Hi all - this is my first time having a go at an Ichimoku Cloud analysis, so please give your feedback and some advice. Everything I write below could all be totally wrong!
I'm trying to understand the Ichimoku Cloud chart and have given it a go on the Motif Bio (aim) chart. This share has a high of about 45p in October last year, then hit a double low of 30p, then 32.5p in December.
It is now rising and (hopefully) looking positive. Today the price is about 42p and I am looking at the Ichimoku Cloud for some ideas. The 4 hourly indicates to me that the conversion line in blue is above the base line in red - indicating a bullish trend. I also believe that the cloud changing from red to green is also a good bullish trend.
However, when I changed the time period from 4 hours to 1 day or a different time period, the cloud didn't look so bullish. What are your opinions on this? Advice would be very welcome...
Cheers, Mono.
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Well - so far, nothing like my idea has happened. It's just been shifting sideways...