- Conversion and Base lines above the cloud, and conversion line reaching upward.
- First time the indicators shown such positive conditions since the 17th Dec.
I'm not a huge user of the but I sure like the concept of it. With several types of indicators all on one page working to confirm each other, the only one that confuses me the most is the lagging line which you are supposed to use as a part of the confirmation. Babypips readers might recall some back-testing results showing that trading on one indicator alone resulted with as the winner, though comparing it to other single indicators probably wasn't a fair competition since isn't just one single indicator but rather a team of them.
Looking at the 3h , it's showing signs of a buy opportunity with the conversion and base lines convincingly above the cloud for the first time since the 17th Dec 17 price decline.
The Japanese came up with the candles, so maybe they're onto something with the clouds? If you try it on Ripple you will see clear buy signals though for upward trending currencies it's probably not a big challenge for the trading system.
Today now the price drop goes first first support, then pieces second support, and closes above it. Let's see if the Japanese were onto something here!