ichimoku kinko hyo using the CHFJPY chart
Brief education post while I still have the chance. Or at least a post to share my observations.
(any professionals who regularly use ichimoku, please correct me if I'm wrong)
Ichimoku has a couple parts to it. Conversion line (orange on my chart), base line (blue), the lagging span (black) and the leading spans that make up the cloud (lead 1, I believe is green, and lead 2 is red).
Since the cloud is made up of the leading spans, it can help you make decisions based on what you see coming. The conversion and base follow suit. They both form the shape of the cloud almost exactly, with a lag based on the period you set for it. The lagging span lags behind the market itself.
So looking at the cloud, I believe the market will stay bullish for a while. The cloud is green, so lead 1 is on top - a buy cloud then. But we're coming up to a couple resistance levels. so we'll have to see
(any professionals who regularly use ichimoku, please correct me if I'm wrong)
Ichimoku has a couple parts to it. Conversion line (orange on my chart), base line (blue), the lagging span (black) and the leading spans that make up the cloud (lead 1, I believe is green, and lead 2 is red).
Since the cloud is made up of the leading spans, it can help you make decisions based on what you see coming. The conversion and base follow suit. They both form the shape of the cloud almost exactly, with a lag based on the period you set for it. The lagging span lags behind the market itself.
So looking at the cloud, I believe the market will stay bullish for a while. The cloud is green, so lead 1 is on top - a buy cloud then. But we're coming up to a couple resistance levels. so we'll have to see