HK50: ICHIMOKU INDICATORS ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 16591.2 |
| Take Profit | 16707.06 |
| Stop Loss | 16545.00 |
| Key Levels | 16411.3, 16545.00, 16646.1, 16707.06 |
Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (16545.00). The closest resistance level is the lower border of the cloud (16707.06).
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is approaching the price chart from above, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is Tenkan-sen line (16646.1). The closest resistance level is the upper border of the cloud (16411.3).
On the four-hour chart the instrument is still rising. On the daily chart the Bearish trend is still strong. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (16707.06) line and Stop Loss at the level of Kijun-sen line (16545.00).
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