mjprater

Classic Ichimoku Kinko Hyo Setup

Largo
NASDAQ:GOOG   Alphabet Inc. (Google) Clase C
This is a good setup for a long position based on the Ichimoku. We have Chikou above the kumo and cross-up over price, a Tenkan-sen/Kijun-sen cross-up (its considered a weak bullish cross-up because its below the kumo, however its not the entry signal of the trade), and increasing volume (not Ichi but important none-the-less). All that is left is for a close above the kumo (kumo breakout), and the span A to cross-up the span B (kumo twist). Once we have all of these signals we enter the trade placing the stop below the kumo and exit when the price crosses down the Tenkan-sen line with a full open and close.
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