Intro:
Using the Ichimoku Cloud as my trading tool and making a testable prediction about the direction of the price.
Quick definitions:
The Blue line in is Tenkan-Sen (Conversion Line). It’s the midpoint of the last 20 price bars.
The light red (non-thick) line is Kijun-sen (Base Line). It’s the midpoint of the last 60 price bars
The Green (Thick) line is Senkou Span A (Leading Span A).
The red (Thick) line is Senkou Span B (Leading Span B). Both leading spans are plotted into the future.
The green line is the Chickou Span (Lagging Span), and will always lag behind the price; it’s the most recent price, plotted 30 periods back.
8/25/2018 1:49 pm MST
Imgur mirror: https://imgur.com/a/spQGJak
Steemit/USD seems to be seeing some resistance at the Tenkan-Sen (light blue, Ichimoku cloud) and saw previous testing on the Senkou Span A on the 20th and tested it on the 18th a few days prior with the long red candle up to Span A. Further, as we can see there is little volume with steem right now (I added volume in). I suspect in the long run we will see the price move out of the current triangle I have drawn, and continue trading side ways. Currently, the Senkou A and B are projecting for further downward movement. This shouldn't be to unusual given the current state of cryptocurrencies. I think nothing will really change in the next day. It will just continue to trade within the previous days range. I'd really like to see some volume and live back into this crypto.
Prediction:
Since the price is having difficulty breaking over the Tenkan-Sen line I suspect it won't go much above 89 cents.
Prediction: trading sideways for the next 24 hours near 89 cents to 85
Current prediction results:
When I looked at it today 88 cents, as you can tell from the picture. Further, it seems to have been within my previous trading range prediction (84 to 90 cents - pretty big range now that I think about it, might tighten it). I think my last prediction satisfies my rules from Experiment day one
Current prediction rate: 100%
Conclusion:
Feel free to leave feed back, comments, and suggestions on anything - from the rules, to the quality of my TA, to how I could improve, ect.
If you are wondering why I'm doing this or why I'm creating rules or testing my predictions. Follow this link.
If you liked this content feel free to reblog, follow, and comment.
Who is klabboy?
I’m different than some steemians. I have never been be paid to create content (baring likes from fellow steemians), I have never paid for upvotes, and all my content is 100% created by me. Nothing fake, no agenda, just my thoughts, and your comments.
Further, I’m a stutterer, crypto-enthusiast, economics student, data nerd, and outdoors lover. I post mostly on economics, data, personal fun/stories, and crypto. If you have an interest in those things and the occasional random topic, feel free to like, follow, and reblog my content. Hope to hear from you in the comments! Have a wonderful day!
