- The combination of indicators reveals a good buy opportunity
- Conversion and Base lines above the cloud, and conversion line reaching upward.
- First time the indicators shown such positive conditions since the 17th Dec.
I'm not a huge user of the Ichimoku clouds but I sure like the concept of it. With several types of indicators all on one page working to confirm each other, the only one that confuses me the most is the lagging line which you are supposed to use as a part of the confirmation. Babypips readers might recall some back-testing results showing that trading on one indicator alone resulted with Ichimoku as the winner, though comparing it to other single indicators probably wasn't a fair competition since Ichimoku isn't just one single indicator but rather a team of them.
Looking at the 3h Ichimoku, it's showing signs of a buy opportunity with the conversion and base lines convincingly above the cloud for the first time since the 17th Dec 17 price decline.
The Japanese came up with the candles, so maybe they're onto something with the Ichimoku clouds? If you try it on Ripple you will see clear buy signals though for upward trending currencies it's probably not a big challenge for the trading system.
- Conversion and Base lines above the cloud, and conversion line reaching upward.
- First time the indicators shown such positive conditions since the 17th Dec.
I'm not a huge user of the Ichimoku clouds but I sure like the concept of it. With several types of indicators all on one page working to confirm each other, the only one that confuses me the most is the lagging line which you are supposed to use as a part of the confirmation. Babypips readers might recall some back-testing results showing that trading on one indicator alone resulted with Ichimoku as the winner, though comparing it to other single indicators probably wasn't a fair competition since Ichimoku isn't just one single indicator but rather a team of them.
Looking at the 3h Ichimoku, it's showing signs of a buy opportunity with the conversion and base lines convincingly above the cloud for the first time since the 17th Dec 17 price decline.
The Japanese came up with the candles, so maybe they're onto something with the Ichimoku clouds? If you try it on Ripple you will see clear buy signals though for upward trending currencies it's probably not a big challenge for the trading system.
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The blue conversion line is still far from the red base line, though the green line looks like its about to cross through the candles downwards, and the RSI and MACD are slowly showing signs of a downward trend.
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Ichimoku working well from the 3rd Jan 2018. First drop down on the 4th staying above support.
Today now the price drop goes first first support, then pieces second support, and closes above it. Let's see if the Japanese were onto something here!
Today now the price drop goes first first support, then pieces second support, and closes above it. Let's see if the Japanese were onto something here!