Simple signal and example long position
Updated
RSI could cross the center line within the coming week and with the Ichimoku cloud having turned green on the first of march a bullish trend shift could be emerging. The only detriment to this projection is the height of the MACD. If it breaks off the signal and downturns the price could follow and return to bearish.
The long position on the chart is an example of a trade and not a recommendation or mandate.
~ This does not constitute as financial advice but is an idea and projection of future price movements without a recommended course of action ~
The long position on the chart is an example of a trade and not a recommendation or mandate.
~ This does not constitute as financial advice but is an idea and projection of future price movements without a recommended course of action ~
Trade closed: target reached
The RSI has reached its mid line. The MACD could be constituted as a clear indicator that the price must drop, since the MACD height is substantial.
I believe however that since the RSI last touched the mid-line in April 2020 there is plenty of room for the price to, at least, reach the value of the April price since when it was above the top-line last was when the price reached it height in January 2020, almost half of the April price.
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