This is the beauty of the Ichimoku trading system. It is highly visual and in this case, does not require one to draw support level to comprehend it. From the Ichimoku chart, we can clearly see that Chikou Span is hitting right onto the bottom of the kumo support. We should expect a bounce. Also,… Continue reading $SPX . Beauty of Ichimoku. Expect a bounce.
From the above Ichimoku Daily Chart, we can see that EUR/USD fails to breakout of the thick kumo resistance. This reflected the issues that the Eurozone is facing. However, we might want to take note that the leading kumo is showing possible signs that the trend may turn. Do note the support from the Tenkan… Continue reading EUR/USD : Kumo resistance and support
Despite the relatively light volume yesterday, SPX ended up and above the Chikou Span resistance. We also have a secondary confirmation outside of Ichimoku. This comes from the Force Index below. From the chart, we can see that the Force Index has turned ‘bullish’ and this may be a good time for a long… Continue reading $SPX : Breaking out