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  • #12,121
  • Nov 17, 2021 2:42am Nov 17, 2021 2:42am
Hello Fillipo1
Interresting pair.
UsdChf has not lost its power, but is close to upper bb.
Can you teach us something about Icho and macd - together with the BK8 upsetting - if the trend is exhausted now, and is most probably going flat???
Thank you.
Oddbj.
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All the best to all of you. But don't follow me. I am a learner.
  • #12,122
  • Nov 17, 2021 4:37pm Nov 17, 2021 4:37pm
Quoting Oddbjorg
Hello Fillipo1 Interresting pair. UsdChf has not lost its power, but is close to upper bb. Can you teach us something about Icho and macd - together with the BK8 upsetting - if the trend is exhausted now, and is most probably going flat??? Thank you. Oddbj. {image} {image}

Oddbjorg, my answer is likely incomplete, but I do have a background with Ichimoku. I hope Filipo will add his invaluable input.

For the current (0035 London) UCf D1. The chikou span (light green line) has not yet broken out from previous price and has now started to turn down matching current price. Ichimoku would argue for no entry without this line being in the clear over price here. This would be a hard NO TRADE for me.

2. The future kumo/cloud is red suggesting upcoming prices are expected to turn down, not continue up.

3. The blue (tenken sen) line has crossed over the red (kijun sen) line, but is still in the cloud. So this bears watching as does a possible break out for the chikou span. Should this happen, a long trade could be considered although the 30 September candle may represent resistance and it is not far above.

Ichimoku seems to be saying "no trade yet" but keep watching on the D1. Since price is still slightly above the kumo/cloud we have mixed picture rather than a clear entry signal.

If you drop down to the H4 you will see a clear entry signal [long] on Ichimoku as far back as 10 Nov and again on 15 Nov. An ideal signal would be: price out of kumo, Tenken x Kejun (for a long) and above the kumo, the Chikou free and above price and the future kumo has turned green (long).

Additionally, when price significantly exceeds the Kijun, which represents a sort of equilibrium/base line, it will soon/eventually fall back to an area nearer the Kijun. This also argues for price to fall from this area.

There are additional subtleties that Filipo can probably add, but this might be a helpful look at the current UCf situation on D1.
  • #12,123
  • Nov 17, 2021 4:44pm Nov 17, 2021 4:44pm
We would have had a solid UCf entry signal on this system on 11 Nov for those watching. This entry was also confirmed by the RSI 14 being > 50, a useful 'second opinion.'
  • #12,124
  • Nov 17, 2021 7:02pm Nov 17, 2021 7:02pm
Quoting Forest-Sea
{quote} Oddbjorg, my answer is likely incomplete, but I do have a background with Ichimoku. I hope Filipo will add his invaluable input. For the current (0035 London) UCf D1. The chikou span (light green line) has not yet broken out from previous price and has now started to turn down matching current price. Ichimoku would argue for no entry without this line being in the clear over price here. This would be a hard NO TRADE for me. 2. The future kumo/cloud is red suggesting upcoming prices are expected to turn down, not continue up. 3. The blue...
Hello
Thank you so much.
This was helpful.
Oddbjorg
All the best to all of you. But don't follow me. I am a learner.
  • #12,125
  • Nov 17, 2021 8:42pm Nov 17, 2021 8:42pm
Quoting Oddbjorg
Hello. Yes, the system works if you take care, and are willing to wait till things are BK8'ish - that is - after the strategi BK8 describes in post 1. Look at BK8 and and Ghibli's charts and you are well on the going. All the best. Oddbjørg.
Quoting maxwell87
@fated82: system works with a few tweeks, proper sl, tp (up to you) and experience. it took me a long time to practice...
Hi all,

Thanks for the morale booster. I am currently testing this strategy on my demo account and was impress with the results thus far. I still got much to learn, especially on TP and SL.

While I understand the rules for both, I just want to know, do you guys watch your trades throughout the day? I watch my trades and I don't think that is healthy.

Also, one more thing, there is a rule that states that you should not open more than 2 of the same currencies.

Does it mean if I have positions in AUD/USD and EUR/AUD, I can't have any pairs that include a AUD?
  • #12,126
  • Nov 18, 2021 2:16am Nov 18, 2021 2:16am
Quoting Oddbjorg
Hello Fillipo1 Interresting pair. UsdChf has not lost its power, but is close to upper bb. Can you teach us something about Icho and macd - together with the BK8 upsetting - if the trend is exhausted now, and is most probably going flat??? Thank you. Oddbj. {image} {image}
Hi everyone.
This is what I observe with Ichimoku.
1)Daily, weekly and monthly all have flat SSA-SSB-TS-KS suggesting some consolidation phase.
2)On the daily the price action was clearly overextended as rightly stressed by Forest-Sea considering the distance with both TS and KS. However today Chikou is out of the wood and there are no immediate obstacles to the upside.
3)On the weekly the pair retracted after testing the former flat SSB extension (always to consider on weekly and monthly). The pair remains in the middle of an ascending channel and Chikou in the cloud with no obstacle to the upside.
4)The monthly KIJUN at 0.9390 is a potential TP should the pair resume its uptrend.
It’s worth checking the monthly DXY currently capped by KS.

All the best.
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I used to be indecisive but now I'm not so sure...
  • #12,127
  • Nov 18, 2021 3:06am Nov 18, 2021 3:06am
Quoting Filipo1
{quote} Hi everyone. This is what I observe with Ichimoku. 1)Daily, weekly and monthly all have flat SSA-SSB-TS-KS suggesting some consolidation phase. 2)On the daily the price action was clearly overextended as rightly stressed by Forest-Sea considering the distance with both TS and KS. However today Chikou is out of the wood and there are no immediate obstacles to the upside. 3)On the weekly the pair retracted after testing the former flat SSB extension (always to consider on weekly and monthly). The pair remains in the middle of an ascending...
Thank you Fillipo1
All the best to all of you. But don't follow me. I am a learner.
  • #12,128
  • Nov 18, 2021 6:22am Nov 18, 2021 6:22am
EURUSD. Just as one swallow doesn’t make a summer, I guess we should wait for the confirmation of the reversal pattern suggested by yesterday’s pin bar out of lower BB.
The trend is clearly on the downside.
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I used to be indecisive but now I'm not so sure...
  • #12,129
  • Nov 18, 2021 8:55am Nov 18, 2021 8:55am
Quoting fated82
{quote}{quote} Hi all, Thanks for the morale booster. I am currently testing this strategy on my demo account and was impress with the results thus far. I still got much to learn, especially on TP and SL. While I understand the rules for both, I just want to know, do you guys watch your trades throughout the day? I watch my trades and I don't think that is healthy. Also, one more thing, there is a rule that states that you should not open more than 2 of the same currencies. Does it mean if I have positions in AUD/USD and EUR/AUD, I can't have any...

The two stars of this forum are clearly Filipo and Oddbjorg (equally) over a long period. Their being here proves, I think, the viability of this approach.

Watching trades: I can only speak for myself. If I watch, I will close the position prior to either the established TP or SL. Unless something dramatically changes I think it is wise to let a position play out based on your trading plan. My personality does not allow for frequent/continuous watching on H4 or D1.

Two positions with the same currency: More than this is a clear risk. Much better to diversify, if possible. If something goes wrong with the AUD and you have 3 or more positions, you will likely go SL on them all. Assuming reasonable MM you would not do this.

In starting to trade based on this forum I would rather closely follow the guidance of the OP, Bk8, as found and updated on post 1. You might elect to use something else once you are comfortable such as Filipo being a master of Ichimoku which helps inform his decisions with the sma 5 and BB, but anything else should be down the road for you. MM and SLs are an issue for any system and partially depend on your account size. I don't think anyone can tell you exactly how YOU should handle these beyond exercising considerable caution and risking a small percentage in total at any point in time. This is obvious stuff but sometimes is worth repeating for all of us.

Wishing you every success fated82. Keep reading the postings of the two leaders here.
  • #12,130
  • Edited 10:10am Nov 18, 2021 9:01am | Edited 10:10am
Quoting Filipo1
{quote} Hi everyone. This is what I observe with Ichimoku. 1)Daily, weekly and monthly all have flat SSA-SSB-TS-KS suggesting some consolidation phase. {image} {image} {image} {image}
Of course, Filipo has added useful analysis from the W and MO TFs.

What really jumps out for me is a point I should have made that the flat SSB on the D1 is often kind of a 'magnet' drawing price back towards it. It could later bounce and go higher, of course, but the flat SSB is another 'tell' to stay away from a long until more PA dictates the next step and trade.

IT IS IMPORTANT TO POINT OUT THAT THESE ICHIMOKU OBSERVATIONS HAVE NO ESTABLISHED PLACE IN THE MONTHLY PROFITS -- DAILY TRADING FORUM. I APOLOGIZE FOR ANY CONFUSION THIS MAY HAVE CAUSED.
  • #12,131
  • Nov 18, 2021 10:50am Nov 18, 2021 10:50am
dear any one...

can any one to help me to get some some idea about this method. How about the react the today candle of eur/jpy pair. because in my observe yesterday sell candle cross by sma line. but it has gone for a opposite direction. what do you think about the situation
  • #12,132
  • Edited 1:11pm Nov 18, 2021 12:51pm | Edited 1:11pm
Quoting sam1967
dear any one... can any one to help me to get some some idea about this method. How about the react the today candle of eur/jpy pair. because in my observe yesterday sell candle cross by sma line. but it has gone for a opposite direction. what do you think about the situation
Hi Sam --

1. The downtrend has now reached about one month, a very long time. I would be cautious seeing that chart.

2. Post 1 instructions say not to enter once the outer band is touched, here on the down side price does touch.

3. Price also bounced off the 200 line on the Monthly. This is not a necessary line with this method, but I believe it is useful for support or resistance.

Sam, of course, markets will do what they do and price may yet continue down. That's trading as a famous trader likes to say.

There is ample evidence that entering short is unwise at this place.
  • #12,133
  • Edited 4:20pm Nov 18, 2021 3:51pm | Edited 4:20pm
Quoting sam1967
dear any one... can any one to help me to get some some idea about this method. How about the react the today candle of eur/jpy pair. because in my observe yesterday sell candle cross by sma line. but it has gone for a opposite direction. what do you think about the situation
Hello Sam.
What if you looked through some currency-pairs, took one or two print screens with BB 20, 2 and sma 5 on, and you f x wrote what you are thinking about the pairs.
F x the one I attached here. The comments to this chart is f x.... Ranging... Wicks.... Sma not pointing up or down... Small candles... No trade.
Do you understand what I suggest, so we all can look at things together here on the forum?
Take care
Oddbjorg
Attached Image (click to enlarge)
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All the best to all of you. But don't follow me. I am a learner.
  • #12,134
  • Nov 18, 2021 4:34pm Nov 18, 2021 4:34pm
thanks all of you to contribute of this regards
  • #12,135
  • Nov 19, 2021 3:58am Nov 19, 2021 3:58am
Quoting sam1967
dear any one... can any one to help me to get some some idea about this method. How about the react the today candle of eur/jpy pair. because in my observe yesterday sell candle cross by sma line. but it has gone for a opposite direction. what do you think about the situation
There is no entry whatsoever here...? What do you mean?
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  • #12,136
  • Edited 6:58am Nov 19, 2021 5:49am | Edited 6:58am
Quoting maxwell87
{quote} There is no entry whatsoever here...? What do you mean? {image}
Hello
Maybe he thinks we would consider to go in with a short trade, since ma is pointing down.

Have a nice weekend all.
Oddbjørg
All the best to all of you. But don't follow me. I am a learner.
  • #12,137
  • Nov 19, 2021 7:52am Nov 19, 2021 7:52am
Quoting Oddbjorg
{quote} Hello Sam. What if you looked through some currency-pairs, took one or two print screens with BB 20, 2 and sma 5 on, and you f x wrote what you are thinking about the pairs. F x the one I attached here. The comments to this chart is f x.... Ranging... Wicks.... Sma not pointing up or down... Small candles... No trade. Do you understand what I suggest, so we all can look at things together here on the forum? Take care Oddbjorg {image}

Good advice.

And, Sam, please re-read post 1 again with care.
  • #12,138
  • Nov 22, 2021 11:36pm Nov 22, 2021 11:36pm
Hi all,

It's me again.

I want to check if this method is been use for crypto and stocks trading too? Has anyone use this method in these financial instruments too?

Also, is it common for trades that follow the rules but reverse the first day after you placed your trades?

I had it a couple of times and I am not sure is it common or is it my entry is wrong.
  • #12,139
  • Nov 23, 2021 4:08am Nov 23, 2021 4:08am
EUR NZD - Looks so interresting - or? -
BB so narrow - come on you profs - someone explain.
Does it mean buyers/sellers are waiting for the reaction from the news tomorrow??
Well I do not know - just asking.
Thank you.
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All the best to all of you. But don't follow me. I am a learner.
  • #12,140
  • Nov 23, 2021 6:10am Nov 23, 2021 6:10am
Quoting Filipo1
{quote} Hi everyone. This is what I observe with Ichimoku. 1)Daily, weekly and monthly all have flat SSA-SSB-TS-KS suggesting some consolidation phase. 2)On the daily the price action was clearly overextended as rightly stressed by Forest-Sea considering the distance with both TS and KS. However today Chikou is out of the wood and there are no immediate obstacles to the upside. 3)On the weekly the pair retracted after testing the former flat SSB extension (always to consider on weekly and monthly). The pair remains in the middle of an ascending...
USDCHF resumes its uptrend. Could also benefit of a possible intervention from the SNB to control CHF strength.
I used to be indecisive but now I'm not so sure...
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