Ripple is about to shift trend on the H4 timeframe if
we see a close above the Cloud, as it is currently trading.
A close above will also create a buying signal. On the
daily chart, price is closing in on the S/R level at 1.13
which today aligns with the Kijun Sen (white equilibrium line).
If price continues higher and cuts through this level, the
Weekly R1 will be the next strong resistance at 1.23.
We see a nice reversal formation on the H4 chart (right).
If price close above the Cloud it is natural to see a retest
of the Cloud, were more conservative Ichimoku traders
will long to catch the trend shift, and the trail the stop
either using Kijun Sen (common) or the lower end of the
Cloud. Supports intraday at 0.98 & 0,935.
Also, I missed to expand the MACD on the left daily chart,
but there is a Bullish Crossing signal as of yesterday which
should add fuel to the upside going forward.
we see a close above the Cloud, as it is currently trading.
A close above will also create a buying signal. On the
daily chart, price is closing in on the S/R level at 1.13
which today aligns with the Kijun Sen (white equilibrium line).
If price continues higher and cuts through this level, the
Weekly R1 will be the next strong resistance at 1.23.
We see a nice reversal formation on the H4 chart (right).
If price close above the Cloud it is natural to see a retest
of the Cloud, were more conservative Ichimoku traders
will long to catch the trend shift, and the trail the stop
either using Kijun Sen (common) or the lower end of the
Cloud. Supports intraday at 0.98 & 0,935.
Also, I missed to expand the MACD on the left daily chart,
but there is a Bullish Crossing signal as of yesterday which
should add fuel to the upside going forward.
