Ichimoku and price action

Quoting tommiho

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Hi Tyross, Checking out the thread and you are doing some great work here. Putting in some serious time. Impressive. Going to look at the 100 sma slope, 100 bar away approach. I might even get to like ichimoku in the end.

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Quoting Tyross

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Today, unfortunately, I had various appointments and family obligations, so I spent very little time at my desk. I did a bit of 'express' trading: easy setups, quick TPs, and catching the next setup on the fly. In this type of scenario, I always follow the same process: I identify a 100 SMA (yellow) on a lower timeframe with a slope strong enough to hold for a while, like this M3 chart (the yellow rectangle shows the price level that must be broken to reverse the 100 SMA slope: it is currently very far off). I then look for a moment where the M1...

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Quoting kofix11

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{quote} Hi Tyross Does your M3 mean 3 Minutes?

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Quoting Tyross

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{quote} Great questions ! You’re right; sometimes things go wrong. It’s what we call a 'flow.' A flow is a movement that seems inexhaustible; it breaks through reaction levels practically without stalling. The Dax can have intraday flows that last more than two hours... a total straight line. The first thing to do is accept that it is a flow—it’s very easy to spot. The Dax is going to go look for a major H4 liquidity level or a Daily level. There is no point in adding positions every 10 points. We let the position go against us without adding...

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Quoting Tyross

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{quote} Today is a 'Trend Flow' day on Dax. We get these regularly; we have to get used to them. It’s a sharp drop for the reasons we’re all aware of. These flows enter a correction phase when the lower timeframes (M1 ---> M5) manage to sustainably reverse the slope of their 100 SMA. We look at the threshold 100 periods back from the current price and evaluate how it’s likely to shift in the coming periods. In a flow, if you are in a counter-trend position—meaning you're sitting on a floating loss—you must maintain your net price between the 38%...

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Quoting Tyross

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{quote} End of day : + 528 points. Thanks mister Flow During counter-trend flows, I used to give back a large portion of my gains. There were two reasons for this: I was entering way too many positions in the wrong places, and I failed to recognize the flow, stubbornly insisting on being right. Now, these flows are a source of profit. I prepare my charts in the morning, so when I see a key high-timeframe level break (like this morning, when a flat W1 Kijun support failed to hold), I know a flow is very likely—especially since the context...

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Quoting Tyross

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{quote} EDIT: The Dax has just closed (10 PM in France). The price nearly touched the 50% retracement level. By ensuring the global net entry price of the position is maintained between 38% and 50%—despite floating losses during the day—it's possible to generate excellent profits, or at the very least, break even when the correction occurs. {image}

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Quoting birdland

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{quote} 1. interesting that you draw fibo levels not from the top of the swing, but at the high of that specific day 2. the trade was lasting over 12 hours and was against/counter trend. is this rather an exeption? thanx for your helpful explanation anyway!

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Quoting sln

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Hi Tyross, Do you mind sharing the indicators/template used in the above image please.TIA

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Quoting Tyross

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{quote} This type of trading only happens when the price moves right in front of me and creates a very powerful move. It doesn't happen often. However, I know exactly what to do in these specific cases. The first entry was taken at 8:30 AM and the last one around 4:15 PM. I always use the last visible swing High-Low on the H1-H2 timeframe to draw my Fibonacci; these are reflexes learned in SCM-ICT.

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Quoting birdland

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{quote} thx! Then I have another question Suppose you had to leave the house yesterday while the trade was still ongoing. How would you handle that?

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Quoting birdland

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{quote} thx! Then I have another question Suppose you had to leave the house yesterday while the trade was still ongoing. How would you handle that?

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Quoting Tyross

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+209 points. Daily goal reached (200 points). Boring trading session. I used the M1 and M2 SMA 100 slope (after 9:00 AM) to confirm my trading bias. This SMA 100 slope was solidly bullish. Note: one winning trade before 9:00 AM, but executed quite poorly. That said, with multiple entries, you always get a second chance. {image}

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Quoting Tyross

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{quote} With my smartphone. Trading apps have brought such progress to trading comfort... it’s really convenient. Yesterday, I entered my last position and went outside to do some yard work. I checked the price action regularly, completely stress-free. If I had needed to lower my overall net price again, I would have done it right from my phone.

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