Title: Trading with Ichimoku Clouds
Author: Manesh Patel
The book, Trading with Ichimoku Clouds is an in-depth and comprehensive guide to understanding and utilizing the Ichimoku Cloud indicator for trading purposes. The indicator, developed by Goichi Hosoda in the 1960s, provides insights into the market’s trend, support, and resistance levels, making it possible for traders to make informed decisions.
The book is structured to cover the basics and the advanced aspects of Ichimoku Cloud trading. The book’s first half introduces the history, origin, and understanding of Ichimoku Clouds, while the second half dives deeper into the various techniques for trading using this indicator. First, Patel breaks down the cloud into its five components – Tenkan-sen, Kijun-sen, Senkou Span A, Senkou Span B, and Chikou Span – and explains the role of each element in generating trading signals.
Patel’s writing style is clear and concise, making it easy for readers to follow along and maintain a solid grasp of the concepts being explained. In addition, the book features numerous real-life examples and illustrations, allowing readers to see the application of the Ichimoku Cloud techniques in various market conditions. This helps bridge the gap between theory and practice, ensuring readers can develop a practical understanding of the indicator and its uses.
One of the book’s strengths is its balanced approach to strategy presentation. Patel discusses the advantages of using the Ichimoku Cloud indicator and highlights the potential drawbacks and limitations that traders should be aware of. This helps readers develop a well-rounded understanding of the indicator and become more critical in applying the techniques.
However, the book’s weakness lies in the limited discussion of integrating the Ichimoku Cloud indicator with other technical indicators and trading tools. Traders interested in learning how to combine this indicator with other tools may need to seek further resources on this topic.
Despite this limitation, Trading with Ichimoku Clouds remains an excellent resource for anyone interested in learning about the Ichimoku Cloud indicator and its application in trading. New traders will find this book a great starting point, as it breaks down complex concepts into easily digestible segments. In addition, experienced traders will benefit from the book’s in-depth explanation of various trading strategies and techniques, allowing them to enhance their trading toolkits.
In conclusion, I highly recommend this book to anyone interested in expanding their knowledge of trading strategies and understanding one of the market’s most reliable and unique technical indicators – the Ichimoku Cloud.
