How To Trade Weeklys Using The Ichimoku Cloud by Andrew Keene

How To Trade Weeklys Using The Ichimoku Cloud by Andrew Keene

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Salepage: How To Trade Weeklys Using The Ichimoku Cloud by Andrew Keene

Due to the Ichimoku cloud’s ability to include the past, present, and future, it is a very important technical indication. Additionally, it is cost-free and accessible on a broad range of trading platforms. Here are the fundamentals of the Ichimoku cloud in case you’re unfamiliar:

Ichimoku means what it seems on the surface. Is a stock bullish, bearish, or neutral at first glance? Where is a decent place to enter and exit? Let’s examine the elements that comprise the Ichimoku cloud:

Let’s start by examining the tenken-sen (red) line. This line displays the trend over the short term and was computed as follows:

Tenken-sen line is calculated by dividing the highest high and lowest low during the previous nine periods by 2.
This formula’s computation incorporates a Fibonacci retracement. Because it performs better than simple moving averages, it is a useful indicator.
The longer-term trend is displayed by the Kinjun-sen line (green). This line’s computations are as follows:

Kinjun-sen line is calculated by dividing the highest high and lowest low for the previous 26 periods by two.
As a result, the tenken-sen and kinjun-sen lines display the current short-term and long-term tendencies of a market.

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What is forex?

Quite simply, it’s the global market that allows one to trade two currencies against each other.

If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.

If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.

Foreign Exchange
You go up to the counter and notice a screen displaying different exchange rates for different currencies.

An exchange rate is the relative price of two currencies from two different countries.

You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!

You’ve exchanged one currency for another.

Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.

Currency Exchange

Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.

It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.

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