ICHIMOKU CLOUD & CURRENT BEARISH GBPUSD CHART!!!
On current 4 hr GBPUSD chart a definite bearish trend is going on & will remain for awhile. If you understand the Ichimoku cloud system/method of trading, it will tell you a lot in a couple of SECONDS, by glancing at chart. Information like the following:
1) Kumo Twist happens 1st- then change in direction soon afterwards.
2) Bearish Trend- Tenkan-sen line (trigger) will cross over Kijun sen line (baseline) = Bearish price action change.
3) Look for Chart Patterns like either Engulfing and/or like noted on chart Pin Bar Chart Pattern at S/R areas.
4) This bearish downtrend,happened at an key S/R area: or as noted on chart 1.45000.
5) Awesome Oscillator on bottom of chart- shows confirmation and/or showing RED & under neutral line.
6) Key Support for now areas noted on chart- if price action breaks areas, then they will become Resistance areas.
*Note: If you like systems, methods that are put right on top of your PRICE ACTION & CHARTS, not on bottom, then this is for you to check out further. This Ichimoku Cloud looks complicated, but with effort & around a week of trading with this--- you will understand the basic's and how & when to START trades. Works better on higher TF's, but can be traded on lower TF's as long as you understand noise and fakey candle issues involved with this Ichimoku Cloud.
This is a trending market system/method, not ranging. (Note) Example: If price action goes down 100 POINTS, this will set you up to capture MIDDLE part or 20-80 part of 100 point run, not all of it. That is what this does for a trader.
*Trade with Trend, keeps trading safe & less risky- finds middle part of a price action run for you to profit from.
1) Kumo Twist happens 1st- then change in direction soon afterwards.
2) Bearish Trend- Tenkan-sen line (trigger) will cross over Kijun sen line (baseline) = Bearish price action change.
3) Look for Chart Patterns like either Engulfing and/or like noted on chart Pin Bar Chart Pattern at S/R areas.
4) This bearish downtrend,happened at an key S/R area: or as noted on chart 1.45000.
5) Awesome Oscillator on bottom of chart- shows confirmation and/or showing RED & under neutral line.
6) Key Support for now areas noted on chart- if price action breaks areas, then they will become Resistance areas.
*Note: If you like systems, methods that are put right on top of your PRICE ACTION & CHARTS, not on bottom, then this is for you to check out further. This Ichimoku Cloud looks complicated, but with effort & around a week of trading with this--- you will understand the basic's and how & when to START trades. Works better on higher TF's, but can be traded on lower TF's as long as you understand noise and fakey candle issues involved with this Ichimoku Cloud.
This is a trending market system/method, not ranging. (Note) Example: If price action goes down 100 POINTS, this will set you up to capture MIDDLE part or 20-80 part of 100 point run, not all of it. That is what this does for a trader.
*Trade with Trend, keeps trading safe & less risky- finds middle part of a price action run for you to profit from.