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Ichimoku forever

  • #4,681
  • Oct 6, 2009 9:28pm Oct 6, 2009 9:28pm
Quoting antonioforex
Be careful with the EUR/JPY 15M. Make sure Chikou span clears and price breaks the S1.
Good advice
  • #4,682
  • Oct 6, 2009 9:56pm Oct 6, 2009 9:56pm
Quoting Pharoah
Ya, I noticed that too, but then I thought about the wording used, as when you have something prior to base from, such as the many many many many many faults of human kind throughout the ages, it seems to me to be more common sense than prediction. Kinda like saying:

"When you take someones money, it makes it harder for them to feed themselves, causing them to do things they would never have done in the past"
Pharoah from FF

See?
Prediction, Common sense, either way, The Dude was still pretty sharp and spot on.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,683
  • Oct 6, 2009 9:59pm Oct 6, 2009 9:59pm
Quoting fxScavenger
Prediction, Common sense, either way, The Dude was still pretty sharp and spot on.
Oh definitely, there's no question about that, very smart man that could see things like none other. I consider myself to be smart... but TJ smart is another question lol
  • #4,684
  • Oct 6, 2009 10:20pm Oct 6, 2009 10:20pm
Quoting Pharoah
Oh definitely, there's no question about that, very smart man that could see things like none other. I consider myself to be smart... but TJ smart is another question lol
So What pair are you concentrating on?

Me, AUDUSD & NZDUSD.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,685
  • Oct 6, 2009 10:22pm Oct 6, 2009 10:22pm
Quoting oman21
hi kevin, i noticed that your settings for ichi is 7,22,44 , can i ask why do you use this settings?
Hi oman,

Good question. Not really too much logic behind my settings other than they come as the default settings with my broker (Oanda). Considering I use ichimoku on daily mostly, the 7 seemed good enough to keep, as 7 makes a week.

Honestly, these settings will not make or break you, whatever you use will be fine.

Good luck to you,

Kevin
  • #4,686
  • Oct 6, 2009 10:29pm Oct 6, 2009 10:29pm
Hey Guys,

Whats up with Vic? Haven't seen him around for a bit. Is he OK?
I know the J O B was bringing him down.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,687
  • Oct 6, 2009 10:34pm Oct 6, 2009 10:34pm
Quoting fxScavenger
Hey Guys,

Whats up with Vic? Haven't seen him around for a bit. Is he OK?
I know the J O B was bringing him down.
He is fine but a bit busy all this week mate.
  • #4,688
  • Oct 6, 2009 10:39pm Oct 6, 2009 10:39pm
Quoting fxScavenger
So What pair are you concentrating on?

Me, AUDUSD & NZDUSD.
I'm watching the ?/J pairs, because they are mostly all heavily correlated due to JPY being beaten up like a nerd in 1980. But mainly EURJPY and GBPJPY because those 2 in particular are around 90% correlated.
  • #4,689
  • Oct 6, 2009 10:42pm Oct 6, 2009 10:42pm
Quoting sinner-
He is fine but a bit busy all this week mate.
I guess He's still got those meetings going on.

It's been quiet, and I only saw 3 Weekly reports posted this week, which I look forward to reading.

The aud$ & the NZD$ have been going gang busters this week. Especially after the AUD rate increase.
The AUD$ could break it's last years high the way it's going.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,690
  • Oct 6, 2009 10:44pm Oct 6, 2009 10:44pm
Quoting fxScavenger
I guess He's still got those meetings going on.

It's been quiet, and I only saw 3 Weekly reports posted this week, which I look forward to reading.

The aud$ & the NZD$ have been going gang busters this week. Especially after the AUD rate increase.
The AUD$ could break it's last years high the way it's going.
AUD targets are around the 0.9053 zone I believe.

As long as commodities hold up, equities hold up and that really really flat Treasury yield curve doesn't come to bite anyone in the arse
  • #4,691
  • Oct 6, 2009 10:47pm Oct 6, 2009 10:47pm
Quoting sinner-
AUD targets are around the 0.9053 zone I believe.

As long as commodities hold up, equities hold up and that really really flat Treasury yield curve doesn't come to bite anyone in the arse
0.9053 Golly Gee, I guess I still have time to get in long then .
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,692
  • Oct 6, 2009 10:50pm Oct 6, 2009 10:50pm
Quoting fxScavenger
0.9053 Golly Gee, I guess I still have time to get in long then .

Treasury yield curve? US or Ausi? I'm not at all hip with fundamentals yet.

I'm trying to learn but I mostly am best with technicals.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,693
  • Oct 6, 2009 10:55pm Oct 6, 2009 10:55pm
Quoting fxScavenger
Treasury yield curve? US or Ausi? I'm not at all hip with fundamentals yet.

I'm trying to learn but I mostly am best with technicals.
Just read these sites religiously:

globaleconomicanalysis.blogspot.com
www.zerohedge.com
www.nakedcapitalism.com

You will be funnymental in no time.

E/J short plan still in full effect: just exited 0.6 lots of 0.8 on the spike down to 130.5 and will let the rest ride.
  • #4,694
  • Oct 6, 2009 10:59pm Oct 6, 2009 10:59pm
Just wanted to explain my long E/U bias.

Chart #1 - Daily

 

  1. Chikou span above price in the past (Cyan line)
  2. Green Kumo
  3. Looks like Tenkan-sen (blue) is about to cross below Kijun-sen (red), which is usually a short sign; HOWEVER, Kijun-sen remains positively sloped.

Chart #2 - 3 hour

 

  1. Price breaks out of Kumo which is green in the future (bullish)
  2. Good place to enter long is at previous long flat kumo lines and/or recent flat Kijun-sen (red, indicates support)
  3. These flat lines are considered discount prices for a good trade; i.e. you are entering with the trend at a better price.


Good luck

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  • #4,695
  • Oct 6, 2009 11:04pm Oct 6, 2009 11:04pm
Quoting sinner-
Just read these sites religiously:

globaleconomicanalysis.blogspot.com
www.zerohedge.com
www.nakedcapitalism.com

You will be funnymental in no time.

E/J short plan still in full effect: just exited 0.6 lots of 0.8 on the spike down to 130.5 and will let the rest ride.
Thank you for the links, and well done with the EJ.

Thats your 80% 20% plan right. 80% off the table in profit and 20% go for broke or 1,000 pips which ever comes first.
Dude - your the man.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,696
  • Oct 6, 2009 11:13pm Oct 6, 2009 11:13pm
Quoting kharvell
Just wanted to explain my long E/U bias.

Chart #1 - Daily

 

  1. Chikou span above price in the past (Cyan line)
  2. Green Kumo
  3. Looks like Tenkan-sen (blue) is about to cross below Kijun-sen (red), which is usually a short sign; HOWEVER, Kijun-sen remains positively sloped.

Chart #2 - 3 hour
[list][*]Price breaks out of Kumo which is green in the future (bullish)[*]Good place to enter long is at previous long flat kumo lines and/or recent flat Kijun-sen (red, indicates support)[*]These flat lines are considered discount prices...

I noticed you don't use the lower Tfs as Vic recomends.

When you use Higher TFS like yours, how long does it take to move into profit?

ANd what kind of draw down do you expect?
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,697
  • Oct 6, 2009 11:15pm Oct 6, 2009 11:15pm
Quoting fxScavenger
0.9053 Golly Gee, I guess I still have time to get in long then .
Looks like a pull back to the cloud and a cross in play on the 30min
  • #4,698
  • Oct 6, 2009 11:19pm Oct 6, 2009 11:19pm
Quoting fxScavenger
Thank you for the links, and well done with the EJ.

Thats your 80% 20% plan right. 80% off the table in profit and 20% go for broke or 1,000 pips which ever comes first.
Dude - your the man.
I trade oversized for small TP levels to make the profit which is not actually "profit" but acts to increase my total margin available i.e. next trade I can trade normal size for free or designate the "profit" as reserved for the SL of the remaining positions on the table so I can trade the next lot at normal size (rather than reduce lot size because positions on table reduces total margin available).

The goal is to build positions up over the entire wave.
  • #4,699
  • Oct 6, 2009 11:20pm Oct 6, 2009 11:20pm
Quoting fxScavenger
I noticed you don't use the lower Tfs as Vic recomends.

When you use Higher TFS like yours, how long does it take to move into profit?

ANd what kind of draw down do you expect?
Hi scavenger,

I'm not sure how vic trades as I have my own ways of Ichimoku (as everyone should), but I find that on lower timeframes, there is more noise, and that I have to sit around my computer all day: boring. I like to use the daily flat lines, which are much more meaningful on the higher timeframes anyway.. Setting orders is definitely a possibility as you become more confident.

Using flat lines as support/resistance, you can expect to profit pretty regularly; it's just about only entering with the trend, and shooting for reasonable targets: ex. a recent bump in the tenkan-sen for a target and/or S/L.

Flat Kumo lines make the most meaningful support/resistance.

I'm sure there's more but that's all I can think of right now.

Hope this helps,

Kevin
  • #4,700
  • Oct 6, 2009 11:21pm Oct 6, 2009 11:21pm
Quoting Joe GX
Looks like a pull back to the cloud and a cross in play on the 30min
Hey Joe.

Yes a bounce off the cloud on the 30m and a bounce off TS on the H1.

If the PA breaks todays high with some mom comitment I might go in.

But I'm waiting to see the euro session open. We have a saying here in California.

What the Asian Session giveth the Euro Session taketh away.

And The asians hve given us a lot since Sunday.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
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