Can anyone share ichimoku trading knowledge?
Ichimoku is a complete trading system where you can take your Buy & Sell decision (Long or Short) then manage your trade by putting a StopLoss followed by trailing your profit with high accuracy. I have used Ichimoku chart for multi day swing trading with success.
Just by watching the chart within 1 min you can be able to tell whether the trend is Bullish or Bearish. If the price is above Kumo Cloud, Tenkan has crossed Kijun and Chikou Span is free then the price is extremely Bullish and you should plan to Go Long on the scrip and vice versa.
Kumo Cloud is the short term to intermediate term equilibrium zone. That means price/mkt is undergoing consolidation and you shouldn’t take any trade.
Kumo-Twist indicates investors’ sentiment changing from Bullish to Bearish and vice versa.
You can use Kijun as your StopLoss.
In stock mkt past price affects the present price & present price affects the future price.
Ichimoku Chart is a complete Trading System in itself.
If you are trading intraday then ichimoku can only help you with lower time frames (like 1 min). When the price breaks the cloud (kumo) with high volume then you can take a position, otherwise wait for the pullback towards the cloud before taking a position.
If you really serious about ICHIMOKU TRADING than watch this nice explanation.
I like to add here to use MACD too.