Lets put the ichimoku to use. Got to give some credit to the volume profile here for the wick sensing ability.
Commento:
Commento:
Weekly
ANALYSIS:
1 -- Where is price? Just 2 strong candles above the cloud with a heavy bear wick on the current candle. --- NEUTRAL
2 -- Whats the cloud look like? Heavy flat resistance zone at $19 level. One candle has broken through. --- NEUTRAL
3 -- What do the MAs look like? Pointing upwards, yet not all of them are above the cloud. Blue MA remains inside. --- NEUTRAL
What do I think? Risky move to get into at the moment, to establish a trend all MAs have to be above the cloud for atleast 3-5 days. Direction going by ichimoku: UP ( accompanied with high risk of strong reversal)