another correct prediction?26 Mar 2019 09:35
San Leon Energy Plc (SLE.L) Chikou span line has moved above the Tenkan price line, indicating a potential trend reversal. The chikou span represents one of Ichimoku’s most unique features; that of time-shifting certain lines backwards or forwards in order to gain a clearer perspective of price action. In the chikou span’s case, the current closing price is time-shifted backwards by 26 periods. While the rationale behind this may at first appear confusing to people like Alaric, Timbremner, mclean91 and Blurill, it becomes very clear once we consider that it allows us to quickly see how today’s price action compares to the price action of 26 periods ago, which can help determine trend direction. If a Chikou span is descending quickly into a past price line, it could be a sign of exhaustion for the asset