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Peaches`s trading log

  • #21
  • May 25, 2009 11:22am May 25, 2009 11:22am
Of course price for GU will not go in a straight line till 1.68.

I`am expecting start of a fall down till one of this daily support, if the tom demark coundown finish "13" (which might be thursday).
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  • #22
  • May 25, 2009 2:08pm May 25, 2009 2:08pm
short eur/gbp:

daily has a doji, SL is above kijun sen. We have a bearish cross on the weekly and a monthly close below the tenkan sen.
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  • #23
  • May 25, 2009 2:17pm May 25, 2009 2:17pm
also long cadlfx:

price found support on 4 h tenkan sen.

If we look at the weekly chart, we see the 4. th test of the lower cloud resistance, I think it will break now, because the chinkou span is crossing the price, which is a bullish indication.

This is a high risk trade, because inside the cloud this is a no trade area.
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  • #24
  • May 25, 2009 4:31pm May 25, 2009 4:31pm
I know exactly what you mean Peter ,I use some MAs to judge candlesticks as to where we are in trend.I will observe the cloud with intrest...


Quoting peaches
Hi tony, nice to see you here.

What I`am missing in candlestick trading, is a more clear way to say where support and resistance is. I always have problems with this. I remember ichimoku-system, which I was trading 2 years ago, which is pretty good in support and resistance. I few charts, to compare pure candlestick, and ichimoku trading:
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #25
  • May 26, 2009 1:14pm May 26, 2009 1:14pm
Quoting Bones
I know exactly what you mean Peter ,I use some MAs to judge candlesticks as to where we are in trend.I will observe the cloud with intrest...
Hi tony...here is cad/lfx. I marked the pair of candles where I entered long (which i closed with profit and re-entered long now).

I have seen this change in trend on 4 h above the kijun sen, which is a medium support.

Imagine, what happens, if the weekly trendline breaks above....
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  • #26
  • May 26, 2009 1:22pm May 26, 2009 1:22pm
I closed my eur/cad with heavy losses, because the cad is too bullish against the eur.

The daily bullish candle was just e re-test of the kijun sen.

New short target is, upper part of the ichimoku cloud.

What I have learned here is, that we need a full daily candle close above kijun seen, to enter trade long in this example, so my entry was too early.
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  • #27
  • May 26, 2009 1:28pm May 26, 2009 1:28pm
After looking a bit closer target for eur/cad is more 1.53.

This is 100 % fibo extension, lower part of the weekly cloud plus
chinkous span in the past.
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  • #28
  • May 26, 2009 1:39pm May 26, 2009 1:39pm
coincident:

we have a bullish cross for gbp/nzd. This is a good reliable trade signal, but it happens below the cloud, so this signal has low reliabillity (below the cloud we are in a bear market !).

If the cross would happen above the cloud, it is more reliable.

More interesting is the full daily close below the kijun sen
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  • #29
  • May 26, 2009 1:52pm May 26, 2009 1:52pm
This is a nice ichimoku painting, which gives lot of information for traders, who are able to read ichimoku:

The price breaks throuh the cloud. One strategy to trade ichimoku is to trade a full break through the cloud. Go long, after full daily close above the cloud.

With luck, price turns back to test the cloud as a new support and gives better entry. From now on, price is in BULL market

This happens today.

Notice the chinkou span (the green line). Chinkou span has been gone through the price too, this is confirmation for the long trade.

The kijun sen (blue line) is not flat, it is in strong degree angle UP. This is also a bullish indication.
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  • #30
  • May 26, 2009 2:01pm May 26, 2009 2:01pm
Notice on eur/jpy how the cloud gives support on daily time frame,

and the kijun sen on the 4 h chart.
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  • #31
  • May 26, 2009 2:05pm May 26, 2009 2:05pm
Quoting peaches
This is a nice ichimoku painting, which gives lot of information for traders, who are able to read ichimoku:

The price breaks throuh the cloud. One strategy to trade ichimoku is to trade a full break through the cloud. Go long, after full daily close above the cloud.

With luck, price turns back to test the cloud as a new support and gives better entry. From now on, price is in BULL market

This happens today.

Notice the chinkou span (the green line). Chinkou span has been gone through the price too, this is confirmation for the long trade....

thanx brother for clear explanation your methods..

i have stupid quastion .. what Pair this Chart?? and how can i got it in my platform MT4 FXDD ?

thanx in advance.
Never sell @ lower upward channel unless breacked and vise versa .
  • #32
  • May 26, 2009 2:18pm May 26, 2009 2:18pm
Quoting WedWed
thanx brother for clear explanation your methods..

i have stupid quastion .. what Pair this Chart?? and how can i got it in my platform MT4 FXDD ?

thanx in advance.
Hi wedwed,

oh, this "pair" is xau/usd, which is in simple words: gold.

I don´t know if your broker offer gold . I trade with http://www.liteforex.org/ who allows me testing ichimoku-/ tom demark system with very small money.
  • #33
  • May 26, 2009 2:44pm May 26, 2009 2:44pm
Next setup for a bullish trade:

Notice how price react to the blue kijun sen.

Of cause inside the cloud is no trade area, but a kumo break to the upside, and then a re-test if this new support is solid would be a nice trading plan.
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  • #34
  • May 26, 2009 2:51pm May 26, 2009 2:51pm
usd/lfx is tricky.

After break of the weekly cloud, we see today re-test of the cloud.

Why not go with the trend ? Next stop 1.77.
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  • #35
  • May 26, 2009 4:06pm May 26, 2009 4:06pm
[quote=peaches;2739039]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.


Hi Peaches.

It is very interesting treading system and it is a good idea of making two systems work together.
Could you tell me please that:
Tenken-sen = 9
Kijun-sen =26
Senkou Span =52 or eny other numbers of parameter, and can I understand that: “on 9 consecutive closes less than the close 4 candles ago (for a downtrend)”
The word in bolt means closes lower than … last four candles …etc.


Sorry to have stupid question and thanks in advance. Also thanks for sharing and clear explanation your methods.

MacMG.
  • #36
  • May 27, 2009 6:39am May 27, 2009 6:39am
i can only say to all the traders that this thread can useful for all the traders
please use from peaches' posts
  • #37
  • May 27, 2009 10:36am May 27, 2009 10:36am
Hi MacMG,

sorry for the delay, but I have regular work most of the time.

For settings in the ichimoku indicator, I left them at standard Tenken-sen = 9, Kijun-sen =26, Senkou Span =52 on all timeframes (daily, 4 h,weekly).

There is a debate to change these numbers, but sometimes Iám old fashion

Watch here: for explanation: http://www.kumotrader.com/ichimoku_w...imoku_Settings

The tom demark sequence is not easy to understand at the first glance. The principle is, that price will go sideway or shortterm down after 9 periods of time up, then it will go in the direction of the 9 periods (up).

A short tutorial for TD is here:

http://www.researchlabtrading.com/public/382.cfm

And here a chart, maybe it helps:

The close on day B is greater than or equal to the close on day A.
The next day's close is less than the close four days earlier and is counted as day one of the setup. Note how price bottomed out on the ninth day of the setup.

I have had extensive search for TD sequence indikator for MT4, there is none, which is working good.



[quote=MacMG;2758101]
Quoting peaches
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...
Attached Image
  • #38
  • May 27, 2009 10:44am May 27, 2009 10:44am
Quoting hussin naiji
i can only say to all the traders that this thread can useful for all the traders
please use from peaches' posts
Hi hussin, very welcome
  • #39
  • May 27, 2009 10:52am May 27, 2009 10:52am
euro light index (eur/lfx):

I hate losing trades, but they happen. But what makes my crazy is, that I have trading rules, and I ignore them:

Below a daily kumo cloud never go long, below a kumo cloud is bear land.

Now add to this rule this international warning and stop signal, this daily candle, and have knowladge, that kumo cloud is powerfull resistance.

Who could ever go long
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  • #40
  • May 27, 2009 10:57am May 27, 2009 10:57am
for gods sake, there are winning trades. The tricky bit, is, to have more winners then losers.

If GU does not turn immediatly, it will break through this resistance, and next tagret is far above.
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