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Ichimokukinkohyo

ADA/USD - 1 day chart analysisHere is a closer look at this ADA/USD 1 day chart: ADA is in a Ichimoku P Wave (the 2 converging Blue Trend-lines on Chart) on this daily timeframe. This P Wave is potentially Bearish because it is an inverted P. Note that the bottom trend-line of the P Wave is near the 38.20% ($0.430) Fib Retracement level. The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the Mid-Point of the Short-Term Momentum is upwards at the moment. Note that the Conversion Line (Tenkan Sen) is still under the Base Line (Kijun Sen) The Ichimoku Cloud Base Line (Kijun Sen) is indication that the Mid-Point of the Mid-Term Momentum is sideways at the moment. The Ichimoku Cloud Lagging Span (Chikou Span) is indication that Momentum is downwards at the moment. Note that the Lagging Span (Chikou Span) is still under the past price. Note that ADA is still in the Bearish Zone of the Ichimoku Cloud. ADA is still below its Bollinger Bands Middle Band Basis 20 Period SMA for the 1 day timeframe. Note that the Upper and Lower Bands are Pinching inwards at the moment. At the moment of typing this, ADA has dropped below its Least Squares Moving Average (LSMA). A daily candle close below the LSMA would be considered a Sell Signal for this indicator on this 1 day timeframe. ADA is still well below its Longterm Upwards Pitchfork Pattern Median Line and is also below its Lower Yellow Pitchfork Resistance Line. Looking at the entire ADA Chart we can see that the Volume Profile Visible Range Point of Control (VPVR POC) is at $0.041 and we can see the previous huge Volume Cluster from $0.096 to $0.033. This represents the area where the most volume was traded. Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is dropping with the ADX (Orange Line) at 13.988 still below its 9 Period EMA (Black Line) which is at 15.181. Negative Momentum has dropped with the -DI (Red Line) at 19.976 and Positive Momentum has also dropped with the +DI (Green Line) at 17.218. Looking at the Relative Strength Index (RSI) we can see that momentum is downwards at the moment. Note that the RSI (Purple Line) is below its 9 Period EMA (Orange Line) which is a sign of negative momentum strength. Note that the RSI still has plenty of room to drop before entering the Oversold Zone on this 1 day timeframe. If ADA breaks below its P Wave and its 38.20% ($0.431) Fib Retracement level then we may see an eventual drop to its 50% ($0.233) Fib Retracement Level. For the upside, we need ADA to stay above its LSMA and to eventually get back ABOVE and CLOSE a daily candle ABOVE its BB Middle Band with a successful re-test as support on this 1 day timeframe. Looking at this ADA 1 day chart really puts things in perspective, as you can see, ADA spent from March 2018 to March 2019 in the BEARISH ZONE of the Ichimoku Cloud which was then followed by about a year or so of a few rises and falls until March 2020 when ADA rose from $0.017 to an eventual new ATH of $3.143 in Sept 2021. Once this world wide recession and financial/crypto bear market is over be it in a year, 2, 5 or 10 years, eventually the Market Makers will decided that the Path of Least Resistance to Profit is…… upwards! So you have to position yourself ready so you can take advantage of the next parabolic rise up, not just in crypto but also stocks, commodities and indices. This is all my opinion so please do your own research because its you money. I hope this is helpful with your trading and hodl-ing.
BINANCE:ADAUSD
by TradingThroughTheLens
GOLD-IN A WEEKLY DOWNTREND CHANNEL !W1 : Breakout of the $ 1’800-$ 1’780 support zone triggered, as expected and mentioned in my previous analysis, a downside acceleration towards an intra-week low of $ 1’726, in reaching roughly my technical target of $ 1’723. Currently in a downtrend channel with its resistance line @ 1’855. Interesting to note the thickness of the weekly clouds which is becoming very thin between $ 1’790 and $ 1’800. Therefore, an incapacity for the Gold to recover and hold sustainably above the $ 1’800 area would be perceived as a confirmation of the ongoing downtrend calling for lower levels. A weekly closing above $ 1’800 would trigger at least a PIERCING LINE (trend reversal pattern). Follow closely the price action of the Lagging line which is currently below the clouds and which should also recover, at least in the clouds or even better above it, in order to neutralise this ongoing downside risk. D1 : Clear breakout (long black candle) of the $ 1’800 - $ 1’780 support zone on the daily picture. Currently looking to stabilize with the formation of two successive dojis. A new daily closing level above $ 1’750 would be seen as a positive signal (PIERCING LINE). Above the Tenkan-Sen or conversion line @ $ 1’784, would be the next significant resistance level to break ahead of the Kijun-Sen or Base line @ $ 1’804. On the downside, a failure to hold and close above the former daily closing level @ $ 1’736.50 would weigh further on Gold in opening the door towards lower level, below $ 1’700, @ $ 1’673, forme double bottom seen in 2021. H4 : currently in a sideways trading range and above the Tenkan-Sen @ $ 1’738.90. A bullish divergence on the RSI triggered this ongoing recovery with a potential double bottom in progress in this H4 time frame (trigger level @ $ 1’7’48 which is also the MA21 ! Target if breakout validated is @ $ 1’770 which is by the way, also the level of the Kijun-Sen. H1 : currently facing the hourly clouds resistance area between $ 1’740 and $ 1’765 The Lagging Line in neutral mode moving currently sideway in the middle of the candles…
COMEX:GC1!
by Ironman8848
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