LOL, I think I have been flunking the School of Proper Interpretations lately. Oh well, what do you expect from just a high school graduate?
Points to be consider for long
* Chikou should be above candles
* Tenken should be above kjun
* Cloud positions, where it is?
* ??
Points to be consider for short
* Chikou should be below candles
* Cloud positions, where it is?
Tenken below the kijun.
What you mentioned is all important and the more confluences, the better. You should also keep in mind some of the things we learned about market's cycles. As an example, if the chinkou has been below/ above the candles for a long extended period of time, it might be suggesting it is time to head back the other way. This is where you want to do some cross checking of other TF's.
Cloud position would also encompass the markets' equilibrium. If the candles range too far above/ under the cloud, then again, refer to other TF's do determine a possible reversal.
As price ranges high above or under the cloud, check for key point in the past or future of the cloud. The would include peaks and dips, along with where the clouds has leveled. Those can also be considered to be key S&R's. Once you approach these levels, then once again look at the other TF's to determine possible reversal points.
Another thing that would help is the determination of price action at each level. Look to the west and see where the recent swing high/ low is. If broken, then you are continuing in that same direction.
TL's can also be used. If you get a fresh break, then you know you are headed further in the same direction, then get a correction, and then go even further into the new trend. Once this happens, then you can refer to the ichimoku properties for further confluential evidence and determining a position.
When most of what you see lines up, it's time to take a position. If there are a bunch of mixed signals, stay out.
You will also begin to learn which TF is the more dominant, which is something more intuitive than an be taught. Also, when you learn that, then you can initiate a position based on that TF, then set a TP based on what you see on the next lower TF. I'm saying that because a lot of times it takes about one strong move on the part of the dominant TF to take away its dominance.
I'm sure we know by now the dominant TF is not necessarily the larger one, but if 2 of them carry the same weight in strict view of the charts, then the higher rules out.
There is so much I could say, but just keep asking, and we'll address as we go, and that way it will be based more on what is important to you. If necessary, we can post some live examples or past examples of some of your queries.
Hello 4xpip,
If you look @ query i asked its not related to any market but how can we take decision in few minutes with all summary of rule in one line (without having knowledge as you have
You can take your time to answer on this.
