Hi. I was making a comment in someone else's idea about the Ichimoku indication and thought one point should be dealt with more. So, let's assume something are in a down-trend, candles are flying down from cliff, to the left of Kijun-sen and Tenkan-sen. We can see this on chart 1. At some point the drop reaches some kind of resistance and starts some lateral...
The Tenkan-Sen is 9 period mid-point of high and low price. Highlights short-term price direction via its slope Tenkan-Sen is its own line/indicator but used to calculate leading span A Cross over the Kijun-Sen (Base Line) as a buy/sell signal Use cloud crossover to confirm trend Next Indicator is the Kijun-Sen (Base Line)
A line that represents a 26 period midpoint Price above/below Kinjun-Sen (baseline) confirms recent price momentum to the upside or downside. Crossing conversion line is short term momentum trade signals Tenkan and Kijun cross over multiple times price lacks trend and is choppy Next indicator is the Chikou Span (Lagging Span)
Let 1st 15m bar close 1st bar closed below Kijun-sen, + vol, oversold %R, Red Macd bar Wait for a 23%+ fib pullback retrace 2nd bar 38.2%+ pullback & closed below 38.2% level Enter on open of 3rd bar 3rd bar CLOSE confirmed bearish bias because Volume+, Oversold %R, Macd red bar You find your own SL and TP