Ichimoku Power Down
Last Updated: Mon, 22 Apr 2019 17:04:39
The Ichimoku Cloud, also known as Ichimoku Kinko Hyo, is a versatile indicator that defines support and resistance, identifies trend direction, gauges momentum and provides trading signals.
Ichimoku Kinko Hyo translates into 'one look equilibrium chart'.
Stocks are classified in a downtrend as long as Senkou Span A is below Senkou Span B and the Close is below Senkou Span A.
A continuation of this downtrend could be starting when price crosses below the Kijun-sen.
Contributor: Azhar Khamaruzaman.
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