SNX/BTC Weekly vs Daily Charts: Bullish Cloud, Looking to EMA's
A viewer requested a look at the SNX chart. Shown here, the weekly chart on the left and daily chart on the right. The weekly chart shows us an inside bar forming, giving us some good price ranges to be focused on. I'd be hunting for a long entry on a weekly EMA retest.
To get a little more aggressive, I look for longs on the daily EMA supports. The daily chart shows a bullish kumo twist along with price breaking above the cloud. This signal printed several days ago and was a great clue to get in before the USDT chart printed all time highs. It looks like this printed around the same time that the daily ETH/BTC and AAVE/BTC charts printed kumo twists too.
Given the daily ichimoku cloud strength here, I'd lean toward a more aggressive strategy in making an entry while still setting stop loss levels below weekly supports.
To get a little more aggressive, I look for longs on the daily EMA supports. The daily chart shows a bullish kumo twist along with price breaking above the cloud. This signal printed several days ago and was a great clue to get in before the USDT chart printed all time highs. It looks like this printed around the same time that the daily ETH/BTC and AAVE/BTC charts printed kumo twists too.
Given the daily ichimoku cloud strength here, I'd lean toward a more aggressive strategy in making an entry while still setting stop loss levels below weekly supports.