IBEX35: Ichimoku indicators analysis
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 11669.7 |
| Take Profit | 11966.24 |
| Stop Loss | 11564.76 |
| Key Levels | 11567.63, 11743.20, 11564.76, 11769.99 |
Let's look at the four-hour chart. Tenkan-sen line is crossing Kijun-sen from above, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from above, current cloud is ascending. The instrument has entered the cloud. Borders of the cloud serve as the closest support (11567.63) and resistance (11743.20) levels
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Kijun-sen and Tenkan-sen lines have become support (11564.76) and resistance (11769.99) levels respectively
On the four-hour chart we can see a correction of the upward movement. On the daily chart we can see a correction of the upward movement. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (11966.24) line and Stop Loss at the level of Kijun-sen line (11564.76).
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