Note

SX5E: Ichimoku indicators analysis

· Views 24



SX5E: Ichimoku indicators analysis
Scenario
TimeframeWeekly
RecommendationSELL
Entry Point4923.9
Take Profit4836.0
Stop Loss4951.0
Key Levels4877.5, 4995.5, 4896.5, 4995.6
SX5E: Ichimoku indicators analysis

Let's look at the four-hour chart. Tenkan-sen line is crossing Kijun-sen from below, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud has reversed from ascending to descending. The instrument has broken down Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (4877.5). The closest resistance level is the lower border of the cloud (4995.5).


SX5E: Ichimoku indicators analysis

On the daily chart Tenkan-sen line has crossed Kijun-sen from below, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is approaching the price chart from above, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. Kijun-sen and Tenkan-sen lines have become support (4896.5) and resistance (4995.6) levels respectively


On the four-hour chart the instrument has broken down the cloud, forming a strong signal to sell. On the daily chart we can see the beginning of the trend reversal. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (4836.0) and Stop Loss at the level of Kijun-sen line (4951.0).


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.