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

WEEKLY :

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 !

DAILY :

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)

H1

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

SELL ON RALLY

Ironman8848

Disclaimer :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

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