It looks like the people on this platform don't want to learn anything by themselves so they have to watch others to do the technical analysis for them. I must say that Ichimoku Kinko Hyo can look like a very hard indicator to learn, but it's not. Actually by using it you can in just a few seconds pretty much read from the graph everything you needed to know. Please study it and stop consuming bad steemit content. Ichimoku Kinko Hyo works very well in the forex markets and it works pretty stable in the cryptocurrency markets too. It doesn't even matter which timeframe you choose.
This is NEO/Tether chart from Tradingview. Timeframe is 1D (day). As you can see the price movements are still happening in the kumo (cloud). But even if the price action wouldn't be happening in the kumo, but above it, it would still be a very bad bullish signal because the future kumo is red. On the daily timeframe it is very hard to say where the trend is going and we can only speculate now. So let's move to a 4H graph.
In the 4H graph the price is below the kumo, but we can see some green candles going to the kijun sen. However, Kijun sen is in this situation a resistance and we will have to wait what will happen when the candles hit it. It could be a good selling opportunity because everything in this graph is indicating a downward movement. There are no buy signals that I can capitalize on. The NEO graph is a mystery for me now. We just need to wait for better trend signals or to play a sideways game.
I mean this is pretty much it for a daily and 4H graph. You can also draw some lines to have a better entry, but with Ichimoku Kinko Hyo it is not really needed. I would also like to say that I don't see any point in selling crypto. The tech is still very new and cryptocurrencies can be very volatile so it's possible that what I analysed now will not work anymore in the next few hours or days. If I were you I would just wait for a nice bullish trend to buy more.
This post was made to show you that if you have the experiences you can write a post like this in less than a hour. Making technical analyses need to be quick because in the markets you need to react fast. Do you think posts like this one are worth so much that they have to be in the trending tab so often? The answer is no.
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