Price passed from the kumo and DMI confirms strong upward movement. We have buy opportunity. We can open long trades based on a trading signal from Ichimoku indicator. But in such way our entry is near 0.100000 level. It's the strong resistance level and price can bounce from it and drop to the uptrend line. RSI is in the overbought zone and it's an additional confirmation for possible retracement. How we should trade in this market? It's better to wait when price breaks the resistance level and after that returns to Tenkan or Kijun lines. When we get a reversal signal from one of these lines, we'll be able to open long trades above 0.100000 level. Stop orders will have to be below the local swing low. Profit targets for long trades will be at 0.130000, 0.150000 and 0.180000 resistance levels. Also if price drops to the kumo and 0.081000 support level and we get a reversal signal confirmed by RSI, we'll be able to buy with profit target at 0.100000 resistance level. Don't forget that all trades must be opened using just a part of your deposit. Proper money management strategy is the key to stable and profitable trading in long term.
@DLavrov quick beginner question, at this current moment ETC/ETH is near the uptrend line, I'd like to play its long reversal, but I don't understand how to profit into USD. If ETC goes up against ETH, but it goes down paired to USD, do I simply convert my ETC gains to ETH and then convert ETH to USD? Is there a negative impact if it drops against ETC/USD regardless? If anyone has a resource that could explain or can shed light for me I would truly appreciate it. All I can find online is "triangular arbitrage", is that what this would be? Thanks!