From my recent analysis, I missed an important upward trend line.
The intersection between it and Fib. Fan 38.2%, and also Fib. Ret. 38.2%, gave us a strong hint of bullish reversal near 9140
That's why your ability to find evidences are very important for your decision.
In this graph, I still combine the techniques of ichimoku and ADX.
Since the ADX line is still continuing without a hook/turn. We should conservatively concern BTC is still trending. The ADX line however does not indicate the direction of the trend, only the strength of the trend. Now, I moved the default level of ADX from 20 to 30 to see if there is a solid trend. The answer is YES. (again, we don't know the direction yet)
With the help of ichimoku cloud (green), price actions are still above cloud, and chinkou span is also above price actions. We then confirm the trend is upward.
Your SL is set below Fib Ret 50% or say below Kinjun-sen.
As we see +DI was dipping, and the -DI is currently struggling in a very low level. We conservatively need to trade safely for LONG position.
The intersection between it and Fib. Fan 38.2%, and also Fib. Ret. 38.2%, gave us a strong hint of bullish reversal near 9140
That's why your ability to find evidences are very important for your decision.
In this graph, I still combine the techniques of ichimoku and ADX.
Since the ADX line is still continuing without a hook/turn. We should conservatively concern BTC is still trending. The ADX line however does not indicate the direction of the trend, only the strength of the trend. Now, I moved the default level of ADX from 20 to 30 to see if there is a solid trend. The answer is YES. (again, we don't know the direction yet)
With the help of ichimoku cloud (green), price actions are still above cloud, and chinkou span is also above price actions. We then confirm the trend is upward.
Your SL is set below Fib Ret 50% or say below Kinjun-sen.
As we see +DI was dipping, and the -DI is currently struggling in a very low level. We conservatively need to trade safely for LONG position.
