Ichimoku

Jun 15, 2012
15
1
13

Hi friends,
could you please provide your analysis comments on the above chart?
I found it bearish and right time to short; your views please.
 

Hi friends,
could you please provide your analysis comments on the above chart?
I found it bearish and right time to short; your views please.
I would not go short yet:

1. The (future) Kumo is still bullish as far as I can see on your chart.
2. Although the Chikou Span is below the price from 26 periods ago, it it still above Kijun Sen. It could turn and break upwards through price again.
3. Look at the trend lines I draw. Price just bounced upwards from the lower trend line (support).

I would wait until price closed below this lower trend line and place a sell-limit to play the retracement.

BT

 
Jun 15, 2012
15
1
13
I would not go short yet:

1. The (future) Kumo is still bullish as far as I can see on your chart.
2. Although the Chikou Span is below the price from 26 periods ago, it it still above Kijun Sen. It could turn and break upwards through price again.
3. Look at the trend lines I draw. Price just bounced upwards from the lower trend line (support).

I would wait until price closed below this lower trend line and place a sell-limit to play the retracement.

BT

Thanks BT, for the useful reply.
I recently started learning ichi and this was my first trade ( which hit SL).
I had almost forgotten the future kumo. was taking signals based on TK cross and chikou crossing price.
some ppl also wait for chikou to cross the cloud.
do u recommend such a practice?
 
Thanks BT, for the useful reply.
I recently started learning ichi and this was my first trade ( which hit SL).
I had almost forgotten the future kumo. was taking signals based on TK cross and chikou crossing price.
some ppl also wait for chikou to cross the cloud.
do u recommend such a practice?
You're welcome! Yes I do consider the position of the Chikou Span before I enter position. In your chart you can see the Chikou Span has just barely crossed price only. But below the Chikou Span there's a huge space between Tenkan Sen, Kijun Sen and Senkou A & B. That means that a lot can happen before Chikou Span will be below the Kumo. I would not be surprised the Chikou Span breaks through price again upwards, following the bullish trend that I draw.
 
Last edited:
Nov 3, 2010
66
0
16
I use Ichimoku for some time already. It is very useful and works for me oainly on JPY pairs. As for now I can USDJPY h1 chart the price reached the bottom of cloud and it seems like going up from there
 
Mar 26, 2013
1,613
179
73
I use Ichimoku for some time already. It is very useful and works for me oainly on JPY pairs. As for now I can USDJPY h1 chart the price reached the bottom of cloud and it seems like going up from there
The interpretation of the ichimoku cloud was intended by its inventor to indicate an area of potential support/resistance. That the usd/jpy on the hourly has tunneled right through the cloud would suggest there was likely to be more downside or at least, little probability of much upside.

Not that the ichimoku is necessarily useful or correct - but that would be the textbook interpretation of the current setup as I understand it.
 
Jan 15, 2015
53
2
18
fcmforex.com
Four Major Components - ICHIMOKU

Ichimoku is made up of four major components :-

1. Tenkan Sen - It is the sum of the highest high and the lowest low divided by two. The Tenkan is calculated over the previous seven to eight time periods.

2. Kijun Sen - It is the sum of the highest high and the lowest low divided by two. The Kijun takes the past 22 time periods into account.

3.(a) Senkou Span A - It is the sum of the Tenkan Sen and the Kijun Sen divided by two. The calculation is then plotted 26 time periods ahead of the current price action.

3.(b) Senkou Span B - It is the sum of the highest high and the lowest low divided by two. This calculation is taken over the past 52 time periods and is plotted 26 periods ahead.

4. Chikou Span - Last is Chikou, It is calculated using the most recent closing price and is plotted 22 periods behind the price action. Chikou mainly suggests the market's sentiment by showing the prevailing trend as it relates to current price momentum.


Further for any doubts you are free to discuss that also :)
 
Last edited:
Ichimoku is made up of four major components :-

Tenkan Sen - It is the sum of the highest high and the lowest low divided by two. The Tenkan is calculated over the previous seven to eight time periods.

Kijun Sen - It is the sum of the highest high and the lowest low divided by two. The Kijun takes the past 22 time periods into account.

Senkou Span A - It is the sum of the Tenkan Sen and the Kijun Sen divided by two. The calculation is then plotted 26 time periods ahead of the current price action.

Senkou Span B - It is the sum of the highest high and the lowest low divided by two. This calculation is taken over the past 52 time periods and is plotted 26 periods ahead.

You forgot to mention the Chikou span