Ichimoku Charts: An Introduction to Ichimoku Kinko Clouds by Nicole Elliott
Candlestick charts, although originating in Japan, now play an important role in technical analysis worldwide. Now, for the first time in English, this book presents the next stage of candlestick analysis - Ichimoku Kinko Hyo. Sometimes called Cloud Charts, this analysis adds moving averages to candlestick charts. But moving averages a little different from those traditionally used in the West. For trending markets, Cloud Charts add an essential tool for analysing near-term areas of support and resistance.
The book covers the history of candlestick charts - explaining the context in which they developed. And then moves on to explain how in the 1930s a journalist, with the pseudonym Ichimoku Sanjin, started refining candlestick analysis by adding a series of moving averages. The book explains in detail how to construct Cloud Charts and how to interpret them. A chapter is devoted to the advanced analysis of Cloud charts, with an in-depth study of the Three Principles: Wave Principle, Price Target and Timespan Principle. The book is illustrated throughout with numerous examples of Cloud Chart analysis.
Walk into any Japanese dealing room today and you will see that the most common charts being used are Ichimoku Kinko Clouds. This book presents the definitive explanation of these charts for the first time to a Western audience.
Chapter headings for Ichimoku Charts
1 - History Edo, candlesticks and Ichimoku Kinko Hyo Calligraphy Terminology
2 - Constructing the Cloud Charts Candlesticks - the foundation Creating Ichimoku charts Daily data and mid prices Moving averages Drawing the Cloud Chikou Span Example - calculations for Ichimoku construction Summary
3 - Interpretation of the Clouds Support/resistance levels Finessing trading positions Cloud thickness Distance between price and Cloud Clouds are for trending markets Chikou Span Example 1: Dax Index Example 2: euro vs dollar
4 - The Three Principles Wave Principle Price Targets Timespan Principle
5 - Case Studies Study 1: FTSE100 Index Study 2: Short Sterling interest rate future Study 3: CADUSD Study 4: Gold Study 5: USDYEN Study 6: Dow Jones Utilities Index
6 - Option Trading with Clouds Cloud charts uniquely useful for options trading Buying Options Strategies Writing Option Strategies Conclusion
Nicole Elliott is a graduate of the London School of Economics and a member of the Society of Technical Analysis. She has worked in the City of London for over 20 years. Whether in trading, sales or as an analyst within the treasury departments of major international banks, technical analysis has formed the backbone of her methodology. As Mizuho Corporate Banks senior analyst in London she covers the foreign exchange, interest rate and commodity markets and equity indices.
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Paperback: 139 pages
Publisher: Harriman House (February 1, 2007)