Hi all - this is my first time having a go at an Ichimoku Cloud analysis, so please give your feedback and some advice. Everything I write below could all be totally wrong!
I'm trying to understand the Ichimoku Cloud chart and have given it a go on the Motif Bio (aim) chart.
This share has a high of about 45p in October last year, then hit a double low of 30p, then 32.5p in December.
It is now rising and (hopefully) looking positive. Today the price is about 42p and I am looking at the Ichimoku Cloud for some ideas.
The 4 hourly indicates to me that the conversion line in blue is above the base line in red - indicating a bullish trend.
I also believe that the cloud changing from red to green is also a good bullish trend.
However, when I changed the time period from 4 hours to 1 day or a different time period, the cloud didn't look so bullish.
What are your opinions on this? Advice would be very welcome...
Cheers,
Mono.
I'm trying to understand the Ichimoku Cloud chart and have given it a go on the Motif Bio (aim) chart.
This share has a high of about 45p in October last year, then hit a double low of 30p, then 32.5p in December.
It is now rising and (hopefully) looking positive. Today the price is about 42p and I am looking at the Ichimoku Cloud for some ideas.
The 4 hourly indicates to me that the conversion line in blue is above the base line in red - indicating a bullish trend.
I also believe that the cloud changing from red to green is also a good bullish trend.
However, when I changed the time period from 4 hours to 1 day or a different time period, the cloud didn't look so bullish.
What are your opinions on this? Advice would be very welcome...
Cheers,
Mono.
Comment:
Well - so far, nothing like my idea has happened. It's just been shifting sideways...