If price bounces from Kijun line and RSI confirms price reversal, we'll have long opportunity. Entry level for buy trades must be above 0.130 with stop orders below 0.108 level. Profit target for long trades should be at the resistance level . DMI confirms trend market conditions and allows trading.
Interesting opinion but just wondering why you use this setup for Ichi. You plotted it on 26 periods, meaning it's setup like a stock market, on 26 days (not counting we) but crypto is based on 24/24h and 7/7 trading, which makes a lot of crypto traders putting their ichi on 30 days base. Not you, and i would be really interested in the reason, since I guess you do it on purpose! Thks!
Good Morinig Lavrov!
Thanks for taking time to build this charts and add some very usefull text!
You say that in order to have a long oportunity rsi must confirm price reversal... isn't that already confirmed once rsi crossed down 70% level?
Greetings from spain!
@bitraa, my best wishes to Spain! Thanks for your comment! In order to have long opportunity the market must reach the possible reversal levels. There must be a reversal signal confirmed by RSI or candlestick pattern or MACD histogram and so on. RSI gives good reversal signals/confirmation when: it's reverses and starts rising below 30 level - it's for buy trades and it's reverses and starts falling above 70 level - it's for short trades. So, today we don't have reversal signal and confirmation for such reversal. We have to wait.