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Ichimoku forever

  • #4,701
  • Oct 6, 2009 11:25pm Oct 6, 2009 11:25pm
Quoting fxScavenger
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.
Thanks for that advice - I have been stung esp e/j
  • #4,702
  • Oct 6, 2009 11:25pm Oct 6, 2009 11:25pm
Quoting fxScavenger
What the Asian Session giveth the Euro Session taketh away.
To get a really good grasp on this I suggest for homework you take a look at the M15 E/G chart and draw a box for the Tokyo session for the last five or six sessions.

Homework questions:
1. What happens when Frankfurt/London opens?
2. If the price breaks out of the Tokyo high/low what happens? (bonus credit if you can determine fakeouts of the Tokyo high/low)
3. Can you explain why this phenom occurs almost daily without fail?
  • #4,703
  • Oct 6, 2009 11:27pm Oct 6, 2009 11:27pm
Quoting kharvell
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...
Yes it does Thanks Kevin.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,704
  • Oct 6, 2009 11:35pm Oct 6, 2009 11:35pm
Quoting sinner-
To get a really good grasp on this I suggest for homework you take a look at the M15 E/G chart and draw a box for the Tokyo session for the last five or six sessions.

Homework questions:
1. What happens when Frankfurt/London opens?
2. If the price breaks out of the Tokyo high/low what happens? (bonus credit if you can determine fakeouts of the Tokyo high/low)
3. Can you explain why this phenom occurs almost daily without fail?
1) I know the Franfurt open happens about an hour b4 Big Ben
2) I know every time I got headfaked has happend during this time
3) have no Idea why eccept some kind of start of day currency exchange between Frankfurt and London has been my guess. (where can I find these answers for sure)

I
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,705
  • Oct 6, 2009 11:42pm Oct 6, 2009 11:42pm
Quoting Joe GX
Thanks for that advice - I have been stung esp e/j
Your welcome Joe, and may I sugest you check out what Sinner has been talking to me about in the last couple of posts about the Frankfurt and London open. - this guy knows a lot.

Check out the home work He gave me, you should check it out too maybe.

4xAddict knows a lot also, so if he comes in tonight ask him stuff, He'll clear you head.

Hey I hit 200 posts, Happy Birthday to me.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,706
  • Oct 6, 2009 11:44pm Oct 6, 2009 11:44pm
Quoting fxScavenger
Your welcome Joe, and may I sugest you check out what Sinner has been talking to me about in the last couple of posts about the Frankfurt and London open. - this guy knows a lot.

Check out the home work He gave me, you should check it out too maybe.
Shut up I'm busy drawing boxes
  • #4,707
  • Oct 6, 2009 11:44pm Oct 6, 2009 11:44pm
So remember, we are trying to understand why exactly Asian session often retraces the previous NY move and then FO/LO resumes the trend.

It will take me a long time to explain it if I write it out in a post, best thing you can do is go to your charts and draw a box around the Tokyo session and you will see plain as day what is happening every day with E/G (think in terms of Euro and GBP money flows).
  • #4,708
  • Oct 6, 2009 11:49pm Oct 6, 2009 11:49pm
Also this concept helps a lot and you should always keep it in your mind:

In forex there is no such thing as buying and selling like you know in the stockmarket or commodities.

The forex PA is simply a big hungry snake and it will go wherever the orders are. If it is undecided (rangebound) on whether to eat bids or offers, it will get even hungrier and go back to the last place it remembers food. If it has got a taste for bids or offers (one or the other) it will try and find the food it likes.

Every day during Tokyo: the E/G snake is undecided.
  • #4,709
  • Oct 6, 2009 11:55pm Oct 6, 2009 11:55pm
Yes it seems like the Asian session retraces the NY session and then continues the trend. Same goes for the London sesion. Retraces the Asian session and then continues the trend - usually a nice increase in trend. Still not really sure as to why it retraces.

Quoting sinner-
So remember, we are trying to understand why exactly Asian session often retraces the previous NY move and then FO/LO resumes the trend.

It will take me a long time to explain it if I write it out in a post, best thing you can do is go to your charts and draw a box around the Tokyo session and you will see plain as day what is happening every day with E/G (think in terms of Euro and GBP money flows).
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  • #4,710
  • Oct 7, 2009 12:01am Oct 7, 2009 12:01am
Quoting antonioforex
Yes it seems like the Asian session retraces the NY session and then continues the trend. Same goes for the London sesion. Retraces the Asian session and then continues the trend - usually a nice increase in trend. Still not really sure as to why it retraces.
I've always thought it was big boys in banks kind of letting themselves get in where they left off yesterday
  • #4,711
  • Oct 7, 2009 12:05am Oct 7, 2009 12:05am
Quoting sinner-
Also this concept helps a lot and you should always keep it in your mind:

In forex there is no such thing as buying and selling like you know in the stockmarket or commodities.

The forex PA is simply a big hungry snake and it will go wherever the orders are. If it is undecided (rangebound) on whether to eat bids or offers, it will get even hungrier and go back to the last place it remembers food. If it has got a taste for bids or offers (one or the other) it will try and find the food it likes.

Every day during Tokyo: the E/G snake is undecided....
Thanx man this is great stuff to work on.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,712
  • Oct 7, 2009 12:05am Oct 7, 2009 12:05am
Yes, but there is a retracament during their session. I don't know. I am way too tired. It's 1am here.

Quoting Joe GX
I've always thought it was big boys in banks kind of letting themselves get in where they left off yesterday
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  • #4,713
  • Oct 7, 2009 12:12am Oct 7, 2009 12:12am
Maybe it is a hard concept to understand.

At Tokyo open, where are are all the bids/offers? Wherever the EU/NY session PA dictated, right?

So what must the snake do? It must eat, it goes to find the orders. Since aside from a few currencies (Oceanea and Asia currencies as well as USD) there is no real money flows happening all the snakes will move together to find their food (generally in the same place).

This is the market retracing.

Without money flows, what does the group of snakes hunting look like? Well we can see it in E/G every day during Tokyo it looks like rangebound crap for 8 hours. Relative value of the two currencies will not change much, since they are both looking for the same food.

I will try and write some more if you do not understand it yet.

Try and think what happens at FO. Suddenly there is food for the snakes to eat, not necessarily in the same direction anymore.
  • #4,714
  • Oct 7, 2009 12:23am Oct 7, 2009 12:23am
Quoting sinner-
Maybe it is a hard concept to understand.

At Tokyo open, where are are all the bids/offers? Wherever the EU/NY session PA dictated, right?

So what must the snake do? It must eat, it goes to find the orders. Since aside from a few currencies (Oceanea and Asia currencies as well as USD) there is no real money flows happening all the snakes will move together to find their food (generally in the same place).

This is the market retracing.

Without money flows, what does the group of snakes hunting look like? Well we can see it in E/G every day...
Ok so what I see from the boxes is at the end of the asian session the PA either consolidates or reverses
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,715
  • Oct 7, 2009 12:31am Oct 7, 2009 12:31am
Quoting fxScavenger
Ok so what I see from the boxes is at the end of the asian session the PA either consolidates or reverses
OK so if the EU needs money there will be a sell of of the EJ, But if others want or need the Euro there will be a lot of buying of it.

This initial buying and selling mostly takes place during the Frankfurt open?
Is the EURO central bank in Frankfurt?
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,716
  • Oct 7, 2009 12:35am Oct 7, 2009 12:35am
Quoting fxScavenger
OK so if the EU needs money there will be a sell of of the EJ, But if others want or need the Euro there will be a lot of buying of it.

This initial buying and selling mostly takes place during the Frankfurt open?
Is the EURO central bank in Frankfurt?
You are getting there I think. It doesn't matter which central bank or whatever. At FO a crapload of European countries come open (including German Central Bank and SNB), dealing desks and traders are all turning on their terminals.

Money flow. What you are seeing at FO/LO (LO is 1h before Tokyo close!) is bids and offers hitting the market, the snakes will stop hunting together and go to the mouse (or whatever it is snakes eat) they can smell.
  • #4,717
  • Oct 7, 2009 12:41am Oct 7, 2009 12:41am
tnx kevin

Quoting kharvell
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
  • #4,718
  • Oct 7, 2009 12:43am Oct 7, 2009 12:43am
I want to go home guys. I will try and think some more about explaining this because am afraid my E/G example might confused you.
  • #4,719
  • Oct 7, 2009 12:46am Oct 7, 2009 12:46am
Quoting sinner-
You are getting there I think. It doesn't matter which central bank or whatever. At FO a crapload of European countries come open (including German Central Bank and SNB), dealing desks and traders are all turning on their terminals.

Money flow. What you are seeing at FO/LO (LO is 1h before Tokyo close!) is bids and offers hitting the market, the snakes will stop hunting together and go to the mouse (or whatever it is snakes eat) they can smell.
Ok So the London market opens and all the traders see the yen is low and if they need yen it is a good time to buy but if they don't need yen they go looking for waht it is they need to buy or sell. so this initial start of day buying or selling headfake is london getting the currencies it needs to do business.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #4,720
  • Edited 1:07pm Oct 7, 2009 12:50am | Edited 1:07pm
Quoting sinner-
I want to go home guys. I will try and think some more about explaining this because am afraid my E/G example might confused you.
I would love to keep on too but its getting reel lat and my eyes are blurinn up and my dizlexia is kicking in.

Thanks for the (tutaourlige) Sinner.

Thanks for your tutoring effort.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
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