Yes, you do but the signal was last night. Of course, it's a daily trade so you'd be in it for the long run but your stop will need to be a bit wider than if you had got in lastnight. Be careful around the support zone at 1.6100 ish
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Cheers SanMiguel, I might wait to enter either on the 1hr or 4hr signal.
Cheers
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
I think the pair is going to consolidate now... it has already reached the daily range and is near the 90.00 resistance... to me it is not the right time to enter a trade.. just my opinion..
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Hi Keyser
Thanks for sharing, I am learning lots in this thread.
Cheers
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
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Joined Sep 2009
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Status: Price Action
|463 Posts
Morning Everyone,
Glad to see you guys bringing home the green backs today !
Any way as a newbie to the system I just wanted to point out a couple of things....if I may be so bold !
1) Vic, I only just read the "Ichimokuwiki" its an excellent piece and really details how to use this awesome system and what to consider when using it. I would suggest that anyone that comes onto this forum should be pointed to that first....it would save you having to repeat yourself, which I have to say you do with extreme patience and generosity. Maybe you could pin it to #1 on the thread.
2) On the template I also found that now I understand things more clearly, the Kumo is illustrated in the opposite colours to the candles, which in my opinion are the logical choice for buy (green) and sell (Red). I have switched my Kumo Colours round now to match the candles as to me it helps corrolate everthing easier, as I now realise how important reading the Kumo correctly is.
Anyway....not meant in anyway to undermine anything...I mean you have freely given us all a great trading tool to work with, so thanks for that, but just wanted to offer any help for newbies like myself who were trying to get there heads around things !
Glad to see you guys bringing home the green backs today !
Any way as a newbie to the system I just wanted to point out a couple of things....if I may be so bold !
1) Vic, I only just read the "Ichimokuwiki" its an excellent piece and really details how to use this awesome system and what to consider when using it. I would suggest that anyone that comes onto this forum should be pointed to that first....it would save you having to repeat yourself, which I have to say you do with extreme patience and generosity. Maybe you...
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Hello ab1, Can you please indicate which post is that , post number ?
Anyone who trades GBPJPY, do you think the retraces often move past the Ks and regularly test the kumo instead? I am wondering whether to bank some pips after this large move because it's bound to retrace after that - it has done it's ADR in a matter of hours today.
Strictly speaking this is a 4hr trade and I should let it run but this is such a big move.
Anyone who trades GBPJPY, do you think the retraces often move past the Ks and regularly test the kumo instead? I am wondering whether to bank some pips after this large move because it's bound to retrace after that - it has done it's ADR in a matter of hours today.
Strictly speaking this is a 4hr trade and I should let it run but this is such a big move.
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Morning
Personally I would aways have a 1st target and bank half when hit. Then bring my stop to breakeven and let the second half roll !...
I am short USD/JPY. I expect some consolidation but further downward movement soon.
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i was short too.. but i was kinda feeling that a retracement was around the corner..
so i took a 10 pip scalp.. and now waiting for news to move themarket
In my experience when the market really flies like it has there are always opportunities to jump back in because equilibrium needs to reassert itself at some point.
If you get out and bank your pips, you'll probably see a new entry in the next 24 hours anyway but when you re enter your equity will be larger than when it retraces so theoretically you will have a large lot size available to you when you reenter.
Not sure if that reads as simply as it is so let me know either way.
If you have a graceful pair like the U/J etc it will float down and you can just leave it however banking 200+ pips is enough to say, ok I'll jump out with the green and wait to get back in when it is better value.
My thoughts, if you do stay in though good luck to you!!
Yes a crystal ball would be handy in this business !......lol
Can Ichi give us a clue ? 1.6244 looks like strong resistance ? I think ? looking at the previous flat on the Kumo.
ab1
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"Strong" resistance bit me yesterday on an A/U trade. That was more my fault for not waiting for the candle to close but price did break the resistance for almost 8hrs. Hope this one works out for you.
I have also G/U.
