Expect more overall sideways consolidation for just a little while longer.
You can see the recent Kumo bounce off of the Kijun representing the short cycle correction we
experienced last night. If you were long and you held despite the stress, good job!
Over and Out
This is not advice.
I don't need to be right or wrong.
I don't care if the market goes up or down.
Make your Own analysis and trade off of that.
If you have positive, constructive criticism and wish to share Please do.
Agreeing or Disagreeing is not personal and is welcomed in a positive way.
This is not a therapy outlet for venting negativity. Go join a boxing club. I like boxing.
Happy trading everyone!!
The Bounce is on the Tenkansan not the Kijun.
For the purpose of adding contextual fields supporting my TA, I'll say that during the current (slow sideways trend) on the 4h chart, the Blue line is the Tenkansan (first level of support) next is the Kijun (3887 SL) for the next level of support, then the Sekkou Span B and Sekkou Span A which makes up the red cloud. Above the cloud is Bullish below the cloud is Bareish. Inside the cloud is the No trade Zone.
For More info, I suggest a deeper study of Ichimoku before trading on that system. There's a lot more than what I have time to discuss today.
ChaosTrader63 on youtube has some great instructional videos. Paper trading Ichimoku for a few weeks after a week of studying is recommended.
Each line is based on moving averages set at different time intervals and divisions.
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