The Importance of Cloud Charting
The evening of the US election, with a general consensus betting on a Hilary win, the STA flock turn up to see one of our very own speak at the Bitish Banking Association. Nicole Elliott is famed for bringing Ichimoku charts to the west and her entertaining and warm presentation skill proved to be a hit amongst the STA following. After a great introduction Nicole explained how important it is to know the market you are trading with some detailed and compelling facts about the FX markets. Her explanation of the complexities of the market place and how we can use technicals to our advantage will stick in my memory for some time. A key point that struck me, was after being in the markets for many years Nicole has managed to retain her enthusiasm saying ‘ I can’t wait to open my charts first thing in the morning ‘.
Once the introduction was out of the way Nicole then brought out some of her charts. Not only explaining how she uses the clouds Nicole also explained some of her thoughts on current market conditions. Ichimoku is clearly a subject that she is very passionate about and understands in great depth. Maybe I could have used some of that analysis to analyse those polls before the election. We were also given the news that a second book maybe on the horizon, which would be great as the first proved to be such a popular read.
Listening to Nicole Elliott is always a great pleasure, her expertise and skill are valuable for any technical analyst both seasoned and new. From a personal point of view she gives me a reminder of how important Ichimoku cloud charts really are and where to fit them in my analysis.
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