Had a play with a new (well it's from the 30's - but new to me)...

Had a play with a new (well it's from the 30's - but new to me) chart type. Ichimoku. Easy to find the description of it on line. https://www.axi.com/au/blog/education/ichimoku-cloud-trading-strategy
I got this on a US trading site so those are US cents on the right hand side. The chart below is a weekly period.
In hind sight it really picked the downward trend at the crossover in Dec 21. While it would not have got you out at 0.62AUD it certainly would have got you out of a lot of the fall. So what - it has only recently broken back above the trend and is staying there. From my novice (learning) understanding if the price moves above the cloud (out of the ascending wedge I drew on in blue) is the first confirmation of a new upward trend, and if it stays above the cloud when the cloud goes green (predicted to do so end of June) then the trend is confirmed. Look out for a dip below the 9 period moving average (a downward cross) for when to exit.
To be fair this is nothing many of you are not already looking for with your own TA, but with nothing else going on here I figured I try some new trading charts.




Now to look at the same method but with daily periods.... at the daily the big take away is the chart is already saying we were in an upward trend (cross over and above the green cloud). No s*** Sherlock you say - but now we're going sideways until news. Have a look at it or don't - I just thought the different time periods were interesting to check out with the same approach.