Growlife Inc (PHOT)’s moving averages reveal that the Tenkan line of the shares are below the Kijun-Sen line, indicating potential downward momentum building in the bearish chart. Growlife Inc moved 0.00 in the most recent session and touched 0.0190 on a recent tick.
The Tenkan-Sen is generally used in combination with the Kijun-Sen to create predications of future momentum. A buy signal is created when the Tenkan-sen line moves above the Kijun-Sen, while a sell signal is created when the Tenkan-Sen line moves below the Kijun-Sen line.
Many technical traders use the Tenkan-Sen as a tool for predicting levels where the price of the asset will find short-term support.
When reading Ichimoku Kinko Hyo charts, investors should note that the Tenkan-Sen line leads the Kijun-Sen, and tracks price with more sensitivity because it covers a shorter period of time. When the Tenkan-Sen line crosses and moves above the Kijun-Sen line, this is generally considered a bullish signal. Alternatively, when the Tenkan-Sen line crosses below the Kijun-Sen line, it is considered a bearish signal.
The tenkan sen/kijun sen cross is one of the most traditional trading strategies within the Ichimoku Kinko Hyo system. The signal for this strategy is given when the tenkan sen crosses over the kijun sen. If the tenkan sen crosses above the kijun sen, then it is a bullish signal. Likewise, if the tenkan sen crosses below the kijun sen, then that is a bearish signal. Like all strategies within the Ichimoku system, the tenkan sen/kijun sen cross needs to be viewed in terms of the bigger Ichimoku picture before making any trading decisions, as this will give the strategy the best chances of success. In general, the tenkan sen/kijun sen strategy can be classified into three (3) major classifications: strong, neutral and weak.
The Williams Percent Range