The Market is non-linear it moves in Waves. The Ichimoku Principle like its Elliot Wave counter part is a technical analysis tool that can help us gauge market sentiment and direction at a glance.
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We still have a bearish outlook. The Y wave became slightly extended taking out the supply zone where the market operator knew stop losses would be. Since Ichimoku is a trend following system we wait for the right signal to tell us to buy and sell in conjunction with the three principles.