If S&P500 futures close above 4482 on the close of this 4H candle it will trigger a strong Ichimoku buy signal. The "Sanyaku Kouten" signal is when we have a Tenkan/Kijun cross, Chikou breakout, and Kumo breakout. Watch today's price action and check lower timeframes for entries. We have nearly passed all the hurdles I mentioned in my earlier TradingView idea that would signal a bullish shift in bias.
As always, watch lower timeframes such as 1H and 30m to confirm if there is a simultaneous uptrend. We don't have an edge in trading ranging markets, so capturing the trend is important.
As always, watch lower timeframes such as 1H and 30m to confirm if there is a simultaneous uptrend. We don't have an edge in trading ranging markets, so capturing the trend is important.
Note
A conservative approach to trading would be to wait for the cross above resistance. At this point, we might also see Chikou Span break above Kumo which would be an additional bullish confluence.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.