Analysis SHIB/USDT on 12H chart + Support and Resistances
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RSI is moving towards 60, which is a bullish signal. Breaking RSI 70 is usually where it gets interesting. The Heikin Ashi indicator is also showing green blocks (indicator below). Which confirms we're in an uptrend.
Supports and resistances are drawn in grey blocks. Currently we are finding resistance from the Ichimoku Cloud. Moving above the cloud and finding support above 4500 is where it will be interesting.
In the chart I am using the Supertrend Ninja indicator, which is a trend-following indicator (Green and red vertical line with arrows).
When the background of the candlestick closes green (vertical line) with an upwards pointing pink arrow. It indicates a possible bullish (up)trend.
With each trade proper risk management is essential. Either I use my script Trailing Stoploss Bottom Activation indicator, visible as orange dots below the candles. Which sends an alert, when current price goes below the previous candle low. Or using my Heikin Ashi Trailing Stoploss Activation, the indicator below with green and red blocks. Or third option, exit when the Supertrend Ninja indicator displays a vertical red line with a downwards pointing black arrow. Remember, the first stop(loss) is always the cheapest stop.
Thank you for reading.
Namasté
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
RSI is moving towards 60, which is a bullish signal. Breaking RSI 70 is usually where it gets interesting. The Heikin Ashi indicator is also showing green blocks (indicator below). Which confirms we're in an uptrend.
Supports and resistances are drawn in grey blocks. Currently we are finding resistance from the Ichimoku Cloud. Moving above the cloud and finding support above 4500 is where it will be interesting.
In the chart I am using the Supertrend Ninja indicator, which is a trend-following indicator (Green and red vertical line with arrows).
When the background of the candlestick closes green (vertical line) with an upwards pointing pink arrow. It indicates a possible bullish (up)trend.
With each trade proper risk management is essential. Either I use my script Trailing Stoploss Bottom Activation indicator, visible as orange dots below the candles. Which sends an alert, when current price goes below the previous candle low. Or using my Heikin Ashi Trailing Stoploss Activation, the indicator below with green and red blocks. Or third option, exit when the Supertrend Ninja indicator displays a vertical red line with a downwards pointing black arrow. Remember, the first stop(loss) is always the cheapest stop.
Thank you for reading.
Namasté
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
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