ETH/USD finds resistance top of 4Hr Cloud; 6Hr HeffaeClouds+QRsi

15 ก.ย. 2018

Th last ETH move was strong and fought it's way past every intracloud support, but only after first rejecting from that same path and finding it's way through at lower levels. The 4Hr cloud again proves to be one of the most powerful timeframes, the ideal balance between big-picture 8H and Daily, but reducing a lot of the noise seen on :15 and :30 min TimeFrames. One of my favorite charting techniques with HeffaeClouds is to use the :30min overlaid with the 4Hr, or any split of timeframes that helps give construct to a trend / rally / dump.

Once again, I believe that the latest hit on the 4Hour cloud top will be met with a pullback to lower levels before an attempt to break this resistance can be considered. There are several signals supporting this, namely the 4Hour QuantRsi indicator showing a clear-as-day bear div:


And the 8Hour showing very, very strong horizontal resistance at this level:


Remember, the time to get bullish is not at the excursion of a particular move, it is during the regrouping and how it interacts with supports. This entire move up, ETH has had extremely bullish continuation only after finding supports on the same path it just broke through.

Using this same logic we can estimate levels that a pullback from here will stop - It's all in the cloud.

Lets further rationalize this resistance level by looking at the 6Hour:


Use the cloud shapes and interaction with paths on shorter timeframes - watch the :15 and :30 min while the retracement is in progress for a flip to support - OR spread bids along the 4Hour cloud paths that I've circled.

I believe ETH will have some continuation, but the bear div on RSI, tops on 4Hr,6Hr, is ominous!

16 ก.ย. 2018

บันทึก

This play is going well so far.

Now, there are two possible continuation patterns that I see playing out:

First, ideally, ETH makes a move down below 210 and finds support on the 4Hr intracloud path that was already crossed as support at a higher level as described in the above idea, which would also match a pattern I am seeing on the QRsi:


Second, price finds support on the RealTime paths, as a conformation of trend continuation. I'd like to see this on a longer TimeFrame, such as the 4Hour RealTime:



This says that the highest (RealTime Fast) has already been wicked through. My target for RealTime support is ~ 211 - 213