The market liked a lot of things today. The Fed has telegraphed it will consider the market in making its moves and holding steady for the near future. The dollar and yields dropped. Gold (and me) a happy camper since October. And crude sure was happy today. Nat gas on the other hand has folded the tents and is heading home.
Regarding GUSH and the Ichimoku chart...and I am in no place to give advice, but as I understand it...
On the daily chart, price is still below the cloud and the cloud is pretty thick. These are bearish if nothing else. At some point though everything will switch from bear to bull or bull to bear. Look for the blue and red lines. Blue is a 9-period moving average-like line. It is the highest high plus lowest low over the last 9 days divided by 2. The 26-period is the same math over a 26 day period.
So, for a currently bearish position look for
1) Price relative to the cloud (below = bearish)
2) Look for price to rise above the blue line (when below the cloud)
3) Look for price to rise above the red line
4) Look for the blue line to rise above the red line
5) Look for price and red and blue lines to move into the cloud
6) Look for price to close above the cloud and price, and blue and red lines to establish a position above the clouds
For GUSH, the daily is still below but looing and sounding like a bottom has been made and it's moving up. The next shortest is the 120 min chart and that is in good position above the cloud but some dips into it from above
Regarding GUSH and the Ichimoku chart...and I am in no place to give advice, but as I understand it...
On the daily chart, price is still below the cloud and the cloud is pretty thick. These are bearish if nothing else. At some point though everything will switch from bear to bull or bull to bear. Look for the blue and red lines. Blue is a 9-period moving average-like line. It is the highest high plus lowest low over the last 9 days divided by 2. The 26-period is the same math over a 26 day period.
So, for a currently bearish position look for
1) Price relative to the cloud (below = bearish)
2) Look for price to rise above the blue line (when below the cloud)
3) Look for price to rise above the red line
4) Look for the blue line to rise above the red line
5) Look for price and red and blue lines to move into the cloud
6) Look for price to close above the cloud and price, and blue and red lines to establish a position above the clouds
For GUSH, the daily is still below but looing and sounding like a bottom has been made and it's moving up. The next shortest is the 120 min chart and that is in good position above the cloud but some dips into it from above
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