Ichimoku_Trader
Short

Still a bear but I need a sign...

FX:USOIL   Crude Oil (WTI)
MW
464 12 29
mw
Bullish signs
1. Correcting from that very strong support area
2. "TS" is rising nicely with momentumand has already crossed the KS.
So the guys on the lower timeframes are feeling very happy about this move up ad are still very bullish

Bearish signs
1. the trend is still bearish . To become bullish we have to break the critical level
2. now at strong resistance in the form of the YPP and the future kumo's SSB             and the downward momentum is still strong as we have not yet reached the kumo
3. KS and SSB             are both still bearish .
4. We have not broken the KS reversal level where many bear stops are placed
So the guys on this and the higher levels are just seeing this up move as a correction
Hi! Did you use fib retracement on those correction area?
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Ichimoku_Trader StarGazer23
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StarGazer23 Ichimoku_Trader
@Ichimoku_Trader, okay. How do you spot the critical level on the chart above?
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Ichimoku_Trader StarGazer23
@StarGazer23,

Just use the highest high/lowest low between CS and current price
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StarGazer23 Ichimoku_Trader
@Ichimoku_Trader, okay thanks.
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What is the KS Reversal point?
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Trendline analysis is integrated within Ichimoku...
=====================================

Price action creates pivots above the KS in a down trend and below the KS in an uptrend.

In this case, price has created a pivot above the KS. After the pivot was created price broke the lows. Once it broke the lows, that KS pivot became very very important because the KS is actually our current timeframe trendline and these pivots I just mentioned are actually the extreme levels that are holding that trendline. So breaking them means breaking the trendline.

Most traders know that once a trendline is broken, that could be a sign of a reversal.
The KS Reversal Point is just that.
Maybe I'll do a slide about this ichi feature in the coming days

Good luck
+2 Reply
johndata Ichimoku_Trader
Thank you!!!
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Welcome
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Hi ichimoku trader! I agree and there is an important level 47.90 ( seems an interesting spot to me , the date 03.23.2015 CS couldn't exceed the TS), if oil exceed that, bullish sense surely will improve! thank you for the chart!
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