Hi.
I was making a comment in someone else's idea about the Ichimoku indication and thought one point should be dealt with more.
So, let's assume something are in a down-trend, candles are flying down from cliff, to the left of Kijun-sen and Tenkan-sen.
We can see this on chart 1.
At some point the drop reaches some kind of resistance and starts some lateral...
A line that represents a 26 period midpoint
Price above/below Kinjun-Sen (baseline) confirms recent price momentum to the upside or downside.
Crossing conversion line is short term momentum trade signals
Tenkan and Kijun cross over multiple times price lacks trend and is choppy
Next indicator is the Chikou Span (Lagging Span)
Let 1st 15m bar close
1st bar closed below Kijun-sen,
+ vol, oversold %R, Red Macd bar
Wait for a 23%+ fib pullback retrace
2nd bar 38.2%+ pullback & closed below 38.2% level
Enter on open of 3rd bar
3rd bar CLOSE confirmed bearish bias because
Volume+, Oversold %R, Macd red bar
You find your own SL and TP