WanchainUpdated WAN consolidating
Observations:
* Noticing how Chikou is also a good indicator of past SR levels (along w/ flat levels in the Kumo)
* Would be great to know how to test for a breakthrough or false breakout (rejection)
* Price has a strong signal when Tenkan makes a sharp right turn through the EMA cloud. Tends to be a bullish continuation in price action.
* Vice-versa if Kijun does it instead—price is weak. Tends to be bearish (short term), as price would most likely go get support from Kijun.
* Kijun tends to resets to the bottom or right-side of the EMA cloud when its a bullish trend; vice-versa
Still new to Ichi, please have patiences and understanding. Feel free to chime in with constructive feedback is something is off. Thanks
* Noticing how Chikou is also a good indicator of past SR levels (along w/ flat levels in the Kumo)
* Would be great to know how to test for a breakthrough or false breakout (rejection)
* Price has a strong signal when Tenkan makes a sharp right turn through the EMA cloud. Tends to be a bullish continuation in price action.
* Vice-versa if Kijun does it instead—price is weak. Tends to be bearish (short term), as price would most likely go get support from Kijun.
* Kijun tends to resets to the bottom or right-side of the EMA cloud when its a bullish trend; vice-versa
Still new to Ichi, please have patiences and understanding. Feel free to chime in with constructive feedback is something is off. Thanks
Note
Observed that S/RSI as well as Stoch Momentum Index can provide some indication if rejection or consolidation.Thoughts/other tips? Thanks
Note
Added date range from Chikou's rejection. Aligns to retracement,Note
Check out the Chikou rejection—with the time of latest consolidation :smiley:Note
Learned about C Clamp patterns in Ichimoku.Another good indicator to not enter a trade as Tenkan and Kijun will be going equilibrium (Tenkan finding its way down near Kijun during a bull trend).
Heres an example recently with WAN 1D
Trade closed manually
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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.