Tenkan Sen This is the second thread from the Ichimoku series. Here I will cover Tenkan Sen, one of the five lines we see on the Ichimoku chart. The other four are Kijun Sen, SSA, SSB and Chiko Span and they will be covered in future threads. 🧵👇
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1/9 Basics Japanese name: 🇯🇵 Tenkan Sen English name: 🇺🇸🇦🇺🇬🇧 Conversion Line ➡️Meaning: Short term support/resistance 🧮 Formula: The average of the max and min value of the past 9 candles
2/9 📔 Readings: When the price is actively trending it is above Tenkan Sen on an uptrend and below it on a downtrend. And in the same time Tenkan Sen is above Kijun Sen on an uptrend and vice versa. 📈Price above TS means that buyers are in control short term. 📉Price below
3/9 Bounce 💪 Bouncing from Tenkan Sen without touching Kijun Sen shows a super strong trend. This means that the price is supported by it (the minor support/resistance) and doesn't even reach Kijun Sen (the major support/resistance). In trading strategies involving entries at
4/9 Strength Tenkan Sen is a minor (weak) support/resistance. Going below or above it is very common during a trend. This is never a big deal and it's not a sign that the trend is dead.
5/9 Slope Tenkan Sen optimally should be going in the direction of the trend or to be mostly flat. However, even if it's pointing in the opposite direction of the trend this is not fatal. That being said, the Tenkan Sen slope indirectly impacts the SSA slope, which if going
6/9 ⚖️ Balance Tenkan Sen is supposed to be revisited on average each 9 candles. If it's not visited for longer, the price is pending a retrace and the market seeks balance.
7/9 🚦Signals Together with Kijun Sen, Tenkan Sen produces a TK cross which is a very important signal. 🐂 When Tenkan Sen crosses above Kijun Sen, this is a golden (bullish) cross which is a buy signal. 🐻 When Tenkan Sen crosses below Kijun Sen, this is a death (bearish)
8/9 If you enjoyed this thread please like and share the original tweet if you still haven't done it. Follow @drpastet for the next Ichimoku threads.
9/9 List of previous lessons: 1. The Ichimoku TA system https://x.com/drpastet/status/...
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@DoctorCatX Another cracker of a lesson. The point about revisiting every 9 candles blew me away. Thanks
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