Analysis:
ETH is still trying to breach above $300, and until that is broken, anyone wanting to go long should hold a minimum position or wait till the price finally breaks above. For now LIMBO is where we're at.
Signal looks to be downtrending for a reset to the upside so this is fairing better for the bulls for the moment.
Foot Note:
-RIGHT CLICK ON IMAGE AND OPEN IN ANOTHER TAB TO SEE FULL RESOLUTION-
When analyzing this chart, you will notice the Slow Stochastics indicator. I find this indicator to be the complete indicator compared to the vast majority out there. Lets explore the terms I will be using. Also use the indicator based on its respective time-frame:
Time-Frame:
1 hour - Lasts 1 hour - Few days
Daily - Last Days - Week(s)
Weekly - Last Week(s) to Month(s)
Term used:
OB - OverBought (above 80)
OS - OverSold (Below 20)
Bullish - Above 50
Bearish - Below 50
Trend - Cross up in both channel line or Cross down in both channel line.
Follow me if this has been helpful, and don't forget to give me an upvote if you feel that this article has helped in some way.
Hi @pok8rok8, I like the graph, but would love it if you would elaborate more on the arrows up and down in the graph. What exactly do they signify? Will continue to upvote if you could expand just a little bit more.
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Hi @attalis, The arrows represent the signal of the Stochastics crossing up or down when in the same direction as the longer-term sentiment. So in this case signal as turned up while longer-term sentiment has shows a bullish bias. I dont show the longer-term as it is something I provide for people who pay me for the tutorial.. But I do put it on my analysis of where the sentiment is from time to time. When both are in SYNC the probability is stronger and low risk. Also if the signal falls above the 80 or below the 20, this is called OB/OS. These conditions also increases probability of the acceleration in price in the direction of sentiment and signal. I should be more consistent with the arrows, but I do skip marking them from time to time. I will make sure to update it daily, Hope this helps.
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