breakouts, pullbacks, ichimoku cloud.

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This is a self explanatory chart above for finding support and resistance to speculate areas where the market may gravitate towards.

When the ichimoku cloud comes to mind, many assume the indicator is specifically for trend trading. Yes, it is true that it is for trend trading but it has several purposes outside of trend trading. It is a classic textbook indicator for finding present, future and past support and resistance .

As you can see once you can spot out the swing highs ( which is being showed in the chart above) or swing lows if the market is in a bear market. You should be able to easily spot the swings and expect the market to respect the swings support or resistance with a break of the swing high and at times you can find the market to pull back to the swing high or low also known as support or resistance.

That is 4 breakouts of swing highs along with 4 pullbacks on disney in the last 2 years. This type of price action happens all the time on any stock or instrument.

Much appreciated
Your welcome, there's more stuff I know on the ichimoku cloud, i just need certain price formations in order to be able to publish what I've learned.
Price likes to return to the Kijun line which I use as price is then at fair value. It doesn't always hit it exactly and you also have to take into account price action or what your candles are telling you. Equally important the Chickou line 26 periods in the past needs to be confirming your direction, ie price above or below price. Nice chart thanks for the post.
tradingformoney paulyberndt
yea it does, look into ichimoku wave theory, theres about 4 different wave formations for those types of pull backs to the kijun, if you haven't.
I can get the book by hosida on amazon but im having trouble tryng to find someone to translate the whole thing.
paulyberndt tradingformoney
thanks i have seen it on lower time frames where price has consolidated above or below Kijun line and then makes it move. Not familiar with cloud wave theory, interesting.
tradingformoney paulyberndt
yea it goes into depth about the formations of the waves. id go into depth about it but it would be very confusing asap. I think a book by nicole elliot on the ichimoku cloud goes into it a little bit. The library would probably have the book.

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