My first analysis on ETHUSD
This chart combines with indicators: ADX and Ichimoku .
A bullish trend confirmed by ADX line turning on 2017-12-11 23:00. Strong bullish candlestick opened low and break the resistance zone and downward trend line, and finally closed high as a breakout just 4 hours after Tenkan-sen & Kinjun-sen crossover.
We can found the evidences for LONG as below:
After +DI & -DI lines cross-overed UP occurred on 2017-12-11 19:00. These lines later separated in different directions, we then focus on ADX line (>20) to confirm any trending. The answer is YES.
Ichimoku's Chinkou span goes up and ichimoku cloud (26 days projected) goes up. Trending UP is confirmed.
We can't see any resistance by these indicators. Therefore, we take a look on the Fibonacci Fan (bottom chart).
1st target = 621
2nd target = 678
This chart combines with indicators: ADX and Ichimoku .
A bullish trend confirmed by ADX line turning on 2017-12-11 23:00. Strong bullish candlestick opened low and break the resistance zone and downward trend line, and finally closed high as a breakout just 4 hours after Tenkan-sen & Kinjun-sen crossover.
We can found the evidences for LONG as below:
After +DI & -DI lines cross-overed UP occurred on 2017-12-11 19:00. These lines later separated in different directions, we then focus on ADX line (>20) to confirm any trending. The answer is YES.
Ichimoku's Chinkou span goes up and ichimoku cloud (26 days projected) goes up. Trending UP is confirmed.
We can't see any resistance by these indicators. Therefore, we take a look on the Fibonacci Fan (bottom chart).
1st target = 621
2nd target = 678
Trade closed: target reached:
1st target reached, current price action struggles Fib Fan 76.4%
Trade closed: target reached:
2nd target reached.
