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Ichimoku Charts

An introduction to Ichimoku Kinko Clouds

By Nicole Elliott

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About the Author

Nicole Elliott

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 Bank's senior analyst in London she ... Read more on Nicole Elliott

Contents Listing

Preface
Introduction

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

Appendices
Constructing Candlestick Charts
Charting Program
My Approach to Technical Analysi
My daily routine
Recommendations
Table of sample calculations for FTSE100
Bibliography
Preface
Introduction

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 po ...

Jacket Text

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.

Media Coverage

DNA Money

"The author has explained the history of candlesticks and cloud charts in the initial chapters and the reader gets a hang of the underlying systems that went into the construction of these charts. ...

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Technical Analysis of Stocks and Commodities

Self-written feature on Ichimoku Kinko Hyo Charts.

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Investor\'s Chronicle

"Ichimoku Kinko Hyo, a branch of technical analysis, has existed for 40 years, yet is virtually brand-new to Western chartists. That's because textbooks on the subject have, until very recently, only ...

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Active Trader Magazine

"Elliott explains a candlestick charting method called Ichimoku Kinko Hyo, or "Cloud charts." The technique incorporates moving averages that are slightly different than those typically used in the ...

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Ytemagazine.com

East Meets WestUlla Decken, Your Trading EdgeSeptember/October 2009 edition

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Media Review

definitive explanations of candlesticks charts for beginnersDNA Money28th January 2008

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Sta-uk.org

'Ichimoku Charts' was reviewed by the Society of Technical Analysts in December 2007.

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Traders.com

Nicole had a three page article on 'Ichimoku Kinko Hyo Charts: How Clouds Can Obfuscate, Yet Reveal' in Technical Analysis of Stocks and Commodities magazine, September 2007.

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