
by ichimokucorner
BTC - UNEXPECTED RECOVERY ?HOURLY (H1) Although no bullish divergence was detected in this hourly time frame, the BITCOIN managed to recover nicely, breaking on its way up all resistances very quickly, in a short period of time; it also managed to recover above the hourly clouds and hold above it for the time being. After having reached, a coupled of hours ago, an intraday high @ 41'250, the BTC is currently moving slightly down and is now, again, below the Tenkan-Sen, which should be seen as a good indicator in this hourly time frame. We are now, roughly, in the same position than yesterday morning when the BTC reached a intraday low @ 38'547, no RSI bearish divergence had been detected and nevertheless a nice rally took place (38'547-41'250). Are we going to see the same scenario on the other side ??? The answer to this question will be given by the KEY PIVOT LEVEL OF 40'000 , which also match with the hourly clouds support area, the H4 Mid Bollinger Band, the bottom of the Daily clouds zone; in summary, A VERY IMPORTANT LEVEL WHICH SHOULD NOT BE UNDERESTIMATED !!! 4 HOURS (H4) The H4 clouds worked perfectly well as resistance level for the time being; two successive "shooting stars" took place when attempting to enter in the clouds. On the upside, watch the 4 hours clouds resistance area between 40'950 and 42'100 as the next barrier to break. A failure to hold, on H4 closing basis, above the ongoing former downtrend line resistance, currently @ 40'469) which became now the new support, would be the first warning signal of a BULL TRAP and would opent the door for lower levels towards, the MBB @ 40'178 ahead of the cluster of KS and TS @ 39'900. DAILY (D1) Despite this recent rally, the BTC did not managed to close on a DAILY BASIS above the Tenkan-Sen @ 40'998 ! Therefore, the today's ongoing price action and more important its closing level may give more clues about further development for the upcoming daily session (s). Indeed, the TRIANGLE PATTERN is still alive, with now, 2 potential breakouts - 41'105 and 39'813 , targeting respectively 43'390 on the upside and 37'474 on the downside, depending on which side the breakout will occur... Watch TS (40'481) as the first support ahead of the daily bottom clouds @ 40'000. WEEKLY (W1) Last weekly closing @ 39'691 below the weekly clouds bottom (39'895) for the first time since January 2022 when the Bitcoin reached an intraweek low @ 32'950 with a weekly closing below the clouds @ 36'294. Ongoing price action is showing a recovery attempt, the BTC being, currently, again in the bottom of the clouds and facing the first significant level to break, which is the weekly Tenkan-Sen @ 41'279, (very important level, already mentioned several times in my previous analysis !) The weekly clouds are very thick (40'118 - 50'550) and therefore should be seen as a difficult area to break straight away...Mid Bollinger Band @ 42'407 will also be an important level to watch at and also consider as a barometer or pivot level for further development. IRONMAN8848. - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
BTC - ON THE RAZOR'S EDGE !!!WEEKLY (W1) The last weekly closing was @ 39'691, just below the bottom of the weekly clouds support area !!! As already mentioned several time the CLOUDS SHOULD NEVER BE UNDERESTIMATED on both sides, either on the UPSIDE as a RESISTANCE area and on the DOWNSIDE as a SUPPORT area. Therefore, ongoing price action which will take place this week will be very important to monitor very closely and most important its weekly closing which will either validate or invalidate this downside breakout, which if confirmed will put the focus on lower levels. DAILY (D1) TRIANGLE PATTERN , in progress to breakdown (wait for the first confirmation of today's closing - target 37'235, ahead of the primary uptrend support line, currently @ 36'379. RSI should be watch also closely as there is potentially a BULLISH DIVERGENCE in progress too !!! LAGGING LINE is also attempting to cross under the daily clouds bottom level. In order to invalidate this triangle pattern, the BTC should at least, firstly recover and hold on a daily closing basis above 39'750 and secondly, quickly reenter in the clouds area. 4 HOURS (H4) As for D1, watch closely RSI price action and especially next H4 closing which, potentially, may trigger a RSI bullish divergence. 1 HOUR (H1) No RSI bullish divergence detected yet ; for the time being this indicator is still converging to the downside, meaning that any reversal should be seen as a corrective move only. As already mentioned in D1, a recovery above 39'750 in this hourly time frame would, temporary, neutralise the ongoing downside risk Your comments are welcome. Have a nice week and all the best IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTC- DAILY - STILL IN THE CLOUDS...WEEKLY (W1) Upcoming weekly closing may or may not give more clues for next week price action... Indeed, THE BOTTOM OF THE CLOUDS ZONE SUPPORT has been, during this week, briefly broken but, so far, the BTC managed to hold in the clouds; therefore, as you can easily imagine, a WEEKLY CLOSING, below the bottom of the clouds @ 39'885 would, once again, be seen as a NEGATIVE SIGNAL in this WEEKLY TIME FRAME , putting the focus to the TRIANGLE (in progress) target @ 37'235 ( see daily comments below, ) ahead of the weekly ongoing uptrend support line around 36'350. KEY STRATEGIC PIVOT LEVEL (WEEKLY) : 28'600 Being both the former low reached in June 2021 and more important the TRIGGER LEVEL OF THE MAJOR DOUBLE TOP IN PROGRESS !!! On the upside, a weekly closing above 41'279 or event better above MBB @ 42'872 would neutralise, for some time, the ongoing downside risk. Please note the large thickness of the clouds (39'895 - 50'551) which means, resistance area very difficult to break ! RSI below 50, @ 45.05 and LAGGING LINE in the middle of the clouds. DAILY (D1) Currently traded in the middle of the ongoing TRIANGLE PATTERN IN PROGRESS and still in the bottom zone of the daily clouds support area. As mentioned yesterday, the implication of the triangle breakout would trigger a move of 2'339 points, targeting respectively : UPSIDE : 43'659 DOWNSIDE. : 37'235 RSI below 650, @ 41.31 LAGGING LINE below both KS and TS. Interesting to note that in this DAILY time frame, the level of the T enkan-Sen (@ 41'334) match roughly with the level of weekly Kijun-Sen @ 41'279 , that is why this resistance area should not be underestimated. 4 HOURS (H4) Still moving sideways in a narrow trading range, below the Mid Bollinger and more important below the very thick clouds resistance area (40'698-43'209) ! 1 HOUR (H1) Monitor and watch price action around the clouds which are becoming very thin, meaning fragile on both side... Have a nice Sunday. Take care IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
BTC-TRIANGLE ! 43'659 & 37'235...Looking at the DAILY picture, we can see a TRIANGLE PATTERN IN PROGRESS, with the breakout levels , currently and respectively : @ 41'320 on the upside and @ 39'574 on the downside I MPLICATIONS ON A DAILY BASIS CLOSING LEVEL : upside breakout : TARGET @ 43'659 (currently the Mid Bollinger Band and the Kijun-Sen) downside breakout out : TARGET @ 37'235 (currently, roughly the ongoing weekly uptrend support line, starting @ 32'950, low reached in January. RSI , below 50, @ 41.44 LAGGING LINE attempting to hold above both KS and TS Continue to monitor closely price action and especially, WATCH THE CLOUDS !!! 4 HOURS (H4) Caught in a relatively narrow trading range which confirm growing uncertainty about further development. Currently attempting to upside breakout the Kijun-Sen with difficulty... successive small candles !!! RSI also below 50, @ 46.23 LAGGING LINE far below the clouds and still below both TS and KS Last but not least the 4 hours clouds resistance area is very thick (41'468-23'338) which means very strong resistance zone which should be broken to really confirm a reversal. 1 HOUR (H1) Currently attempting to breakout the clouds to the upside without great success for the time being... On this hourly time frame, watch the clouds too (40'255 - 40'570) as a sustainable breakout of one of those levels would give the direction for further short term price action. Do you like my analysis ? ifYES, please do not forget : 1) to like it 2) to add Ironman8848 on your following list (if it is not done yet :-) Have a great long weekend and have fun All the best Take care IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
bBTC-CAUGHT BETWEEN CLOUDS AND KIJUNSEN DAILY (D1) The BTC is caught between two important levels, which are : on the downside, the DAILY CLOUDS SUPPORT ZONE (39'900-40'100 on the upside, the WEEKLY KIJUN-SEN (in overlay in the daily chart ) Therefore, ONLY A CLEAR AND SUSTAINABLE BREAKOUT OF ONE OF THOSE LEVELS WOULD SHOW THE NEXT DIRECTION. WEEKLY (W1) In this regard, the upcoming weekly closing level, would also be important for further development in the weekly time frame as the weekly clouds bottom level, also coincides with the important and psychological 40'000 support level . 4 HOURS (H4) The 4 hourly KIJUN-SEN, act perfectly well as resistance level so far (currently @ 40'816) and should still be seen as a good leading intraday indicator for further development. The BTC is currently in this time frame, below bot MBB and KS , which should be seen as the first resistances levels to break before the Kijun-Sen, slightly higher. 1 HOUR (H1) After having filled the 50% Fib ret @ 41'334, in reaching yesterday, an intraday high @ 41'557, the BTC failed to maintain its upside bias and went down in falling, again, below the hourly clouds and below the MBB , which is currently under upside breakout attempt. The HOURLY CLOUDS AREA (40'415-40'936) remains the zone to watch at very carefully as short term resistance zone and on the downside, monitor the former double bottom lows slightly above the 39'000 area. IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
5
BTC-WATCH THE CLOUDS-D1 and W1 !WEEKLY (W1) Last week price action triggered a LONG BLACK CANDLE (BEARISH SIGNAL) which managed to close above the Tenkan-Sen @ 41'279. The ongoing candle, firstly broke, yesterday, the TENKAN-SEN and went lower towards the bottom of the weekly clouds which act, for the time being as support.. In order, in this weekly time frame to neutralise the selling pressure, the BTC needs, at least to recover above the former support (Tenkan-Sen) @ 41'279; this would be the first step of a potential recovery. A failure to do it on a weekly closing basis, would keep the focus on the bottom of the weekly clouds (@ 39'895) ahead of the next significant support @ 36'425 (former primary support trend line and monthly KIJUN-SEN. DAILY (D1) The cross-under 41'279, as expected and mentioned in my last analysis (see related ideas) triggered a downside acceleration in breaking in its way the psychological 40'000 support level in making an intraday low @ 39'218. A natural pullback took place, attempting to recover above the former support (daily thin clouds), currently 39'900 and 40'100 RSI @ 37.70 LAGGING LINE attempting to stay above both KS and TS. 2 SCENARIOS COULD BE SEEN FROM NOW : 1) BULLISH A successful breakout and a daily closing at least above 40'000 would neutralise "temporary" the ongoing downside risk calling for lower level; nevertheless, such kind of price action should be confirmed by an upside move continuation at least above the middle (40'841) of the yesterday's long black candle (bearish), which if seen, would trigger a PIERCING LINE , (1st bullish signal), A much bullish signal would be given by a daily closing above both the Kijun-Sen @ 41'279 and above the yesterday's opening level @ 42'159, which if achieved would trigger a BULLISH ENGULFING . a pattern which should be seen more powerful than the Piercing line previously mentioned. 2) BEARISH If the ongoing pullback attempt fails and do not achieve to recover above the levels above mentioned in the bullish scenario, then the focus will switch firstly towards the secondary support trend line (minor support) around 39'000 ahead of the more important support of 36'425 being firstly the monthly KIJUN-SEN and secondly the primary support trend line. CONCLUSION : Once again the CLOUDS and LAGGING LINE will give the answer !!! 4 HOURS (H4) Currently far below the clouds and also below TS, KS and MBB In this 4 hours time frame, it looks like any recovery should be seen as a corrective move only in an established ongoing downtrend and any rally should be considered as a better selling opportunity. It is not a surprise to see that the H4 TENKAN-SEN @ 41'334, coincides roughly with the Daily TS @ 41'279 previously mentioned as an importance new resistance to break in order to neutralise the ongoing downside move; therefore, this resistance area corroborate the daily view and as long as the BTC does not achieve to recover and hold at least above 41'279, the picture will remains bearish. 1 HOUR (H1) Currently above TS and facing the Mid Bollinger Band resistance @ 40'251 ahead of KS @ 40'793 No RSI bullish divergences detected yet in this H1 time frame which mean, for the time being corrective move and not trend reversal yet !!!! Last but not least the hourly clouds resistance are @ 42'613 (twist). IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
3
BTC-DAILY-YESTERDAY'S CLOSING BELOW KS!DAILY (D1) Second daily closing in a row below the KIJUN-SEN (KS) ! As mentioned in my yesterday's analysis, a failure to recover and close above the KIIJUN-SEN, which is now @ 43'549 would increase the risk for further downside in putting the focus for the next support area around 41279, being the weekly TENKAN-SEN (or conversion line) , ahead of the psychological 40'000 level which also coincides with the daily clouds (very thin !) support area. Once again, THE KIJUN-SEN remains the KEY PIVOT LEVEL TO THE UPSIDE and as long as the BTC remains below this level, the downside riks will remain. A successful recovery (daily closing level) above the KIJUN-SEN would reopen the door for the CLUSTER of MBB and TS , currently @ 44'800 ahead of the ongoing downtrend resistance line around 45'750. RSI below 50, @ 45.29 and LAGGING LINE moving above the clouds in a sideways mode. CONCLUSION : 2 levels to watch UPSIDE : 43'549 DOWNSIDE : 41'279 4 HOURS (H4) Currently caught, in this H4 time frame, between the Tenkan-Sen @ 42'510 in support and the Mid Bollinger Band @ 43'028 RSI @ 39.07 and Lagging line moving in a sideways mode. Consider MBB as a good barometer which worked perfectly well so far. 1 HOUR (H1) No change in my view, monitor and watch closely at the CLOUDS, in resistance for now and watch the former short term double bottom reached before yesterday (bottom 1) and yesterday (bottom 2) around the 42'000 support area. Double bottom trigger level @ 42'645, filled and moved higher towards an intraday high of 42'900 before currently coming back (pullback) towards the double top trigger, which also coincides with the H1 Mid Bollinger band. A failure to hold and close on H1 basis above 42'645 would put the focus again to the 42'000 area first. Looking briefly at the ongoing weekly picture , we can see the BTC, currently is still below the Mid Bollinger Band @ 43'746 and roughly in the middle of the weekly clouds support area. RSI @ 47.61 and LAGGING LINE below both TS and KS and below the MBB too. A failure to close on a weekly basis above the KIJUN-SEnN @ 41'279 would give an additional BEARISH SIGNAL, callng for lower level towards the bottom of the weekly clouds support @ 40'000 /38'000. Have a nice Sunday and take care and have fun :-) All the best IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
3
BTC-DAILY-KIJUN-SEN BREAKOUT ...DAILY (D1) Yesterday's price action triggered a long black candle ( BEARISH ENGULFING ) with, and IT IS VERY IMPORTANT, ITS DAILY CLOSING LEVEL (@ 42'290) , for the first time, since a while, BELOW THE KIJUN-SEN !!! This move must not be underestimated and must be taken very seriously. Indeed, the KIJUN-SEN was the last significant support to look at and the breakout of it is confirming further downside in the cards towards the next support level, which will be this time the weekly TENKAN-SEN @ 41'279 ahead of the DAILY VERY THIN CLOUDS SUPPORT AREA (39'854-39'400) slightly below the psychological 40'000 level. Secondary support trend line currently @ 38'739 and primary uptrend support line currently @ 36'225 Watch and monitor ongoing today's price action (pullback) in the direction of the Kijun-Sen recent breakout (actually @ 43'188). In the current environment and in order to neutralise this ongoing downside risk, the BTC should quickly recover and close on a daily closing basis above the KIJUN-SEN , which if it is the case, would at least trigger a PIERCING LINE , (slightly bullish pattern, not as powerful as a Bullish engulfing pattern, but at least a stabilization signal) A failure to do it would be seen as a natural pullback providing selling opportunity (ie selling on rally with a stop loss above 44'000 targeting tactically 40'000 in applying a RR ratio of at least, ideally 1:3). Strategic idea would target 36'225 allowing to increase the level of the stop loss above the ongoing downtrend line resistance in keeping a respective and coherent RR ratio ! As usual watch H4, H1 and shorter intraday time frames to get early signal (s) which will help you to act accordingly in validating or invalidating the DAILY implications previously mentioned. And do not forget, if you like my analysis to like it and for those who do not follow me yet on TRADING VIEW (one of the best charting application available at the moment),https://www.tradingview.com/gopro/?share_your_love=Ironman_8848,please do not forget either to add IRONMAN8848 in your following list. Many thanks in advance for your support. Have a great weekend. IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
3
BTC-DAILY-RECOVERY ? YES OR NO ...WEEKLY (W1) Ongoing price action is showing the BITCOIN , roughly in the middle of the clouds support area (48'517 - 38'152); as long as the BTC is not able to recover and hold on a weekly basis closing above the top of the clouds area, the downside risk is still alive. DAILY (D1) After having reached, yesterday an intraday low of 42'741, the BTC managed, for the time being to hold and close above the important support level (KIJUN-SEN) @ 42'900 , also the 50% Fibonacci retracement of the last rally which started @ 37'567 on March 13th towards a high of 48'234 reached on March 28th. As you can see, on this daily chart , the yesterday's price action triggered a little white candle (very small body) which is showing some lack of momentum, uncertainty and indecision for further development. RSI still below 50, @ 48.61. LAGGING LINE in a sideways mode, still above the daily clouds. UPSIDE : As long as the BTC close on a daily basis above the KIJUN-SEN support line it should be seen as OK and in order to neutralise this still existing downside risk, the BTC needs to rise above, at least the middle of the long black bearish candle@ 44'350 of April 6th, which also coincides with the former downtrend resistance line starting from the former high of 45'850 - MID BOLLINGER BAND (my barometer !) @ 44'771 ! DOWNSIDE : On the other side, a failure to close above 42'900 would be seen as a NEGATIVE SIGNAL, calling for lower levels towards the next support @ 41'641 (61.8% Fib retracement ahead of the very thin daily clouds support area ,(around the psychological 40'000), which is also the 78.6% Fibonacci extension level. 4 HOURS (H4) Below the clouds and MBB and KS . LAGGING LINE below the clouds, KS and TS too. SIDEWAYS PRICE ACTION caught between 42'750 and 44'000. Watch the Tenkan-Sen (43'385) on the downside as first support and MBB (44'590) on the upside as first significant resistance. (Corroboration with the daily view) 1 HOUR (H1) BELOW THE CLOUDS in a sideways mode (H1 clouds resistance area between 43'750 and 45'000 Once again WATCH THE CLOUDS IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
3
BTC-DAILY-KIJUN-SEN IN SUPPORT...DAILY (D1) As expected, the failure to stay and hold above both MID BOLLINGER BAND and the top of the TRIANGLE PATTERN, triggered a downside acceleration towards the next support (42'900) mentioned in my yesterday's analysis in making an intraday low early in the morning @ 42'741. The 50% Fibonacci retracement @ 42'900 of the 37'567-48'234 rally has been filled and after this decline it is likely to see some technical natural rebound which is expected in the current bearish environment to be relatively limited. Indeed, in order to neutralise the ongoing and persisting downside risk, the BITCOIN should now, at least recover very quickly above the former support area (44'500) which became now the new resistance to cross over and hold above it; slightly above, the next level to watch at very carefully is the TENKAN-SEN (or conversion line) @ 45'237 which worked, as you can see perfectly well in the past either as a support or as resistance (meaning BULLISH above and BEARISH below !) A failure to close on a daily basis above 42'900 would confirm further downside in the cards , calling for lower levels towards 41'641 (61.8% Fib ret) ahead of the psychological 40'000 area which also coincides with the very thin DAILY CLOUDS AREA... RSI below 50, @ 47.35 LAGGING LINE failed to stay above the triangle resistance line and crossed under ! 4 HOURS (H4) Far below the clouds; below MBB, KS and TS too ! RSI in oversold territory,,, and may stay for a while in this mode (check potential bullish divergence ! LAGGING LINE also well below the clouds and TS and KS In order to neutralise this ongoing downside risk in this H4 time frame, the BITCOIN should at least recover and hold on a H4 closing basis above TS (44'428) 1 HOUR (H1) Below the clouds, TS, MBB and KS, RSI in a OVERSOLD TERRITORY, but NO BULLISH DIVERGENCE DETECTED YET. WAIT FOR THIS FIRST SIGNAL WHICH COULD POTENTIALLY TRIGGER A DOUBLE BOTTOM FORMATION AND AT LEAST A SHORT TERM RECOVERY In this hourly time frame, a recovery above the KS, currently @ 44'159 would temporary neutralise this ongoing downside risk and if such kind of price action occurs it should be confirmed by the breakout of the H4 TS @ 44'428 previously mentioned in H4 analysis. Do you like my analysis ? Do you think it bring you additional value to your trading activity ? If your answer is YES, please do not forget to like it and for those who do not follow me yet on TRADING VIEW (the best charting application available at the moment)in adding IRONMAN8848 to your following list. Last but not least for those who do not have access to TRADING VIEW, please sign up on the following link (several plans available from basis, free of charge to more sophisticated, against payment) : www.tradingview.com IRONMAN8848 - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
Wave Analysis with ichimoku USDCAD1️⃣ From the point of view of the weekly time frame, the line trend is not clear yet and is still sideways in a fairly stable range. 2️⃣ With the d1 time frame chart, we can analyze a balanced pattern on both x, y axis. According to the Western wave pattern analysis method, this is called the ABCD pattern, in which the sides AB=CD. However, if we look at it from the perspective of ichimoku, we will call this wave N. But the difference in ichimoku from the western pattern PT is the analysis of the balance of the X axis (time). After creating balance, the price line is likely to reverse at point D or at the end of wave N.
Long
by Shin_ichimoku
BTC - DAILY - WATCH MBB !DAILY (D1) The yesterday's failure to hold above both ongoing uptrend support line and the TENKAN-SEN triggered a downside move which pushed the BTC towards a low so far @ 44'419, having tested during the night both the MID BOLLINGER BAND support and the former downtrend line (top of the triangle pattern !) Ongoing today's price action will be important and especially its daily closing level; indeed a closing above 44'500 would keep live the TRIANGLE (pullback consolidation) and a closing below would add more trouble putting the focus on lower levels towards the 42'900 (KIJUN-SEN) % 50% Fib re t 37'567 - 48'234) RSI on a downside move mode and LAGGING LINE too ! In order to neutralise this ongoing selling pressure the BTC should at least recover and hold above the TENKAN-SEN @ 46'186 on a daily closing basis ! which if occurs would trigger a bullish engulfing pattern. 4 HOURS (H4) Currently below the CLOUDS which are very THIN, meaning also very fragile on both side ! Currently the top of the H4 CLOUDS @ 45'958 coincides roughly with the level to break on the daily chart and globally corroborate the global picture. Watch the clouds as a failure to recover and hold above it would increase the selling pressure towards the next support levels previously mentioned in D1... 1 HOUR (H1) Below the CLOUDS too; currently trying to recover above the TENKAN-SEN (@ 45'267). A successful breakout on a hourly closing basis of this level would open the door for 45'810 (KS) ahead of MBB @ 45'955 (also top of the H4 clouds) No bullish divergence detected yet suggesting that recent and current short term price action is, for the time being, corrective only... IRONMAN8848. - Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848