monoshare

MTFB 4 hour Ichimoku Cloud (noob)

LSE:MTFB   MOTIF BIO PLC ORD 0.01P
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.
May 16
Comment: Well - so far, nothing like my idea has happened. It's just been shifting sideways...
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