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Tuesday, December 30, 2014

Interesting to see the flat kijun sen on different time frames


I was just having a look at the Nikkei cash chart here and once again we have the flat kijun sen playing an important role. I really find it interesting and I don't know of any other type of chart that can give you so much information at a glance as you can get with Ichimoku charts. These chart snapshots are all at the same time. It is just to show how I use all time frames combined to get a general consensus.

The daily chart has the flat kijun sen and the kumo support. It is testing now so need to see how that support holds.


Here the 4 hr chart you can see there was a cross below the kijun sen and then a small lift back up to test it as resistance. As we can see here the MACD was crossed down so there was a rejection off resistance but there is no kumo breakdown yet.


Here on the 1 hr chart there was two test of the flat kijun sen resistance. Even though the MACD crossed up, the resistance held and there was a rejection back down.


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