6. How to use Ichimoku's Kijun Sen to set support and resistance lines
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- Опубликовано: 31 май 2024
- In this video Eugenio shows how to determine support and resistance lines using Kijun Sen (Japanese for base line) which forms part of the Ichimoku Cloud indicator in Tradingview. Further videos covering Ichimoku will follow shortly.
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I strongly recommend that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Kijun Sen:
The Kijun-sen, or base line, is an indicator and important component of the Ichimoku Kinko Hyo method of technical analysis, which is also known as the Ichimoku cloud.
The Kijun-sen is the midpoint price of the last 26-periods, and therefore an indicator of short- to medium-term price momentum. The indicator aids in assessing the trend, and can also be useful for identifying trading opportunities when combined with the other components of the Ichimoku cloud.
Support:
Support is a price level where a downtrend can be expected to pause due to a concentration of demand (buying interest) when price is low.
Resistance:
Resistance is a price level where an uptrend can be expected to pause due to a concentration of supply (selling interest).
Links you may find useful:
Tradingview cloud based charting software: tinyurl.com/fxfn6fdc
Kraken for trading cryptocurrencies: kraken.com
Freetrade for trading stocks and shares: tinyurl.com/yfu8xmcp
(By using this Freetrade link, both you and Eugenio will earn one free share!)
Social:
Facebook page: tinyurl.com/57578aze
E-mail: eugenioscrypto@gmail.com
Finally, please visit DRONOGRAFI.com which sponsors the production of Eugenio's Crypto Analyses videos.
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Very clearly explained in a short time.
I have enjoyed , Thanks
Very interested
Dear sir, thank you
Nice sir
i LIKE IT
Great content 😊
Glad you think so!
Do you always only mark the support & resistance lines on the Daily Chart? What are your thoughts on marking up on the 30 minute chart?
Excuse the delay! Ichimoku's signals are simply more reliable on longer timeframes since you get less noise. When price moves fast, looking at say a two month chart can give you very valuable information. Just check out the two month chart for the German index DAX. What can you see?!
If you're trading short timeframes like 30 minutes, it is important to be aware what Ichimoku is telling you based on the day and week charts. I hope this answers your question.
It will confuse to take trade
this can be done without kijunsen :)
We appreciate your comment. Traders use various indicators, and you are correct that support and resistance lines can be identified without Kijun Sen. However, this doesn't diminish the value of Kijun Sen and what Ichimoku Kinko Hyo has to offer.