Introducing the Ichimoku Kinyo Hyo technical indicator. Ichimoku Kinyo Hyo is a Forex trend following indicator which works on any time frame. Trading means buying and selling of currency pairs, but to do that successfully you need to figure out the direction of the market. That way you will be able to sell only when you anticipate a fall of prices and buy when you anticipate a rise of prices. This indicator will help you figure out the direction of the trend in your selected time-frame. Ichimoku Kinyo Hyo was established by the Japanese, hence the name. You are guaranteed to make money in Forex if you are using a tool that will help you sell or buy at the right time.
Install Ichimoku Kinyo Hyo indicator, your chart should look like this:
The Ichimoku Kinyo Hyo indicator has several moving averages and cloud-like indicators. Japanese trader’s uses cloud indicators as their definition of support and resistance. When prices are above the cloud, the indicator signals bullish market sentiment, when the prices are below the cloud, the indicator signals bearish market sentiment.
Conditions For Buying Using Ichimoku Kinko Hyo
The market should be in an up trend.
The market should be above the Ichimoku Kinko Hyo
Place your long position as soon as above conditions are met.
Place your stop loss just below the recent swing low.
Take your profit when the market crosses below the Ichimoku Kinko Hyo
Conditions for Selling Using Ichimoku Kinko Hyo
The market should be in a down trend.
The market should be below the Ichimoku Kinko Hyo
Place your short position as soon as above conditions are met.
Place your stop loss just above the recent swing high.
Take your profit when the market crosses above the Ichimoku Kinko Hyo