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A Little Background
The full name of ichimoku analysis reveals its relative simplicity and utility: ichi-
By Brian Dolan
moku kinko hyo translates into one glance equilibrium chart and is also frequently
Dec 07
Kumo/cloud
Jan 08
Tenkan/conversion line
Kijun/base line
Senkou span A/leading span 1
Senkou span B/leading span 2
Chikou/laging span
Ichimoku charts consist of five lines, two of which form the cloud, kumo in Japanese. Crossovers
of the lines and price breaks of the lines and cloud generate trade signals.
Source: ProSticks
component.
term indicator.
Trading Signals
Ichimoku charts provide a wealth of informa-
below them.
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to the downside.
Sep 07
Oct 07
Nov 07
Dec 07
Jan 08
Feb 08
110.0
107.5
30
09
21
31
12
24
04
16
26
07
19
29
11
21
04
16
24
102.5
100.0
97.5
95.0
days later.
92.5
18
90.0
87.5
01
Ichimoku in action. Despite the highly volatile trading conditions in late 2007, ichimoku charts
identified key support and resistance levels in AUD/JPY, one of the carry trades that was
unraveling. Looking ahead, the thick cloud extending into the future suggests a large resistance
zone hanging over the outlook, keeping focus to the downside.
Source: ProSticks
closing basis.
but I held a fundamental view that ongoing financial market volatility, which had led to sharp
Dec 07
Jan 08
118.5
117.0
result in a failure.
115.5
114.0
112.5
111.0
109.5
108.0
106.9
05 07 09 13 15 19 21 23 27 29 03 05 07 11 13 17 19 21 26 28 02 04 08 10 14 16 18 20 22 24 26 28
Source: ProSticks
A New Tool
their clouds.
want ichimoku!
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