Hi all
ref to last post last week. Nice touch abender777.
http://www.hotcopper.com.au/post_single.asp?fid=2&tid=877201&msgid=4870614&getNext=1
Thanks to robbbbbbb for starting the thread many weeks ago.
Your popularity continues to grow, deservedly so!
I'm an ichimoku chartist. I will explain the basics and explain as we go.
If anyone would like an ichimoku chart from me, I can chart most instruments, I will find some time over the weekend.
Ichimoku is a Japanese indicator from the 40's. Pre computers.
All mav settings are the highest high and lowest low for the period.
It is to be used as a picture and use all five lines at once.
Red = H + L/2 for 9 periods
Blue (dark) = H + L for 26 periods
Light Blue = Red + Blue/2 moved forward 26 periods
Green = H + L/2 for 52 periods moved forward 26 periods
Brown = price line chart moved back 26 periods
The gap between green and light blue is the cloud.
A bull cloud shows light blue above green, particularly at the right edge.
A bear cloud shows green above light blue, particulary at the right edge.
I have added vertical black lines to show the three areas.
78 periods being;
26 before end of brown,
26 periods between brown and price,
This is my usual format to look at and the following charts will be the same.
For more details read my signature or ask me.
SPX (S&P 500)
Monthly
Bear cloud. Price below all lines.
Price has not greeted red on leaving cloud.
Brown is clear of support.
I will continue posting other time frames (t/f's) tonight.
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