4-часовой таймфрейм
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Overview:
The decline is probably finished and the correction has started. The sell signal has aborted and instead of it a buy signal is formed with a target at 1,4750. Though the signal is weak as the price is below the Ishimoku cloud and below the Kijun-Sen as well. The Bollinger bands do not even show a flat. That is why in the near term we can see a sideways movement. And it is not recommended to trade before the Bollinger bands divergence moment. It should also be mentioned that in the nearest future a sell signal can form but it will need a confirmation by the Bollinger bands divergence. The Chinkou span is above the price curve signaling the uprising trend. The Bollinger bands demonstrate a sideways movement, as the lines are not diverging and directed sideward. So, the flat will continue until the lines are directed to the sides. The MACD is decreasing signaling the current decline.
Trading recommendations:
Currently, it is recommended to wait for the beginning of the Bollinger bands divergence in order to define the movement direction.
The chart annotation:
Ishimoku indicator:
Tenkan-sen — red line
Kijun-Sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with the white bars in the indicators window.
