Ichimoku Kinkou Hyou (Itchy Mushrooms)

[kennynah]

so, indeed this ikh is effectively for swing trading, used by fx traders

[blid2def]

Here are the final, intraday 30-min charts for $INDU (Dow Jones Industrial Average), the DIA ETF that tracks the performance of the DOW (1:1) and the DXD inverse ETF that tracks 2x the inverse performance of the DOW. The blue areas represent support / resistance zones created by the clouds.

You can see in the same charts, the forward-looking clouds for the next 2 days. Of course, as you can see in the charts as well, having a thick cloud doesn't mean it's a 100% guarantee that the price will fail to break through the cloud (see: 16 Oct and 17 Oct). In addition, a flat surface of a cloud (usually the Senkou B) acts as a price attractor (as it is a 52-period equilibrium line - look at it as the longer-term Kijun). So there is still hope yet that tonight might see the DOW moving up. There will be some resistance to the move though. If it breaks through, the flat surface becomes a support zone, but a price magnet as well... so a very strong move is required to get away from it all.

$INDU:



DIA:



DXD:

[blid2def]

To complete the story...

[iam802]

Mine shows a slightly different picture (must be the difference in settings).

It is still below kumo. Expect resistant at 9200.

[blid2def]

Of course different lah! Yours is weekly over 6 months... mine is 30-minute intraday over 10 days leh.

The risk with the DOW is that the supports look weak (in IKH). You've to go back to something like 8,000 and 7,470 before you see something resembling a support line (Chikou Span peaks). I posted this last time (see previous page or page before that):



Disclosure: I have bearish positions, so I might not be objective enough in my assessments / analysis.

[blid2def]

Wasting some more braincells on a weekend:

DOW Weekly chart.



DOW Daily chart.

[blid2def]

Yangzijiang, reviewed on 16 Nov 2008 (see this thread/post for context: viewtopic.php?f=16&t=99&p=34004&hilit=Yangzijiang#p34007)



Yangzijiang, reviewed on 26 Nov 2008:

[kennynah]

wow...the chart like magic.... IKH just got +10 points up the credibility meter...

[blid2def]

Correct then I put. Salah I dun put. Like that, I always gain points oni.

[iam802]

Reading kumo is very simple.

kumo is the same as cloud in the sky.

When you see dark cloud in the sky, you can be sure that it is likely to rain and you will face resistance.

So, no matter how optimistic one can be, the dark cloud will be there. The only time it will change is when there is a catalyst to change the 'weather'. You need a very strong wind to blow the clouds away.

But, if there is no wind, then the cloud will stay and rain. The rain can be a drizzle, a heavy downpour or a storm.

Once it is over, things will slowly gets better.

Easy? TCSS only.