Kijun Sen This is the third thread from the Ichimoku series. Here I will cover Kijun Sen. 🧵👇
1/8 Basics 🇯🇵Japanese name: Kijun Sen 🇺🇸🇬🇧🇦🇺🇨🇦English name: Base Line ➡️Meaning: Mid term support/resistance. 🧮 Formula: The average of the max and min value of the past 26 candles
2/8 📔 Readings: - In a trend the price is above/below Kijun Sen. This means buyers/sellers are in control mid term. Bouncing from it shows a stable trend. - Going below it on an uptrend and vice versa is always a big deal and might be a sign that the trend is dead or starting
3/8 🎢 Slope: ↗️ Kijun Sen sloped in the direction of the trend implies an active movement in the direction of the trend and reduces the chance for a retrace. 🧲 Flat Kijun Sen acts as a magnet and attracts the price for a retrace to it. ↘️ Kijun Sen sloped against the
4/8 Strength Kijun Sen is a major/strong support. That's why it's supposed to hold during a trend and not holding it may be a sign of a dying tend.
5/8 ⚖️ Balance Kijun Sen is supposed to be revisited on average each 26 candles. If it's not visited for longer, the price is pending a retrace and the market seeks balance. If the price is too far away from KS but it has touched it before less than 26 candles, this is not a
6/8 🚦 Signals: ❌❎ TK cross (cross between Kijun Sen and Tenkan Sen). This is when the value of Tenkan Sen goes above Kijun Sen (golden cross) or vice versa (death cross). There are strict guidelines in Ichimoku for which dead/gold cross is a fake and which is a real one.
7/8 Function of Kijun Sen in a range/trend: 📈In a trend, the price bounces from Kijun Sen and keeps moving in the direction of the trend. 📈📉In a range, the price moves around the center of the range, which is Kijun Sen. If you see the price rejecting from the extreme of a
8/8 Previous lessons: 1. The Ichimoku TA system https://x.com/drpastet/status/... 2. Tenkan Sen https://x.com/drpastet/status/...
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