Intro:
Using the Ichimoku Cloud as my trading tool and making a testable prediction about the direction of the price. Unlike the rest of these Chartists I make predictions, test them, and keep you updated on how they went.
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.
8/27/2018 1:17 am MST
Imgur:
2 hour: https://imgur.com/a/BI5sttH
30 min: https://imgur.com/a/7N9arph
30 min
2 hour
On the both the time frames price broke out of both leading spans and both are backed up by some increases in volume. Pushing up to almost one dollar. I suspect we will see some resistance at the $1.00 level for STEEM. Further, on the 30 minute time frame, we see that the Tenkan-sen is acting as a tentative support for the price currently. Ideally, this would continue into the near future. But on the lower time frames the supports don't hold as well.
Prediction:
Prediction: Rises to $1.00 and hits some resistance at that level but doesn't go above a dollar. I suspect a day of sideways movement as it might take some momentum to break through the $1.00 support. So trading somewhere around 94 cents to a dollar.
Current prediction results:
Yesterday I said that "92 cents and 86 cents, hopefully breaking out above 92 and remaining there." When i looked at the price today it was above 92 cents. I'm going to count this as a correct prediction.
Experiment day one - includes my rules
Current prediction rate: 50%
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.
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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 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!
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