Ichimoku XVI--kumo
I've been talking a lot about the lack of movement in the USD/JPY and how it is lacked any weekly range. The monthly chart explains, in part, what that is so. I've talked many times how the pair is headed to the low 70.00's. Also, the last time the kijun was so much as touched was in Aug. '08, and that was the only time since the candles fell out of the bottom of the cloud. That does not figure to change soon. So, what is the problem?
We still have a strong proclivity for the bears to have their way, but look where price action is relative to the current cloud bottom. Move up to the future and notice the candle is camped under the cloud, even with its future perspective.
This is why I talk about many times how a market needs to move further against the overall trend, then it has the horsepower that is needed and the predictability for a strong move
This also has something to do with my views on Nifty at Nifty50 Trends.
In other words, we don't just use the current plight of the cloud to determine price action, but we use all its properties. This is what makes it so unique. It has future characteristics to it no other indicator has.
Wait until we get to the chinkou. We will have the present plotted in the past with the ability to tell the future.
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