KGC: Bearish Tenkan-sen Bounce in C-to-D LegKinross Gold CorporationBATS:KGCtroydowvanzandt In my book, Ichimoku: The Holistic System, I detail the bread-and-butter bounce trades. In this chart of KGC we see what is known as a Tenkan-sen bounce. On June 4, there was a doji that touched the Tenkan--the measure of short-term equilibrium. The red candle of June 5 is a confirmation of this bearish bounce. The vertical blue lines are the Kihon-sūchi (Basic Numbers). The doji printed exactly on Kihon 17. In Ichimoku time theory, this is the Kihon at which you expect the move to show whether it has legs and has a decent probability of maintaining its character to Kihon 26, the point of trend maturity. This Tenkan bounce is in confluence with the C-to-D leg of the N wave I have pointed out with A, B, C, and the white down-sloping trend line, the end of which terminates just about at price projection N. N in Ichimoku wave theory is where you expect a symmetrical (i.e., measured) move. In this scenario, C-to-D equals A-to-B. The only fly in the ointment is support at the March 20 pivot low. Nonetheless, there is some high-probability downside here to at least that level. As far as the lines go, everything is indicating short at the time of this writing. The yellow Chikou Span is in free space and pointing down. The red Tenkan-sen is pointing down. The current trend has been strong to get the stodgy Kijun-sen --the measure of medium-term equilibrium--to point down, too. When you have everything in the desired direction, that's a strong entry signal. Overall, everything is quite bearish for KGC. It's trading under the Kumo (cloud) after a bearish TK cross at the beginning of May.