Santiment vs USD Trade Setup 1-9-18

10 janv. 2018

In this opportunity we are looking at the Santiment vs USD as price has been in a nice rally basically since November 16, 2017. Price is now in a correction and has pulled back to the Tenkan level. There have been many discussions about traders changing the settings due to various reasons when trading cryptocurrencies, but I am using the default settings for the indicator and will continue to use these settings. When we are trading Ichimoku we have built in levels of support and resistance and therefore we can use these levels for trading opportunities. When price is in a strong trend you will see price follow Tenkan or should I say Tenkan will follow price and normally price will not enter the TK Zone unless the trend begins to weaken! It's still a little early to get into a trade or discuss the trade as we have not come to the point where the correction has ended but we will discuss what we see as is. The previous candle is an indecision candle which is showing that the participants atr indecisive and pretty much split at that time. It's a matter of when does the buying pressure increase. I am looking at price holding at the Tenkan and then possibly entering a long opportunity at the top of the indecision level at about 7.48. Our SL currently is not set in stone due to the fact that we have not completed our bottom yet so we have to wait to see if we hold for the true level. Our current trade opportunity is as shown but always remember, Trees that are slow to grow, bare the best fruit! God bless!