For those that have been using the Ichimoku Kinko Hyo charting system for any length of time, utilizing the chikou span cross strategy should be like second nature.
Why? Because the chikou span cross is essentially the 'chikou span confirmation' that savvy Ichimoku traders utilize to confirm chart sentiment before entering any trade.
This confirmation comes in the form of the chikou span crossing through the price curve in the direction of the proposed trade. If it crosses through the price curve from the bottom up, then it is a bullish signal.
If it crosses from the top down, then it is considered a bearish signal.
Thus, we already know the power of the chikou span cross via its use as a confirmation strategy.
However, when used within some simple guidelines, the chikou span cross can be used as its own standalone trading strategy with very good success.
Contributor: iSaham.Add to Favorites
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