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Explanations on The Ichimoku Cloud
The Ichimoku cloud is a technical analysis method that combines multiple indicators in a single chart. It is used on candlestick charts as a trading tool providing information on potential price support and resistance areas. It is also used as a forecasting tool and many traders use it to try to determine future trends and market dynamics.
The Ichimoku cloud was conceptualized in the late 1930s by a Japanese journalist, Goichi Hosada. However, his innovative business strategy was not published until 1969, after decades of study and technical improvements. Hosada called it Ichimoku Kinko Hyo, which literally translates from Japanese to “chart balance at a glance.”
The Ichimoku cloud was conceptualized in the late 1930s by a Japanese journalist, Goichi Hosada. However, his innovative business strategy was not published until 1969, after decades of study and technical improvements. Hosada called it Ichimoku Kinko Hyo, which literally translates from Japanese to “chart balance at a glance.”
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