Ichimoku Power Down

Last Updated: Fri, 22 Jan 2021 10:02:50

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: AK.

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