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Tenkan

Tricks of Ichimoku clouds. Hi. I was making a comment in someone else's idea about the Ichimoku indication and thought one point should be dealt with more. So, let's assume something are in a down-trend, candles are flying down from cliff, to the left of Kijun-sen and Tenkan-sen. We can see this on chart 1. At some point the drop reaches some kind of resistance and starts some lateral movement of larger or smaller amplitude. Kijun and Tenkan are beginning to squeeze each other, traders are waiting for the long-awaited (after so many months!) of a golden cross, but something else is happening. A cross occurs, but it looks like it is not Kijun-sen piercing Tenkan-sen from below, but vice versa Tenkan sen approaching Kijun has taken and fallen into this line and is looking down. So... Let's remember what the textbook golden cross looks like on Ichimoku? I believe what is shown on screen 2 is exactly that golden cross. Kijun come over in from below Tenkan-sen, and shot through the line. The Tenkan-Sen did not change its horizontal position in this process. Then it is required to see if there are situations, when a golden cross should form, but in fact Tenkan-sen is falling down to the Kijun and the movement is going downward still, and one more cross is formed soon. Voila, the summer 2021 chart of Etherium. This is exactly the situation. Conclusion: Not every Kijun/Tenkan line cross after the big red Kumo cloud is a golden cross. I encourage @norok as a trader whom I have great respect for his work, to comment on these aspects.
BITSTAMP:BTCUSDEducation
by averkie_skila
Weekly Analysis BTC via Ichimoku Good start to the week, We resumed our weekly analysis. Let us look at a glance at the daily chart of BINANCE:BTCUSDT with Ichimoku Kinko Hyo. We use the traditional settings. There are other indicators in the analysis. We have developed and released them Open Source. Trend: Kumo has been green for 16 days and is 1.4% wide. It is thin and looking upward. In concert the situation is bullish. Importantly, the price has crossed the Tenkan and the weekly Kumo and is now on significant price levels. The Kijun Trend indicator has been indicating since January 10 to look for long positions. Heikin-Ashi: The Heikin-Ashi confirm the bullish movement. There are many green candles without shadows below. Supports and resistances: - 25000.00 Fibonacci - 24400.00 Chikou cusps and flat zones of Kijun and Tenkan - 21200.00 Chikou cusps and flat zones of Kijun and Tenkan - 20400.00 Kijun weekly - 20200.00 Chikou cusp level or flat zones of Kijun and Tenkan - 19100.00 Fibonacci - 18400.00 Tenkan weekly For static price levels, the lower right chart plots the Tenkan, Kijun, Senkou Span A and Senkou Span B flat zones on different timeframes, and the Chikou for the daily time frame. For dynamic price levels, the Ichimoku lines can be observed: the Tenkan Sen (short term), the Kijun Sen (medium term) as well as the Senkou Span A and Senkou Span B (long term). Conclusions: The situation is bullish. The Hosoda waves indicate a bullish ABC pattern since Dec. 19, with targets at 17036.6, 19168.25, 20519.6, 21229.9, all hit by price. From a fundamental point of view, there is a lot of focus on inflation. Inflation expectations in the U.S. have fallen, and the pace of rate hikes by the FED is expected to be reduced. Consumers have confidence and it brings a rise in indexes such as the NASDAQ, weakening of the dollar and a rise in the BTC. It is important to assess the close of the week and during the week on the following price structures: - Bullish/Lateral: 21400.00-22400.00 - Bearish: 20400.00 Altcoin Cycle: For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation: - Total cryptocurrency market capital: Increased. - BTC Dominance: Increased. - Price of BTC: Increased. - Alt Cycle Expectation: Decline. Thanks for your attention, happy to support the TradingView community. Indicators used: Analysis Tool Kijun Trend Indicator Ichimoku Support and Resistance Chikou Support and Resistance
by TheSocialCryptoClub
CRUDE OIL FUT- CAUGHT BETWEEN KS AND TS !WEEKLY (W1) The 61.8% Fibonacci retracement @ $ 104.68 mentioned in my previous analysis has been filled with an intra-week low @ $ 101.53, which is the level of the Kijun-Sen or Base line and which worked, so far, perfectly well in rejecting the breakout attempt. The Crude Oil futures is caught between the Kijun-Sen (KS) in support @ 101.54 and the Tenkan-Sen (TS) in resistance @ 109.48. Last week price action showed some uncertainty and indecision about further development for the upcoming week as shown by the shape of the candle. (small body with long wicks... !) The weekly closing level @ $ 107,62 is above the ongoing support trend line, currently @ 105.18 and also above the 21 daily Moving Average @ 105.77 . On a weekly basis, an in order to come back in a sustainable bull trend, the Crude Oil should recover and close above the middle ($114.10) of the long black candle of the week before; indeed, such kind of price action would trigger a PIERCING LINE and would neutralise the ongoing downside selling pressure, once again in this WEEKLY PICTURE ! Looking at the DOWNSIDE, the KIJUN-SEN @ $ 101.54 IS THE SUPPORT WHICH SHOULD NOT BE BROKEN on a weekly basis closing level; indeed, a failure to hold above this level would put the focus on £00'51 which is the 78.6% Fib ret of the $ 92.93 - $ 123.68 previous rally) ahead of $ 92.93 former low of April 2022. DAILY (D1) After having successively marking lower closing levels than the previous one and this during 7 sessions in a row, on Thursday a DOJI took place which has been followed on Friday by a long white candle ( BULLISH ENGULFING PATTERN) Such kind of price action should be seen as a first positive signal calling for a recovery continuation and this despite the fact that no BULLISH DIVERGENCE has been detected yet and therefore should still be seen as a corrective move only, with the following targets : R1 : $ 109.99 R2 : $ 112.61 (very important as it is also the cluster of the Daily Tenkan-Sen and Kijun-Sen !) R3 : $ 115.22 On the downside a DAILY CLOSING BELOW $ 104,25 would put again the Crude Oil in its former daily downtrend. 4 HOURS (H4) Double bottom formation in this 4 hours time frame (trigger level @ 107.29) (Warning of potential BULL TRAP !) as the last candle was a DOJI and therefore should be confirmed for a target of $ 113.05 which is currently the bottom of the H4 clouds resistance area. On the downside, a failure to hold and stay above $ 105.40 (4 hours uptrend support line) would put the focus to $103.00 area (former downtrend line resistance) ahead of former low @ 101.53 1 HOUR After having reached an intraday high of $ 108.49 after the daily closing, the Crude Oil went down and broke its hourly uptrend support line; it is stil above the hourly Tenkan-Sen @ 106.74 and above the hourly clouds support ($106.35 - $ 105.07) A failure to hold above the bottom of the clouds around $ 105.00 would be the first warning signal of a continuation of selling pressure which corroborate the view expressed in H4) IRONMAN8848 - Jean-Pierre Burki
NYMEX:CL1!
by Ironman8848
Bullish Ichimoku Signal on S&P500 FuturesIf S&P500 futures close above 4482 on the close of this 4H candle it will trigger a strong Ichimoku buy signal. The "Sanyaku Kouten" signal is when we have a Tenkan/Kijun cross, Chikou breakout, and Kumo breakout. Watch today's price action and check lower timeframes for entries. We have nearly passed all the hurdles I mentioned in my earlier TradingView idea that would signal a bullish shift in bias. As always, watch lower timeframes such as 1H and 30m to confirm if there is a simultaneous uptrend. We don't have an edge in trading ranging markets, so capturing the trend is important.
CME_MINI:ES1!Long
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
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-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
NQ1 100 MF - WATCH MBB !!!DAILY (D1) Under heavy selling pressure very close to the MID BOLLINGER BAND SUPORT LEVEL @ 14'415 !!! [ A daily closing below this level would open the door for lower levels towards the next very important support @ 14'105 which is the KIJUN-SEN. RSI below 49.24 LAGGING LINE moved sharply down after the failure to cross over the daily clouds.. but still above both the KIJUN-SEN and the TENKAN-SEN .. for how long ??? Yesterday's price action triggered a BEARISH ENGULFING PATTERN (LONG BLACK BEARISH CANDLE) which is confirmed by ongoing today's price action, which is showing a second long black candle currently traded roughly at the bottom of this candle (intraday low being @ 14'446... V ERY IMPORTANT TO NOTE THAT ON THE UPSIDE THE WEEKLY LEVEL OF THE KIJUN-SEN @ 14'855 which also coincides with the TOP OF THE DAILY CLOUDS AREA, did not hold and the breakout of this important support level triggered a downside move acceleration towards the 14'500 area . As mentioned previously, today's closing level will give an important information for further development as a failure to clearly recover above the top of the daily clouds area would continue to keep this ongoing selling pressure live. As usual watch shorter intraday time frames to get clues and intermediate signals which will help you to validate or invalidate the implications above mentioned in the daily time frame. Last but not least, in looking at the weekly picture we can see that the NQ100 is again currently traded in the clouds area .. IRONMAN8848 - Jean-Pierre Burki
CME_MINI:NQ1!
by Ironman8848
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
BTC - UNCERTAINTY AND INDECISION ...WEEKLY (W1) The weekly picture is showing a BREAKOUT ATTEMPT to cross over the top of the WEEKLY CLOUDS resistance area @ 47'407- Wait for either VALIDATION or I NVALIDATION by the ongoing weekly closing level. DAILY (D1) Sideways price action caught in a relatively narrow trading range which is showing some uncertainty and indecision about further development. Yesterday's closing price @ 45'820 was below the TENKAN-SEN (45'925) and today's ongoing price action is showing a recovery attempt above the TS, which today @ 46'167after having been supported by the ongoing uptrend support line, currently @ 45'565 LEVELS TO WATCH (daily closing basis ! : UPSIDE : R1 :46'167 R2 : 47'218 R3 : 48'234 A DAILY CLOSING ABOVE 48'234 WOULD CONFIRM FURTHER UPSIDE TOWARDS THE PSYCHOLOGICAL 50'000 RESISTANCE LEVEL AHEAD OF THE VERY IMPORTANT 50'975 LEVEL WHICH IS THE WEEKLY KIJUN-SEN ! DOWNSIDE : S1 : 45'565 S2 : 44'159 (38.2% Fib ret) S3 : 42'900 (50% Fib ret & KS) RSI @ 61.36, below its uptrend support line and the LAGGING LINE moving in a SIDEWAYS mode. A DAILY CLOSING BELOW 44'650 WOULD PUT IN TROUBLE THE STILL VALID TRIANGLE PATTERN TARGETING 57'620 4 HOURS (H4) Currently roughly IN THE MIDDLE OF THE H4 CLOUDS SUPPORT AREA, caught between the KIJUN-SEN in support @ 45'982 and the TENKAN-SEN in resistance @ 46'391. Watch the upcoming H4 closing to get more clues about further development then watch the CLOUDS and respectively : 46'785 on the upside 44'493 on the downside A FAILURE TO HOLD AND CLOSE ON H4 time frame above the clouds bottom level @ 44'493 would corroborate the implications previously mentioned in D1 1 HOUR (H1) WATCH THE CLOUDS TOO as a good leading indicator in this H1 time frame. The bottom of the clouds coinciding also with the H1 Tenkan-Sen level @ 45'985 ! As usual monitor closely intraday shorter time frames which will help you to catch early signals which will validate or invalidate the implication of the scenario mentioned in longer time frames. Have a nice Sunday (Winter is back in Switzerland...) All the best and take care IRONMAN8848. & Jean-Pierre Burki www.tradingview.com
BITSTAMP:BTCUSD
by Ironman8848
3
BTC-IN THE MIDDLE OF THE RANGE !WEEKLY (W1) Upcoming weekly closing level would be very important to look at, as it will either VALIDATE or INVALIDATE the upside BREAKOUT OF THE TOP OF THE WEEKLY CLOUDS RESISTANCE AREA @ 47'407 !!! The Mid Bollinger Band (MBB) @ 44'555, briefly broken yesterday, worked perfectly well as the support level in this weekly time frame DAILY (D1) Nice recovery seen yesterday ! indeed, after having briefly broken an important support level (see my last analysis below), the BITCOIN managed to reverse, confirming, for the time being the PULLBACK I have been talking about and which for the time being let the TRIANGLE PATTERN ALIVE for a technical target of 57'620 ! Nevertheless, as long as the former high @ 48'234 is not broken on a DAILY CLOSING BASIS, the downside pressure remains... The TENKAN-SEN @ 45'925 should be seen, now as the first support in this daily picture and if you look back, so far has worked perfectly well as LEADING SUPPORT INDICATOR. A daily closing below this level should not be underestimated as that should be seen as the first warning signal for a TREND REVERSAL which should be confirmed by the breakout of the ongoing uptrend support level, currently @ 45'245. PIVOT LEVELS DAILY TIME FRAME : 1) ON THE DOWNSIDE @ 42'900 (KIJUN-SEN) 2) ON THE UPIDE @ 48'234 (FORMER HIGH) BREAKOUT IMPLICATIONS OF ONE OR THE OTHER PIVOT LEVEL : 1) ON THE DOWNSIDE 41'642 (61.8% Fibonacci retracement of the 37'567-48'234 rally) ahead of the psychological 40'000 support level which also coincides with the daily clouds support area. 2) ON THE UPSIDE, psychological 50'000 resistance level ahead of 50'975 (WEEKLY KIJUN-SEN !!!). A crossover this level would confirm further upside towards the TRIANGLE TARGET @ 57'620 4 HOURS (H4) The CLOUDS hold and rejected yesterday the downside breakout attempt; the strong recovery which followed with along white bullish candle 44'734 - 46'739 in 4 hours) crossed over strongly the former ongoing uptrend support line which had been changed to a new resistance level. The BITCOIN is currently traded around the Mid Bollinger Band @ 46'492 and the upcoming H4 closing level may give more clues for further intraday development. On the downside, watch the CLOUDS and the TENKAN-SEN @ 45'731 1 HOUR (H1) Despite a RSI convergence detected at the bottom level (44'244) the BITCOIN managed to recover... and this short term recovery has been validated by firstly the upside breakout of the Tenkan-Sen, the MBB and the KS. Currently above the hourly clouds but already below the Tenkan-Sen (46'661) Watch closely this hourly price action and also shorter intraday time frames to get more clues for further development on both sides !!! Mid Bollinger Band @ 46'140 is the next support level ahead the hourly clouds support area, currently between 46'000and 45'500 Do you like my analysis and do you think it bring you some added value ? If YES, do not forget to like it and for those who do not follow me yet, please do not forget either to add IRONMAN8848 to your following list. For those who do not have access yet to TRADING VIEW (the BEST CHARTING APPLICATION available at the moment - several plan, starting from free of charge with the possibility, against payment to upgrade the basis version - Trust me it is a VERY POWERFUL TOOL :-) Are you interested ? Very simple, sign up : www.tradingview.com Have a look at my Trading View profile to get the link to my private analysis. Have a nice weekend, take care and all the best Many thanks for your support IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTC-DAILY-CRITICAL LEVEL !As expected and mentioned in previous analysis (see related ideas below), after having briefly broken the 48'000 area (intraday high @ 48'234) a correction took place over the last couple of days and went down towards a V ERY IMPORTANT SUPPORT LEVEL (cluster of of the 2 trend lines on both sides around the 44'700 in reaching an intraday low, so far @ 44'244, nearly filling the 38.2% Fibonacci retracement @ 44'159 ! So what next ? Well, as previously mentioned, this 44'700 area should be seen as a very important support level , as a failure to hold and stay above it on a DAILY CLOSING BASIS, would be taken as a NEGATIVE SIGNAL for further development and would open the door for lower levels towards the 43'000-42'700; the 50% Fibonacci retracement of the last 37'567-4'234, being @ 42'900. RSI @ 55.59, below its uptrend support line and the LAGGING LINE crossed under the former downtrend line (triangle resistance line). Currently below the TENKAN-SEN (@ 45'437) and also important to note the DARK CLOUD COVER pattern triggered yesterday with its closing below 45'709, @ 45'517 CONCLUSION : In order to neutralise this ongoing downside price action, the BITCOIN should recover and close later on today at least above 45'437 or even better above the ongoing new downtrend line resistance, currently @ 46'365. Such kind of price action would also confirm this corrective/consolidation move, seen as a PULLBACK towards the breakout (seen on March 27th, long white bullish candle) of the triangle pattern and therefore would also keep alive this triangle formation, calling for higher levels. A FAILURE TO DO IT would put the focus to the 43'000-42'700 area and by the way would put in trouble the activation of the triangle pattern !!! 4 HOURS (H4) Below the Mid Bollinger Band , the Kijun-Sen and the Tenkan-Sen and currently in the middle of the H4 clouds support area (45'476-44'141). RSI sharply down @ 39.77 and LAGGING LINE below both the Tenkan-Sen and the Kijun-Sen. WATCH THE CLOUDS AS A GOOD SUPPORT INDICATOR AND THE TENKAN-SEN (45'934), KIJUN-SEN (46'239) AND MBB (46'868) AS RESISTANCES TO BREAK ! 1 HOUR (H1) The failure to recover above the thin hourly clouds resistance area triggered. yesterday's afternoon this downside move which started above the 47'000 area towards its intraday low, so far @ 44'244. The LAGGING LINE is far below the cluster of TS and KS and also below the CLOUDS ! WATCH RSI , to detect potential bullish divergence ( RSI still converging to the downside for the moment !) In this hourly time frame, a recovery and a closing level on H1 basis above the TS (45'060) would be the first positive signal calling for a potential short term reversal. A confirmation would be given by the breakout of the 46'000 area, neXt resistance being the HOURLY VERY THIN CLOUDS (47'200-47'350 IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTC - WEEKLY- BREAKOUT ?WEEKLY (W1) Last week price action triggered a LONG WHITE CANDLE , usually a BULLISH SIGNAL with its weekly closing level (@ 46'864) for the first time, since the beginning of 2022, above the WEEKLY CLOUDS TOP ZONE (@ 45'937) and also the MID BOLLINGER BAND (45'505). RSI above 50 @ 53.21 and the LAGGING LINE above the weekly clouds with still the TENKAN-SEN as last resistance level to break... In addition the 38.2% Fibonacci retracement @ 46'721 of the 69'000 - 32'950 downside move has been filled and with the top of the weekly clouds in resistance too, we may see some consolidation within the clouds. Should the Bitcoin continue its upside move, then the NEXT KEY VERY IMPORTANT RESISTANCE LEVEL will be @ 50'975 as it is the WEEKLY KIJUN-SEN & 50% Fibonacci retracement previously mentioned. A WEEKLY CLOSING ABOVE 50'975 WOULD DEFINITELY CONFIRM A WEEKLY TREND REVERSAL IN REOPENING THE DOOR FOR MUCH HIGHER LEVELS !!! DAILY (D1) Yesterday's price action has invalidated the RISING WEDGE PATTERN i mentioned in my previous analysis in making an intraday peak @ 47'766 so far. The upside of the BROAD TRIANGLE PATTERN has also be broken for the first time and today's price action and more important its closing level will be very important to look at as it will validate or invalidate the recent upside breakout. RSI @ 69.61 and LAGGING LINE far above the clouds. 4 HOURS (H4) Strong move seen yesterday's evening in one H4 candle (from 44'864 to 46'950) - long white candle) which broke the former high @ 45'137 First significant support to look at in this time frame is @ 46'030 (TENKAN-SEN) ahead of the KIJUN-SEN @ 45'201 and the MID BOLLINGER BAND @ 44'859 1 HOUR (H1) As mentioned in H4 a long white candle breakout the former ongoing sideways channel and crossed over both the KIJUN-SEN and the TENKAN-SEN, which now become the new supports levels to watch at and which are @ 46'815 (TS) and 46'111 (KS): MBB @ 45'792. H1 clouds support area 44'595-44'377 IRONMAN884. & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
BTC-FAILURE TO HOLD AND CLOSE ABOVE 42'524 !DAILY (D1 ) Yesterday's price action triggered a LONG WHITE CANDLE which intraday broke briefly the top of the DAILY CLOUDS RESISTANCE AREA (@ 42'524) but failed to hold and more important to close above it ! Today's ongoing price action is, currently showing the level of the BITCOIN, below the bottom of the daily clouds and below the TENKAN-SEN (41'250) too, with a LAGGING LINE which crossed again below the TENKAN-SEN. The 38.2% Fibonacci retracement @ 42'520 of the 37'169-42'592 recent rally has already been filled , intraday low, so far, being @ 42'054. Next support to look at is the psychological 40'000 level ahead of the 50% Fib ret @ 39'880 and then 39'240 (61.8% Fib ret). RSI currently still above the 50 level, @ 51.10 THE DAILY PICTURE IS SHOWING A BROAD TRIANGLE PATTERN IN PROGRESS ! ONLY A SUSTAINABLE MOVE ABOVE 42'524 (daily closing above it !) (TOP OF THE DAILY CLOUDS RESISTANCE AREA) WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO CALLING FOR LOWER LEVELS 4 HOURS ( H4) Below the H4 clouds and still above both TENKAN-SEN (40'367) and KIJUN-SEN (39'880) and above the MID BOLLINGER BAND (39'609) RSI @ 54.49 and LAGGING LINE in the H4 clouds and already below the KIJUN-SEN. A failure to hold on H4 closing basis above 40'367 would be the first warning signal, calling for further downside towards 39'880 /39'609. 1 HOUR (H1) Above the H1 very thin clouds support area (39'804-39'294) with the KIJUN-SEN, currently under attack for a downside breakout ! Interesting to note the corroboration between the levels highlighted on the DAILY analysis and those mentioned on the hourly analysis Do you like my analysis and do you find it bring added value on your trading activity ? If YES, please do not forget, firstly to like it and for those who do not follow me yet, please also add IRONMAN8848 on your following list. Last but not least for those who do not have access to TRADING VIEW yet (the best charting application available for the moment :-) please sign up in clicking on the following link : www.tradingview.com Have a nice trading day and all the best. Take care. IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
BTC-WARNING...BELOW THE DAILY CLOUDS !Yesterday's price action triggered a NEW LONG BLACK CANDLE which closed below the daily clouds @ 39'175 (intraday low @ 38'590) Currently below both the TENKAN-SEN @ 41'174 and the MID BOLLINGER BAND @ 40460 RSI below 50, @ 44.82 LAGGING LINE testing the KIJUN-SEN ! And last but not least, yesterday's closing was also below the former downtrend resistance (red line !) Today's price action will be very important and will validate or invalidate 2 important things : 1) THE CLOUDS SUPPORT BREAKOUT 2) THE FORMER DOWNTREND RESISTANCE LINE WHICH BECAME THE NEW SUPPORT (PULLBACK) A DAILY CLOSING BELOW 38'500 would confirm further downside towards, firstly the former daily congestion zone around the 37'000-36'700 area ahead of the former lows 34'324-32'950. On the upside, a first breakout of the TENKAN-SEN @ 41'174 would temporary neutralise the ongoing downside risk and then should be confirmed by the top daily clouds @ 42'524 (this latter level has already been mentioned yesterday) 4 HOURS (H4) Currently below : 1) The ongoing downtrend line 2) The Mid Bollinger Band 3) The Kijun-Sen 4) The Tenkan-Sen 5) THE CLOUDS LAGGING LINE TESTING THE CLOUDS SUPPORT AREA AND ATTEMPTING TO CROSS UNDER ! RSI far below 50, @ 28.42 (No bullish divergence yet in this H4 time frame), still converging to the downside Watch the clouds area (39'290-40'635) as a good indicator for upcoming trading hours as an upside breakout of the TOP OF THE CLOUDS (also the KS) would reopen the door for a potential upside towards the cluster of Kijun-Sen (41'961) & Mid Bollinger Band (42'201). As usual, watch shorter intraday time frames to get glues and early signal (such as RSI bullish divergence) which will help you to validate or invalidate the implications previously mentioned in longer time frames. Finally, do not forget to put in place a strict and disciplined RISK MANAGEMENT when you act TACTICALLY in STRATEGICALLY COUNTERTREND (RISK REWARD RATIO depending on your time frame trading action !) IRONMAN8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
1
NQ1 100 MF - PULLBACK FAILURE !DAILY (D1) Yesterday's price action on one hand, above the cluster of TS (14'549) and MB (14'570) but..be careful, the shape of the yesterday's candle ( a doji hanging man , is a warning reversal signal which is also validated by the pullback failure to recover and hold above the former uptrend support line (in green) Indeed, today's ongoing price action is already in progress to confirm this expected downside move (should of course be confirmed on a daily closing basis to validate further downside). There is a very fragile zone (14500-14'250) and a failure to hold above 14'250, on a daily closing basis, would directly put the focus on the 14'000 area (former low and doji) ahead of the intraday low of 13'706 reached on January 24th. RSI below 50, @ 44.24 4 HOURS (H4) Still under the influence of this triangle pattern (technical target @ 12'932) , where, for the time being, several pullback recovery attempts failed, also rejected by the H4 clouds resistance zone. The Lagging line is again, currently below the clouds too. A failure to hold, on H4 closing basis) above the ongoing H4 support trend line, currently @ 14'425 (by the way, also the 38.2% Fib ret) would weigh on the NQ1 and would open the door for lower levels previously mentioned in D1. Watch the clouds as the first significant H4 resistance area RSI slightly above the 50 level, @ 50.13 Do you like my analysis ? If the answer is YES, please do not forget : 1) to like it 2) for those who did not follow me yet on Trading View, please add Ironman8848 on your following list 3) and for those who do not have a Trading View access (the best charting application available at the moment !, please do not hesitate to sign up (different levels :-) , in clicking on the following link : www.tradingview.com Many thanks in advance. KInd regards Ironman8848 & Jean-Pierre Burki
CME_MINI:NQ1!Short
by Ironman8848
1
GOLD FUTURES-W1/D1-PIVOT LEVEL @ 1'919WEEKLY (W1) In a broading sideways price action (1677-1919) and under the influence of a DOUBLE BOTTOM IN PROGRESS ( see related ideas below) Currently above the clouds with a Lagging line above the clouds too ! Global weekly picture is positive, calling for a test of the former high @ 1'919 which should be seen as a KEY PIVOT LEVEL for the next move. Indeed, this level is the DOUBLE BOTTOM TRIGGER LEVEL and a clear breakout and sustainable move above 1'919 would confirm this double bottom formation and open the door for a technical target @ 2'161 (NEW ATH) RSI is above 50, @ 60.04 and is still converging to the upside. Only a failure to stay on a weekly basis above the cluster of 1831-1800 support area would force to a view reassessment of this expected bullish scenario calling for an upside breakout of the former high @ 1'919 DAILY (D1) In an ongoing uptrend channel, above the clouds and in a positive and constructive price action. First significant support to look at on a daily basis closing level is @ 1'845. A failure to hold above this level would be the first warning signal ahead of the MBB (1830) which also coincides with the ongoing uptrend channel bottom line support (corroboration with the weekly view previously explained) Last but not least, MAJOR DAILY SUPPORT being the DAILY CLOUDS (1'831-1'800) 4 HOURS (H4) In this time frame, a potential short term double top is in progress ! Watch and monitor closely the price action on the upcoming trading hours and check RSI in order to get signal of a potential short term bearish divergence. A failure to stay on a H4 closing basis, should be seen, as for D1, as a warning signal for a short term reversal,(tactical countertrend short term trading opportunity) still in a consolidation move in a broad bull trend. As usual, watch at shorter intraday time frame to get early signal (s) which will validate or invalide the implications previously mentioned. Do you like my analysis ? If the answer is YES, please do not forget : 1) to like it 2) for those who did not follow me yet on Trading View, please add Ironman8848 on your following list 3) and for those who do not have a Trading View access (the best charting application available at the moment !, please do not hesitate to sign up (different levels :-) , in clicking on the following link : www.tradingview.com Many thanks in advance. KInd regards Ironman8848 & Jean-Pierre Burki
COMEX:GC1!Long
by Ironman8848
BTC-H4/H1- ONGOING DOWNTREND IN PROGRESS !4 HOURS (H4) Recent price action is showing that, for the time being the top clouds support area (43'325), rejected two successive breakout attempts (43'312 and 43'367) with its H4 closing level, respectively @ 43'650, but directly neutralised by the next white long candle (bullish engulfing pattern) with a failure of confirmation on this potential ongoing upside move. Therefore, there is no change in my view which is to watch in this H4 time frame (on a closing basis level) the following points : UPSIDE. : 44'785 DOWNSIDE : 43'420/43'325 RSI stil above 50, @ 55.10...but still pointing to the South ! A BREAKOUT (H4 closing basis !) OF ONE OF THOSE TWO LEVELS WILL SHOW THE DIRECTION and watch the clouds... 1 HOUR (H1) Copy paste of yesterday's picture... but slightly lower. Indeed the cluster of TS, MBB and KS is moving slightly down and is currently between 44'067 and 43'860 and already within the H1 clouds support zone ! A failure to stay(H1 closing basis) above KS (43'860) would put the focus on the ongoing very short term uptrend support line, currently @ 43'550 ahead of the H1 clouds support bottom @ 43'180 Next support area being the 4 hours clouds (in overlay(green) on this H1 chart (43'325-41'565) DAILY (D1) Still attempting to upside breakout the clouds (currently around the former high @ 45'850 and still supported by the Tenkan-Sen @ 43'712 A daily closing below 43'712 would be the first warning signal of a reversal in this daily time frame towards lower levels (cluster support of MBB (41'527) and ongoing daily support trend line (41'396). Failure to hold above the cluster would put the focus towards the next significant support level @ 39'400 (KS and 50% of Fibonacci retracement of the last 32'950-45'850 with minor intermediate support @ 40'000 (psychological ¨) Do you like my analysis ? If the answer is YES, please do not forget : 1) to like it 2) for those who did not follow me yet on Trading View, please add Ironman8848 on your following list 3) and for those who do not have a T rading View access (the best charting application available at the moment ! , please do not hesitate to sign up (different levels :-) , in clicking on the following link : www.tradingview.com Many thanks in advance. KInd regards Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
2
BTC-H4/H1- AT CRITICAL LEVELS !4 HOURS (H4) Above the 4 hours clouds, supported by the ongoing H4 uptrend support line and currently under the new downtrend resistance line. Watch : Upside : former high @ 44'785 Downside : ongoing support trend line (currently around 43'650 which is also the top of the 4 hours clouds. A breakout of one of those 2 levels will show further direction RSI showing some uncertainty and indecision around the ongoing downtrend line resistance too ! 1 hour (H1) Currently supported on very short term (H1) by the cluster of MBB, TS KS and TS) A failure to stay and hold on a hourly closing basis above this cluster (44'140-44'170) would be the first warning signal of a short term reversal move, calling for the reenter, firstly in the 4 hours clouds (in overlay on the 4 hours chart in green) ahead of the hourly clouds support area, below between 43'250 and 42'900 Looking briefly at the DAILY PRICE ACTION, we can see an attempt to breakout the clouds with a long white candle triggered yesterday, which for the time being is not confirming this yesterday's bullish price action. Watch today's closing level which should give more clues and validate or validate this long white bullish candle seen yesterday. A clear breakout of the DAILY CLOUDS (on a daily closing basis !) would be very positive for further development, opening the door for the upside towards higher levels. Have a nice trading day Ironman8848 & Jean-Pierre Burki
BITSTAMP:BTCUSD
by Ironman8848
2
HERMES-STRATEGIC MEDIUM/LONG TERM BUY !Following the sharp decline (-30.85 %), since the ATH @ EUR 1678.00 reached on December 1st, 2021, the price action triggered an HAMMER (reversal pattern) coupled with a RSI BULLISH DIVERGENCE, which is a first positive signal calling for a trend reversal towards higher levels. Important to also note that a potential DOUBLE BOTTOM is in progress (first bottom having been reached on October 1st, 2021 @ 1'166.50 ! Today's ongoing price action (long white candle) is, for the time being confirming this reversal and a closing level, on a DAILY BASIS, ideally above the Tenkan-Sen or Conversion line (@ 1'257.80) would add further support to this expected bullish scenario. IMPLICATIONS : UPSIDE : Once this first resistance level will be broken, focus will be on the second resistance area (cluster of both Kijun-Sen or Base line (1288) and the MId Bollinger Band-(1298) -"my own Barometer !", for further development (on this daily time frame, BULLISH above and BEARISH below the Mid Bollinger Band (MBB). The ongoing downtrend resistance line (in red), currently around 1'380 would be the next resistance level to look at ahead of the Daily clouds area (currently very thin) and close to the 61.8% Fibonacci retracement @ 1480.50. A clear upside breakout of the top of the clouds would reopen the door for a new attempt of ATH. DOWNSIDE : Former low @ 1'160.50 is the first support to look at and any dips towards this level should be seen as consolidative move in a new uptrend. Main focus will remain on the WEEKLY CLOUDS SUPPORT AREA (1'200-1'025) with intermediate support @ 1'097,00 this level being the 50% Fibonacci retracement of the big rally which started @ EUR 516.00 in March 16, 2020 CONCLUSION : HERMES is a diamond, very well managed and fundamentally exceptional ! Therefore, STRATEGIC LONG EXPOSURE SHOULD BE BUILT FROM CURRENT LEVEL AND ON DIPS AS A REAL VALUE ADDED ON ANY PORTFOLIO.
EURONEXT:RMSLong
by Ironman8848
3