4-hour timeframe
Overview:
New buy signal is formed, however, the Bollinger Bands converged, thus indicating the flat. In this case, until the lines start to diverge, the Ishimoku signals can be ignored. In case the lines start to diverge up, it is recommended to wait until the price is above the Ishimoku cloud, as it will confirm the buy signal. If the Bollinger Bands are diverging and directed down, it is recommended to wait for the sell signal. The Chinkou Span is below the price curve, thus indicating the bearish sentiment. The Bollinger bands show the sideways movement in the narrow range, the lines converged and directed sideways. The MACD is ascending, testifying about the current correction.
Trading recommendations:
Currently, it is recommended to wait until the situation becomes clear and the Bollinger Bands start to diverge.
In addition to technical image, one should take into account the fundamental data and the time of their release.
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.
