The chart you posted is of the Ichimoku on a 5 minute chart. Support and resistance plays little if no part on that small of a time frame. The kumo would be the result of just a few periods ago when the market may have just been in a flutter due to market noise and not real directional movement.
Also, keep in mind that S/R levels are not set in stone and drawn like a line in the sand. They are AREAS where orders are typically placed. That may be a round number, a centenial mark, a fib line, murray math line, etc. They are strictly a self fulfilled prophecy.
Lastly, the Ichimoku is a system, that while usable on smaller time frames, was designed for longer time frames. That is really when the entire scope of the indicator starts to become apparent with all that it offers.
The indicator wasn't designed to be a strict system of, "you enter here....you exit here.", but a way to evaluate market movement and determine the best odds of direction.
It took me a while to learn this indicator....and then twice as long to understand it. I have the utmost respect for it and it's abilities and is a powerful tool in the hands of a bright trader.
Hope that helps you out.
Also, keep in mind that S/R levels are not set in stone and drawn like a line in the sand. They are AREAS where orders are typically placed. That may be a round number, a centenial mark, a fib line, murray math line, etc. They are strictly a self fulfilled prophecy.
Lastly, the Ichimoku is a system, that while usable on smaller time frames, was designed for longer time frames. That is really when the entire scope of the indicator starts to become apparent with all that it offers.
The indicator wasn't designed to be a strict system of, "you enter here....you exit here.", but a way to evaluate market movement and determine the best odds of direction.
It took me a while to learn this indicator....and then twice as long to understand it. I have the utmost respect for it and it's abilities and is a powerful tool in the hands of a bright trader.
Hope that helps you out.
Capital Preservation is key to long term wealth accumulation