- Green lagging line showing possible sideways movements in the meanwhile as it crosses the candles horizontally.
- Pattern so far similar to $1 and $2 milestones.
- The predicting a slightly lower support line later, but a higher second support line.
The price is now approaches the top of the cloud and signals higher support at $2.76 (pink arrow), around the same as the .382 fib level of $2.77/$2.78 (co-incidence?). It needs to stay above this should the price remain above the cloud for an upward trend to re-commence. Looking at the history of recent price surges, it is so far following a similar pattern.
What I'm looking out for now is:
- For the blue line to cross UPWARDS through the red line
- For those two lines to do this ABOVE the cloud.
- For the cloud to continue to act as support lines.
- If the price goes into the cloud, it's not recommended to open any positions (depending on which website you read).
I know many who use moving averages, and over the , so I put them all on the same chart though I left the moving average lines out as it just gets too messy with the .
Looking good so far with this trading system. Let's see how performs with "The Rippling"!
Worked better for bitcoin during the same time span.
I know some others following Ichimoku for Bitcoin and Ripple -> right now shows a big downtrend for at least a couple more months before the support cloud starts rising.
SO, nothing really. I track how Ichimoku works for some of the cryptos. Generally I dont use it but it's of interest!