Quick Reference :
The Tenkan Sen - red line,
The Kijun Sen - blue line,
The Chikou Span - purple line,
The Senkou Span A - black line,
The Senkou Span B - grey line,
The Kumo - grey shaded area.
Useful resources (free) from the Web:
http://www.freestockcharts.com/
http://www.kumotrader.com/ichimoku_wiki/index.php?title=Main_Page
DJI 30: Medium Term View (or) Week Chart (or) EOW with the Ichimoku Cloud:
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| DJI 30 - End of Week Chart - 13 April 2012 |
1. Senkou Span Cross: Neutral Bullish Signal
2. Chikou Span Cross: Strong Bullish Signal
3. Tenkan Sen/Kijun Sen Cross: Neutral Bullish Signal
4. Kumo Breakout: Bullish Signal
5. The Flat Kumo: Bearish Signal
6. Tenkan Sen Cross: Weak
Bearish Signal (minor)
In our study, we consider as important, the signals of the previous posts, summarized above.
A. Although not an official signal, the Price crossing the Tenkan Sen (red line) is considered as an early warning sign of sentiment reversal. In this case from Bull to Bear.
Bulls are still all over this screen. Bears need to stay below the Tenkan Sen to have a chance of taking this one over.
DJI 30: Short Term View (or) Day Chart (or) EOD with the Ichimoku Cloud:
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| DJI 30 - End of Day Chart - 06 April 2012 |
1. Senkou Span Cross: Neutral Bullish Signal
2. Tenkan Sen/Kijun Sen Cross: Strong Bullish Signal
3. Kijun Sen Cross: Weak Bearish Signal
4. Kumo Breakout: Bullish Signal
5. Chikou Span Cross: Strong Bullish Signal
In our study we also consider as important, the previous signals, summarized above.
B. The Chikou Span (Purple line) Crossed into the Price line and is still just above it.
C. We had Price crashing below the Kijun Sen (blue line). Price stayed below MVWAP and the red Tenkan Sen too, all week.
D. The Kumo breakout although named Bullish and Strong - saw the price retreat to close inside the Kumo.
Bears almost have this screen.
