2021/12/06 15:58 AM – SHIBUSD – D1 – THE TREND IS YOUR FRIEND…

SHIBUSD – D1 – THE TREND IS YOUR FRIEND… by Ironman8848 on TradingView.com


Fifth consecutive black candle…The 61.8% Fib ret @ 0.00003702 has already been filled with an intraweek low
@ 0.00002915 reached last week.

Global picture does not smell good !!!

Indeed on this time frame the pressure remains to the downside !


In an ongoing downtrend move; below the clouds, the Kijun-Sen, the Mid Bollinger Band and the Tenkan-Sen !

RSI below 50 @ 38.00

Only a recovery above the cluster (0.00004174-0.00004356) would neutralise the ongoing downside risk in that Daily time frame

H4 :

Same picture than for the Daily chart ; watch the downtrend line resistance (in red)


Recovery attempt in this time frame; watch Tenkan-Sen on a 1 hour closing basis. A sucessful upside breakout would be the first signal of a tactical recovery with an upside pretty limited towards Mid Bollinger Band ahead of Kijun-Sen



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