Quote from: mikeywith on December 20, 2018, 04:42:45 PM

I do not think you even looked at the chart. whenever the red cloud appeared it marked the lowest price. while it is true that as long as we are below the cloud the overall trend is still bearish but if you look closely then you will understand that the the lowest weekly candle appeared right after the cloud was showing.

if the picture is not clear enough then you can use the BLX chart on TV which has a 7 years worth of data and zoom in to every lowest weekly candle , draw the vertical line and it will perfectly line up with the beginning of the cloud.

No, the picture is clear enough and I get what you are saying. But just because the lowest price happened two times in the past at that particular configuration, it doesn't mean it will happen again.

Or let me put it this way: that's not how the Ichimoku system works. I can show you countless examples of other currencies where the appearance of the red cloud above the price meant a prolonged downtrend.

Quote from: mikeywith on December 20, 2018, 04:42:45 PM

indeed i do not give much weight to Ichimoku cloud

Yes I agree, Ichimoku has its moments, but no indicator is perfect if used alone.