Continue reading...Still growing amongst the Western and European traders, the Ichimoku Cloud (or Ichimoku Kinko Hyo = One Glance Balance Cloud Chart) was originally developed pre-WWII by a man named Goichi Hosada. Because of the war, his research was halted and then later finished in 1968 whereby he published a 1,000 page, four volume body of work releasing the Ichimoku Cloud to the world under the pen name Ichimoku Sanjin.
Originally built for the Japanese stock markets, the indicator has made its way out of the land of the Eastern sun and into the trading world at large, being applied and used widely in the Commodities, Futures, Options and FOREX markets. Part of its success is its ability to find trends and reversals well before they begin.
The Ichimoku Cloud has several components that give it a lot of versatility and uses. The most unique aspect of the indicator is its ‘Kumo’ or cloud, which offers a unique perspective of support and resistance. Most western methods...
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