Omisego Price Action and Ichimoku Cloud

There are two ways to analyze the ichimoku cloud.

1.) When prices are above the cloud, price are up, when they are below the cloud they are down.

Given this analysis when the price of a coin goes above the could this is often a buy signal, if we do not own the coin already.

Price Above Cloud: Bullish
Prices Below Cloud: Bearish

2.) Another way to analyze is is the by the color of the cloud, when leading span a(yellow line in cloud on my chart, but this line is usually green) is above the leading span b(red cloud line) this means there is an uptrend and the cloud is green. If Leading Span B line is above the Leading Span A line, the cloud is red and represents a downtrend.

3.) When the conversion line,the dark blue line, crosses over the The Base Line, the light blue line, it is a bullish signal. These lines are used for quicker short term trades, we can see the conversation line is about to dip under the baseline, which means we may see a small bit of price decline, but this is likely happening because the chart is setting itself up for another bullish crossover, where the coversion line crosses over the base line. Remember the cloud is green and prices are in an uptrend. 

Conversion Line over Base Line - Bullish Signal
Base Line over Converstion Line - Bearish Signal

You can also check out the article I wrote on bear and bull markets for crypto advisers here if you need more assistance in spotting bear and bull trends. (https://cryptoadvisers.io/crypto/bearbull/)

Here is a chart I made for OMISEGO with the Ishumoku chart. The price has begun to fall back into the cloud, but the cloud is green and OMG buyer confidence is high so I exspect the OMG price to bounce back up after a brief bearish crossover of the baseline above the conversion line. There is no future resistance that would be represented by a red cloud. I am so excited for the future of Omisego!

I have had so much fun this week learning about the Ishimoku cloud and it has been a really simple and fun way for me to chart. I am happy to sharing my learnings with you. I will try to focus on a different style of charting weekly or bi-weekly and share my finding with everyone :)

DISCLAIMER: All opinions and information I share are general in nature and should not be taken as financial advice. I am not a financial advisor and if you are looking for financial advice you should seek out a license professional.

Analysing the Ichimoku cloud:

Leading Span A (Senkou Span A): Yellow Cloud Line

Leading Span B (Senkou Span B) : Red Cloud Line

Base Line (Kijun Sen Line) : Light blue line

Conversion Line (Tenkan-Sen) : Dark Blue Line

Lagging Span (Chikou Span Line) - Dark Green Line