This trading journal has the purpose, to be a log for my trades based on
this trading idea.
I like to put parts of 2 trading system together to identify
areas of price exhaustion and trend reversal points. Also I want to spot
areas of support and resistance.
The trading idea is based on 2 well known trading systems:
1) The Tom Demark Sequential and
2) the Ichimoku Kinkou-hyou trading system.
Basic -especially at the turning points- is the knowledge about candlestick pattern.
Short intro to TD sequential:
The TD sequential is based on 9 consecutive closes less than the close 4 candles ago (for a downtrend) and 9 consecutive closes higher than the close 4 candles ago (for an uptrend).
After 9 days price will reach a zone, where is no interest to climb higher (or lower). It will go sideways or turn. If trend is very strong it will go more then 9 days.
To keep in mind, the direction of 9 consecutive closes are the directon of the trend.
There is a second part of the system in the Tom Demark universe, which is called "Countdown". For further information I recommend threads here on FF, or TD book: "The New Science of Technical Analysis", 1994.
Chart 1: TD Sequential
Short intro to Ichimoku Kinkou-hyou:
The ichimoku system is a complex trading system where the traders are able to trade different styles (kumo breakout, kijun sen cross, chikou span cross etc.). The entry system is, most time based on moving average crossing (which is not importend for me atm.)
What I take from the system are only the areas of support and resistance.
The Ichimoku is like a painting, where a lot of things work good together to give a good trade. For details I recommend to read everything here on FF about ichimoku, because there is no book available in english atm.
Chart 2: Ichimoku Kinkou-hyou
this trading idea.
I like to put parts of 2 trading system together to identify
areas of price exhaustion and trend reversal points. Also I want to spot
areas of support and resistance.
The trading idea is based on 2 well known trading systems:
1) The Tom Demark Sequential and
2) the Ichimoku Kinkou-hyou trading system.
Basic -especially at the turning points- is the knowledge about candlestick pattern.
Short intro to TD sequential:
The TD sequential is based on 9 consecutive closes less than the close 4 candles ago (for a downtrend) and 9 consecutive closes higher than the close 4 candles ago (for an uptrend).
After 9 days price will reach a zone, where is no interest to climb higher (or lower). It will go sideways or turn. If trend is very strong it will go more then 9 days.
To keep in mind, the direction of 9 consecutive closes are the directon of the trend.
There is a second part of the system in the Tom Demark universe, which is called "Countdown". For further information I recommend threads here on FF, or TD book: "The New Science of Technical Analysis", 1994.
Chart 1: TD Sequential
Short intro to Ichimoku Kinkou-hyou:
The ichimoku system is a complex trading system where the traders are able to trade different styles (kumo breakout, kijun sen cross, chikou span cross etc.). The entry system is, most time based on moving average crossing (which is not importend for me atm.)
What I take from the system are only the areas of support and resistance.
The Ichimoku is like a painting, where a lot of things work good together to give a good trade. For details I recommend to read everything here on FF about ichimoku, because there is no book available in english atm.
Chart 2: Ichimoku Kinkou-hyou