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Glossary — I
Ichimoku Cloud (Ichimoku Kinko Hyo)
A comprehensive indicator system featuring five lines and a 'cloud' that shows support/resistance, trend direction, and momentum at a glance. Developed by Japanese journalist Goichi Hosoda.
Implied Volatility (IV)
The market's forecast of future price volatility derived from option prices. High IV means options are expensive and big moves are expected; low IV suggests calm markets ahead.
Impulse Wave
A strong, directional price move in the direction of the larger trend, typically with expanding volume. In Elliott Wave theory, impulse waves consist of five sub-waves.
Indecision
A market state where neither buyers nor sellers have clear control, often shown by doji candles, spinning tops, or tight-range bars. Indecision often precedes breakouts.
Inside Bar
A candle whose entire range (high to low) is contained within the range of the previous candle. Signals consolidation and a potential breakout in either direction.
Inverse Head and Shoulders
A bullish reversal pattern with three troughs: two higher 'shoulders' flanking a lower 'head'. The mirror image of head and shoulders. Confirms when price breaks above the neckline.
Inverted Hammer
A bullish single-candle reversal pattern with a small body at the bottom and a long upper shadow. Appears at the bottom of downtrends, suggesting buyers are starting to test higher prices.
Island Reversal
A reversal pattern where a cluster of candles is isolated by gaps on both sides, forming an 'island' of price action. The gap isolation signals a dramatic shift in sentiment.
In Neck Pattern
A bearish two-candle continuation pattern where a bullish candle closes at or just above the low of the prior bearish candle. The weak bounce suggests selling pressure remains dominant.
Inverted Cup and Handle
A bearish continuation pattern that mirrors the cup and handle — a rounded top (inverted cup) followed by a small upward consolidation (handle). Breakdown below the handle confirms further decline.