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Ichimoku forever

  • #2,021
  • Sep 10, 2009 7:26am Sep 10, 2009 7:26am
Looks like today was 'reversal' day... I stayed out as per my weekly/daily signal restraint.

Tea anyone?
  • #2,022
  • Sep 10, 2009 7:33am Sep 10, 2009 7:33am
Hi Everyone,

Following up on Vic's U/J trade from yesterday, I have attached a few charts with trend support and resistance lines on them which are quite interesting.

All charts show a narrowing wedge trading pattern on this pair hinting that there will either be an upward break of very long term resistance (Strong) or a downward continuation will occur.

My money is on the down trend continuing - literally

Cheers

EDIT - Note we've just taken the 5min support trend line on the break. Nice work VIC!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uy 5min chart 20090910.jpg Size: 229 KB
Click to Enlarge Name: uy 15min chart 20090910.jpg Size: 233 KB
Click to Enlarge Name: uy 1hr chart 20090910.jpg Size: 238 KB
Click to Enlarge Name: uy 4hr chart 20090910.jpg Size: 248 KB
Click to Enlarge Name: uy weekly chart 20090910.jpg Size: 233 KB
Click to Enlarge Name: uy monthly chart 20090910.jpg Size: 227 KB
  • #2,023
  • Sep 10, 2009 7:37am Sep 10, 2009 7:37am
Possible short on the USDJPY right now....
Attached Image (click to enlarge)
Click to Enlarge Name: southbound.gif Size: 20 KB
  • #2,024
  • Sep 10, 2009 7:43am Sep 10, 2009 7:43am
Let's see if the U/J breaks the 91.75 line!
  • #2,025
  • Sep 10, 2009 7:44am Sep 10, 2009 7:44am
Quoting drwasho
Possible short on the USDJPY right now....
Nearest resistance is 91.61, if you can get in on a decent retrace everyone you should consider this trade. Look for it to hit maybe 91.90 or so to give at least a 20pip target. 92.10 will be hard to break as resistance now as SL and will provide the 1:1 minimum risk reward ratio that we look for.

I'm with the Doc on this one
  • #2,026
  • Sep 10, 2009 7:47am Sep 10, 2009 7:47am
Well it was a short trade but I got out at the latest candle... was content on my 14 pip gain... we'll see if the massive support level breaks.
Attached Image (click to enlarge)
Click to Enlarge Name: i am out.gif Size: 17 KB
  • #2,027
  • Sep 10, 2009 7:48am Sep 10, 2009 7:48am
Quoting 4xAddict
Nearest resistance is 91.61, if you can get in on a decent retrace everyone you should consider this trade. Look for it to hit maybe 91.90 or so to give at least a 20pip target. 92.10 will be hard to break as resistance now as SL and will provide the 1:1 minimum risk reward ratio that we look for.

I'm with the Doc on this one
booked 10pip profit. now waiting for re-entry on retrace.
  • #2,028
  • Sep 10, 2009 7:55am Sep 10, 2009 7:55am
Quoting 4xAddict
Nearest resistance is 91.61, if you can get in on a decent retrace everyone you should consider this trade. Look for it to hit maybe 91.90 or so to give at least a 20pip target. 92.10 will be hard to break as resistance now as SL and will provide the 1:1 minimum risk reward ratio that we look for.

I'm with the Doc on this one
If it goes south of 91.6, i think continued shorts up to 87.22 are possible... ohhh so interesting, USDCAD and AUDUSD are moving too.
  • #2,029
  • Sep 10, 2009 8:01am Sep 10, 2009 8:01am
Quoting drwasho
If it goes south of 91.6, i think continued shorts up to 87.22 are possible... ohhh so interesting, USDCAD and AUDUSD are moving too.
Hey Doc,

What are you thoughts about the present currency movements?

We're seeing decent weakness again from the USD vs the JPY however the other USD pairs are not running up as steeply with the exception of the G/U which has the news release on its side.

I think we are starting to see this risk rally being to run out of steam!

I like the NZD in particular for a sell off the 70.00 round number. Pity each pip isn't worth as much!
  • #2,030
  • Sep 10, 2009 8:03am Sep 10, 2009 8:03am
Quoting 4xAddict
Hey Doc,

What are you thoughts about the present currency movements?

We're seeing decent weakness again from the USD vs the JPY however the other USD pairs are not running up as steeply with the exception of the G/U which has the news release on its side.

I think we are starting to see this risk rally being to run out of steam!

I like the NZD in particular for a sell off the 70.00 round number. Pity each pip isn't worth as much!
Also, what do you think about AUD/USD? its climbing steadily .. the ichi isn't showing clear results, but the rate of ascent is real good
  • #2,031
  • Sep 10, 2009 8:08am Sep 10, 2009 8:08am
Warriors my first GBP USD deal in my life just closed now with 100 pip

just opened my eyes and found it hit th TP , as usual the best is always when i am asleep

am still in short USD JPY

wish u all luck

love you Ichimokyyyyyyy
  • #2,032
  • Sep 10, 2009 8:09am Sep 10, 2009 8:09am
Quoting hitman047
Also, what do you think about AUD/USD? its climbing steadily .. the ichi isn't showing clear results, but the rate of ascent is real good
Hitman, the A/U is definitely in a strong upward trend - there is no doubt.

I will check the charts and get back to you shortly - don't want to make a call on something that I haven't looked at .

Cheers.
  • #2,033
  • Sep 10, 2009 8:10am Sep 10, 2009 8:10am
Quoting 4xAddict
Hey Doc,

What are you thoughts about the present currency movements?

We're seeing decent weakness again from the USD vs the JPY however the other USD pairs are not running up as steeply with the exception of the G/U which has the news release on its side.

I think we are starting to see this risk rally being to run out of steam!

I like the NZD in particular for a sell off the 70.00 round number. Pity each pip isn't worth as much!
Yeah a lot of the other currencies didn't move like the USDJPY did, unlike the last two days... so I agree, the rally may be running out of a lot of steam.

I just find it interesting that the USDCAD, AUDUSD and the USDJPY have had these very pronounced movements along with the price of gold... so the commodity currencies have strengthened along with gold while the US dollar weakened. So maybe that is starting to slow down, who knows? Have to keep watching the charts.

God bless,

Doc
  • #2,034
  • Sep 10, 2009 8:16am Sep 10, 2009 8:16am
Quoting vic_elc
Warriors my first GBP USD deal in my life just closed now with 100 pip

just opened my eyes and found it hit th TP , as usual the best is always when i am asleep

am still in short USD JPY

wish u all luck

love you Ichimokyyyyyyy
what's your TP on usd/jpy?
  • #2,035
  • Sep 10, 2009 8:17am Sep 10, 2009 8:17am
Hitman,

Check the 1hr chart on the A/U and the most recent candle has had a real crack at busting the kumo and been denied quite strongly.

I would be waiting until 1hr TS/KS has crossed upwards TS closes above kumo along with the most recent candle..

I get a bit hesitant on the Aussie after such fast run ups due to the number of issues that can smack it quickly i.e anything bad from
1. China
2. Oil
3. Gold
4. Various commodities
5. Risk appetite reducing due to falls on OS markets etc.

86.00 is a psychologically important value as it is likely to attract SL's and sell order interest like any round number.

Once we're above 86.20-30 again I would be looking for a 5min signal.

Cheers.
  • #2,036
  • Sep 10, 2009 8:18am Sep 10, 2009 8:18am
Quoting hitman047
what's your TP on usd/jpy?
am testing this position on the 4Hrs and moving my stop with Ks, a long term deal
  • #2,037
  • Sep 10, 2009 8:21am Sep 10, 2009 8:21am
Quoting 4xAddict
Hitman,

Check the 1hr chart on the A/U and the most recent candle has had a real crack at busting the kumo and been denied quite strongly.

I would be waiting until 1hr TS/KS has crossed upwards TS closes above kumo along with the most recent candle..

I get a bit hesitant on the Aussie after such fast run ups due to the number of issues that can smack it quickly i.e anything bad from
1. China
2. Oil
3. Gold
4. Various commodities
5. Risk appetite reducing due to falls on OS markets etc.

86.00 is a psychologically important value...
I would add to that a monstrous housing bubble that hasn't popped yet...
  • #2,038
  • Sep 10, 2009 8:26am Sep 10, 2009 8:26am
Hello, Warriors! After having studied the thread thoroughly (I have been reading it and absorbing everything from the beginning), I made my first trade this morning.

I shorted USD/CHF around 6 gmt (europe open): all TFs were in agreement (from daily to 1 min), I made my entry on 1 min (a strong bearish cross), also there was no support close to price.
Unfortunately, it became a losing trade and hit my SL which was on the top of the cloud and then reversed completely. I will attach the charts later today and will be very grateful if you could comment on that trade and correct me where my thinking was wrong.

Kind Regards,

Peter
  • #2,039
  • Sep 10, 2009 8:26am Sep 10, 2009 8:26am
Ahhh, finally i find this useful n wonderful thread. So guys.....I already read some pages n got millions information here (n still more to read!!). Nice To see you all.
  • #2,040
  • Sep 10, 2009 8:31am Sep 10, 2009 8:31am
Quoting drwasho
I would add to that a monstrous housing bubble that hasn't popped yet...
Mate,

I am from Melbourne myself and I hear you on that one!!

My friends have been asking me why I haven't bought a place and I keep telling them that they are buying hot air. It's OK if you bought in 2000-2003, not now.

When all the people starting to retire begin needing to cash in on their equity and find the banks don't like reverse morgages anymore then the glut of "Investment/retirement" properties should make it a buyers market for what, 3-5 years?

Admittedly in Melbourne anyway we have really strong immigration trying to add a little support to it however the Gov numbers on how they work out the "rental vacancy rate" are complete bollocks and political posturing. Have you read what makes them up, "well, when we add in people living at home with their parents, all the homeless people, the unborn children of all the women currently pregnant and blah blah then we have a housing shortage".


They think we are fools!.

Sorry everyone, politics and religion really shouldn't get started on should they

Cheers
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