6H Ichimoku Cloud Support Zones
Testing new ways to identify support areas with past Kumo clouds - One strategy is to draw diagonal lines over long stretches of flat kumo clouds, supposedly indicating support/resistance zones.
The recent uptrend has just breached a support triangle (hidden) indicating potential bearish activity ahead. If we do indeed go down - this should be a good test on this strategy.
NOTE: One thing I found interesting is the $862 area crossed in to multiple flat Kumo clouds all the way back from early 2014 which should indicate very strong support.
The recent uptrend has just breached a support triangle (hidden) indicating potential bearish activity ahead. If we do indeed go down - this should be a good test on this strategy.
NOTE: One thing I found interesting is the $862 area crossed in to multiple flat Kumo clouds all the way back from early 2014 which should indicate very strong support.
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