Ichimoku System indicated buys on AIG at $29.50 and $30.50 two/three days ago.
Current position looks for some potential hesitation in the yellow box zone where Chikou resistance is positioned.
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Ichimoku confirmed a buy on the 1st March, but caution where the Chikou potential resistance lies (yellow box). I would expect to see a retracement at this point
its the first time in two weeks that the SP500 price has penetrated through the cloud on the hourly.
no tenkan crossover yet so technically not even an actual weak buy signal yet but chiku has gone through price and there is a thin cloud here so would seem to be the first serious attempt at a rally. Has it got any legs?
Ichi uses time AND price in determining its levels and thus triggers.
aa, there is a thread on Ichi in the forex forum - buried in that is the understanding of the components and the triggers for trades
tenkan/kijun crossover did happen yesterday when price was above cloud which is a strong buy signal
which it countered with a weak sell signal as they recrossed but has seemed to find some support on the cloud and looking like it might give bulls some fun tonight
40 odd points since I re-opened this thread with a bullish question and then confirmation
overnight we had to wait for consolidation of the gains as shown by chiku (black) steadily drawing closer to price and then finding early support from it
the only warning would be divergence on the RSI (not shown) and some slowing of momentum although that picked up at the end of the(ir) day.
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