TheIchimoku Cloud is a filter for the direction we should trade. Short positions are taken beneath the cloud and long positions above the cloud.
A long trade is proposed when the following criteria exist
1. Price breaks out from the triangle to the upside and above the cloud.
2. There is a retest of the trendline and or cloud.
3. Price should close above the tenken sen.
4. We want to see 2 long bricks before we enter.
The stop loss is beneath the cloud/trendline.
Target is nearby resistance (B).
A long trade is proposed when the following criteria exist
1. Price breaks out from the triangle to the upside and above the cloud.
2. There is a retest of the trendline and or cloud.
3. Price should close above the tenken sen.
4. We want to see 2 long bricks before we enter.
The stop loss is beneath the cloud/trendline.
Target is nearby resistance (B).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.