Ichimoku Cloud Has Alot of Information ( Might Want To Use It)
This is a breakdown of a new TOOL which I came across of late, which you might want to use. You would need to clear off everything on charts except: Price Action & Ichimoku Cloud. I added a Pivots HL for top & bottom exact PA levels.
* This can be utilize as a signal line, minor OR major Support & Resistance line areas, to inform of a future trend change & for entries to start new trades. The Ichimoku Cloud is a great for TRENDING markets & should not be used in times of ranging or narrow side ways trading price action. * On chart (BLUE LINE) or Kijun Line or baseline informs you when it is FLAT, when not to not trade.
*BREAD & BUTTER OF ICHIMOKU CLOUD is: when Tenkan Line crosses above Kijun line- bullish TREND.
when Tenkan Line crosses below Kijun line- bearish TREND.
BUY ABOVE CLOUD & SELL BELOW CLOUD. TREND IS YOUR FRIEND!!! A lot of Information about this very powerful SYSTEM to utilize in trading. The Ichimoku Cloud can be used on any time frames, but higher the time frames means LESS fake outs & noise. I have read that 15 times or higher are the best, with longer TF's better.
* This can be utilize as a signal line, minor OR major Support & Resistance line areas, to inform of a future trend change & for entries to start new trades. The Ichimoku Cloud is a great for TRENDING markets & should not be used in times of ranging or narrow side ways trading price action. * On chart (BLUE LINE) or Kijun Line or baseline informs you when it is FLAT, when not to not trade.
*BREAD & BUTTER OF ICHIMOKU CLOUD is: when Tenkan Line crosses above Kijun line- bullish TREND.
when Tenkan Line crosses below Kijun line- bearish TREND.
BUY ABOVE CLOUD & SELL BELOW CLOUD. TREND IS YOUR FRIEND!!! A lot of Information about this very powerful SYSTEM to utilize in trading. The Ichimoku Cloud can be used on any time frames, but higher the time frames means LESS fake outs & noise. I have read that 15 times or higher are the best, with longer TF's better.