What is the role of ichimoku chikou in cryptocurrency trading?

3 answers

• Nov 28, 2021 · 3 years ago
  Ichimoku chikou, also known as the lagging span, is an important component of the Ichimoku Kinko Hyo indicator. It represents the closing price of an asset plotted 26 periods behind the current price. The role of ichimoku chikou is to provide a visual confirmation of the trend and its strength. Traders use it to identify potential support and resistance levels, as well as to generate buy or sell signals when it crosses the price chart. By analyzing the relationship between ichimoku chikou and the price chart, traders can make informed decisions and improve their trading strategies.
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• Nov 28, 2021 · 3 years ago
  Ichimoku chikou is like the rearview mirror of cryptocurrency trading. It helps traders look back and confirm the trend's direction and strength. When the lagging span is above the price chart, it indicates a bullish trend, while a lagging span below the price chart suggests a bearish trend. Traders often use ichimoku chikou in combination with other indicators to validate their trading decisions. It's important to note that ichimoku chikou is a lagging indicator, so it may not provide real-time signals. However, it can still be a valuable tool in assessing market trends and making informed trading choices.
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• Nov 28, 2021 · 3 years ago
  In the world of cryptocurrency trading, ichimoku chikou plays a crucial role in technical analysis. It helps traders identify potential trend reversals and confirm the strength of existing trends. When the lagging span crosses above the price chart, it signals a potential bullish trend, while a cross below the price chart suggests a possible bearish trend. Traders often look for these crossovers as entry or exit points for their trades. Additionally, ichimoku chikou can act as a support or resistance level, providing traders with key price levels to watch. Overall, ichimoku chikou is a valuable tool for cryptocurrency traders to assess market trends and make informed trading decisions.
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