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4-hour timeframe
The overall picture:
The price is set inside Ishimoku indicator and nearly pivot level again. As for now, the Ishimoku lines position does not matter as both Ishimoku indicator and Bollinger Bands are showing flat. Therefore, it is recommended to wait for the sideward movement ending and after that to define the trend direction. MACD is placed around zero level that also signals about flat.
Trading recommendations:
It is recommended to wait for the situation clearing and the trend movement beginning.
The picture clarification:
Ishimoku indicator:
Tenkan-sen — red line
Kijun-sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with the white bars in the indicators window.
Have fortunate trades,
Stanislav Polyanskiy
January 6, 2010