SX5E: ICHIMOKU INDICATORS ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 5027.5 |
| Take Profit | 5052.0 |
| Stop Loss | 5000.0 |
| Key Levels | 4980.0, 5000.0, 5052.0, 5076.5 |
Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has broken down the cloud and slowed down its fall. One of the previous minimums of Chikou Span line is expected to be a support level (5000.0). The closest resistance level is Tenkan-sen line (5052.0).
On the daily chart Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Kijun-sen line (4980.0). The closest resistance level is Tenkan-sen line (5076.5).
On the four-hour chart we can see a correction of the upward movement. On the daily chart the Bullish 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 (5052.0) line and Stop Loss at the level of Kijun-sen line (5000.0).
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