Ichimoku

[targus+]

ichi thanks,

lol, have just put Ian's 9ema on!!

Ok, neutral.

Can you help us trade the Ichi? There must be an expert in here somewhere, no.

 

[ichi]

ichi thanks,

lol, have just put Ian's 9ema on!!

Ok, neutral.

Can you help us trade the Ichi? There must be an expert in here somewhere, no.

well, there are of course..search the forum. Also, if not, there are other resources in the internet such as this.. I learned the stuff from the site as well....after that, its your own fine tuning

 

[targus+]

Ichi
one strategy I read about, seemed to work ok, was when all timeframes upto 4hr were under/over the kumo, take only shorts/longs on 5m signal, sounds simple enough.

 

[targus+]

So, price under kumo for all timeframes, enter short on 5m t/f when price under kumo and on tenkan sen cross over kijun with chikou span below price, rinse and repeat as they say.

Not bad..Mmm

 

[isatrader]

Does anyone agree eur/usd long?

Not from that chart from my understanding of it. Price is below the cloud, and if the Tenkan/Kijun line crossover down there, that would be a weak signal. I'd read some more on the Kumo trader site that ichi recommended as that has some really good info.

 

[targus+]

Isatrader

You are of course quite correct, as ichi said earlier, thank you.

I am now looking at a strategy whereby when price is under or over the kumo in all the timeframes and price curve is up/down to enter on the 5m t/f on the tenken sen cross as above.

 

[targus+]

Testing this strategy again on 5m t/f entered at the cross and span cross, entry at 1.3958 s/l already moved to b/e, put a 20pip trail on it? :clover::clover::clover:

 

[targus+]

Well that one worked quite ok went to 34pips (should have took them) trailing stop knocked me out at 1.3953 still nice 20pips or there about.

Rinse n repeat, maybe?

 

[targus+]

Well I'm definitely an Ichi fan, working pretty well this, entered on the 5m signal there is also a signal on the 30m t/f , entry 1.3870 t/p 1.3844. Waiting for a re-entry either on the 5t/f or the 1m t/f. So if price is below the kumo two frames above at least from your entry timeframe and preferable all, wait for tenken cross and chikou span..

 

[rathcoole_exile]

Well that one worked quite ok went to 34pips (should have took them) trailing stop knocked me out at 1.3953 still nice 20pips or there about.

Rinse n repeat, maybe?

May I suggest an alternative way to trail your Safety Stop, if it's within your R:R comfort zone ?
In a Short situation like this, rather than trailing an arbitary 20-pips or whatever, try using a Close Above KIJUN as your exit .....

take a look, play around, i think you'll be pleasantly surprised at how well it keeps you in a trade.

And of course, you can use a Close Below Kijun to RE-ENTER a new Short once price resumes down.

All you do, for the sake of the "cost" a few pips, is take yourself out of the game during a period of potential reversal, consolidation or confusion.


hope it helps, r_e

 

[targus+]

r-e

Many thanks.

You are of course correct, it was slowly occuring to me and to make matters worse, I had even read it!!!

Did you see the eur/usd move on Friday, Wow. I am told by an excellent Ichi trader that if 1.3536 is crossed/closed on the weekly this pair may go to 1.3100 or less, we will see when the new weekly candle opens. Anyone who has the time and would not mind, observations and analysis would really help us here to understand how he arrives at this and if possible with charts so new traders to this can quickly get a grip on the ichi way of trading.

You know on this day my harmonic patterns were showing bullish patterns on/off with all the timeframes upto 3hr I did not get a single bearish pattern, don't misunderstand me as I have made many profitable trades using these patterns but knew it was not enough as with many other systems they can fail, but Ichi was so superior at showing me at a glance I was blown away. I have been looking at ichi all week and signals going back many months, truly awsome, the great thing is you really do get the bigger picture with everything laid out for you, all I need is to build on my knowledge and confidence in trading with it. No looking back now

At the moment I am trading the small timeframe to gain experience using it and of course you get more trades during the course of one day and I believe the method outlined above is a good one (not mine but one I found).

For the first time I can see the potential to safely day trade using this, once I understand it.

To my mind trading ichi appears to be a very robust way to trade and your insights are truly welcome and how you trade ichi.

 

[rathcoole_exile]

on the weekly this pair may go to 1.3100 or less,

well, the 1.3100 obvoiusly comes from the flat Senkou B, the lower part of the Weekly Cloud.

i can see at least 2 peaks of support at 1.2900 on the Weekly Chikou Span

but first price would have to get through a Chikou support at 1.3500 (which is also the currrent area of the top of the Weekly Kumo Cloud)

IF it does break 1.3500, then there's maybe another support level at 1.3300


But to be honest, i'd be more inclined to look for Longs on this pair next week - as a result of both:
a) expecting a bounce off the Upper kumo Cloud on the Weekly, and
b) the attraction of a flat bottom on the Daily Cloud, flat areas generally being "magnets" to draw price back to Equilibrium


best of luck, it looks like an interesting week ahead.....

 

[targus+]

r-e

Yes, an interesting week especially given the range on Friday. About the daily cloud, I hear what you are saying, but a thin cloud I have read can mean a change in direction but personally I agree with you if only because I do not know what I am talking about yet

Albeit, I am scalping at the moment on the smaller timeframes, if I was on the higher timeframes I would wait for price to get at/above 1.3780 and then long/short below this, if this pair broke higher going off the weekly it should get to 1.3940 areas, this technique came from Gabor who simply added the daily h/l and divided it by two, same for the weekly, to arrive at a mid-point, technical analysis heh heh....

 

[targus+]

I 4got to mention, what bothers me is the Chikou Span on the monthly and the weekly (I have read this is the strongest indicator of the five that exist) and it is crossing price for a bearish move, can you give your opinion on this, looking at the charts when this happened in the past it continued a bearish move.

 

[rathcoole_exile]

yes you're right, Chikou Span has gone below price on both W & M, but in both cases, it's still above the Kumo Cloud, so it's a "weak" Bearish signal at best.

On the W, Chikou is also above Tenkan & Kijun

The only slightly confirming factor is that on the M, Chikoi is below Kijun whereit's crossed through price


it looks too tough for me to call, I'll be watching this pair from the sidelines for a few days until there's a clearer Glance....good luck

 

[ichi]

yes you're right, Chikou Span has gone below price on both W & M, but in both cases, it's still above the Kumo Cloud, so it's a "weak" Bearish signal at best.

On the W, Chikou is also above Tenkan & Kijun

The only slightly confirming factor is that on the M, Chikoi is below Kijun whereit's crossed through price


it looks too tough for me to call, I'll be watching this pair from the sidelines for a few days until there's a clearer Glance....good luck

So you mean to say you are swing trading for days and weeks sometimes ? since you are looking at W and M charts...

 

[rathcoole_exile]

So you mean to say you are swing trading for days and weeks sometimes ? since you are looking at W and M charts...

I was responding to Targus, who had asked a question regarding Chikou Span on thoses TFs


I trade a mixture of short- mid- and long-term TFs
(it helps to have multiple accounts so you can be Long on one TF and Short on another)

but mostly:
a) 4H anchor, 1H trade, 5m or 15m for refined Entry
b) in conjuction, to confirm or hold off from entries on Weekly Pivot Points.

 

[targus+]

Well as my first foray in understanding Ichi as r-e says it will be an interesting week. If the line, CS, of current closing prices is actually below where price action was 26 periods ago on both wkly/mthly, then this should confirm sell signals, which they do? As a poor trader, I cannot afford these timeframes so I will be only taking the shorts with timed entries on the 5m t/f. :clover:

 

[rathcoole_exile]

price on 5m right now is up into the Kumo Cloud.
The flat top of the cloud, is EXACTLY the same, 1.3636, as the Tenkan on the 1H

and it's also in a similar area to both Kijun and Cloud bottom on 15M
AND a Chikou Span resistance.....


So, on the basis that we're only talking about Daily and shorter TFs, and ignoring W & M,
then my play on this will be to observe a potential reversion from 1.3636,
(but 5m Chikou will probably not indicate a Short, and price will still be inside the Cloud, so no actual trade, until.....)
with an entry at bottom on 5m cloud (assuming Chikou moves enough to confirm) at 1.3590

 

[rathcoole_exile]

well thats me in at 1.3590,
current SL at 1.3700 (1H Kijun)

Open target, will see if this one can ride ....