A quick look at the FTSE100 Index using the traditional Ichimoku Cloud Settings of 9,26,52,26 and the MACD Indicator.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the Mid-Point of the Short-Term momentum is downwards at the moment.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating the Mid-Point of the Mid-Term momentum is sideways at the moment but that may possibly change to downwards momentum once a significant low is created for the 26 periods.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating that momentum at the moment is downwards. Note that the Lagging Span (Chikou Span) is now under the Price from 26 Periods ago.
At the moment the Price is still in the Bullish Zone of the Ichimoku Cloud but is getting close to the Ichimoku Cloud Leading Span A (Senkou Span A) support level. At the moment of typing this, there is very little distance between the Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) support and resistance levels below the price.
Note that the Leading Span A (Senkou Span A) level is pointing downwards.
Note that the Last 5x Volume Bars have closed above its Volume 20 Period MA in the red.
The Price is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 8x 1hr candles that i have selected.
The Price is still way above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range.
If we look at the Moving Average Convergence Divergence (MACD), we can see that the MACD Line is still under is Signal Line and is indicating momentum is downwards at the moment. Note that the MACD Line as dropped under its 0.0 Base Line into the Negative Zone on this 1hr timeframe and that the Red Histograms are increasing in size. If you are waiting for confirmation to go long, you need the MACD Line to cross back ABOVE the Signal Line creating a Buy Signal for this 1hr timeframe.
Be on the lookout for a break below the Leading Span B (Senkou Span B) level into the Bearish Zone and a successfully re-test of the Leading Span B (Senkou Span B) level as Resistance, after that, full Bearish confirmation on this 1hr timeframe will be when the Leading Span A (Senkou Span A) crosses below the Leading Span B (Senkou Span B) creating a Kumo (Cloud) Twist into a new Bearish Red Cloud.
I hope this is helpful with trading.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the Mid-Point of the Short-Term momentum is downwards at the moment.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating the Mid-Point of the Mid-Term momentum is sideways at the moment but that may possibly change to downwards momentum once a significant low is created for the 26 periods.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating that momentum at the moment is downwards. Note that the Lagging Span (Chikou Span) is now under the Price from 26 Periods ago.
At the moment the Price is still in the Bullish Zone of the Ichimoku Cloud but is getting close to the Ichimoku Cloud Leading Span A (Senkou Span A) support level. At the moment of typing this, there is very little distance between the Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) support and resistance levels below the price.
Note that the Leading Span A (Senkou Span A) level is pointing downwards.
Note that the Last 5x Volume Bars have closed above its Volume 20 Period MA in the red.
The Price is still below its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 8x 1hr candles that i have selected.
The Price is still way above its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range.
If we look at the Moving Average Convergence Divergence (MACD), we can see that the MACD Line is still under is Signal Line and is indicating momentum is downwards at the moment. Note that the MACD Line as dropped under its 0.0 Base Line into the Negative Zone on this 1hr timeframe and that the Red Histograms are increasing in size. If you are waiting for confirmation to go long, you need the MACD Line to cross back ABOVE the Signal Line creating a Buy Signal for this 1hr timeframe.
Be on the lookout for a break below the Leading Span B (Senkou Span B) level into the Bearish Zone and a successfully re-test of the Leading Span B (Senkou Span B) level as Resistance, after that, full Bearish confirmation on this 1hr timeframe will be when the Leading Span A (Senkou Span A) crosses below the Leading Span B (Senkou Span B) creating a Kumo (Cloud) Twist into a new Bearish Red Cloud.
I hope this is helpful with trading.
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