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Ichimoku forever

  • #4,901
  • Oct 12, 2009 8:01am Oct 12, 2009 8:01am
We have a bearich divergence EUR/JPY confirmed by a fractal H1 and supported by a daily resistance.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: ichimoku daily.gif Size: 38 KB
  • #4,902
  • Oct 12, 2009 9:35am Oct 12, 2009 9:35am
Just wanted to follow up on my order trades so far this week. Again, I only trade using orders on EUR/USD, using daily and 3-hour ichimoku. Orders are nice because I do not have to sit around watching my computer all day, waiting for the "perfect" set-up, which could still be wrong.

Vic, thank you for starting this thread, as I have been waiting for people to talk to me about ichimoku for literally years. I have to say, you guys over-complicate the ichimoku with reversal patterns, fractals, and god knows what else, but if that's what makes you trade better, then it's all good. Just my opinion for what it's worth...

So anyway, off the pedestal and on to my trading.

Chart #1 - Daily

 

  1. Chikou Span well above price in past = BULL
  2. Thick green kumo cloud in future = BULL (Anyone ever realized kumo cloud thickness indicates trend strength?)
  3. TS-KS cross just occurred for short, but both lines are flat, not sloping downwards (indicates a lot of support) = NEUTRAL

Chart #2 - 3-Hour

Knowing that the trend is bullish due to daily, look for good prices. Right now I have an order set up at the last Kijun-Sen flat line on 3-Hour (Blue square). This area indicates support. S/L set for October 7 low, and T/P for 1.5800 again. Recently had a nice trade from 1.5700 to 1.5800 for 100 pips after a 40 pip loss at the end of last week.

Yes, my way is simple, but it has yielded me over 450 pips since I've been posting at this ichimoku thread (1 week and 1 day), and has been successful for countless times in my trading career. Keep in mind this is only EUR/USD, too.

Not trying to toot my own horn, just food for thought, best of luck everyone,

Kevin

Attached Image(s) (click to enlarge)
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  • #4,903
  • Edited 9:55am Oct 12, 2009 9:42am | Edited 9:55am
Quoting Bull
Hi Thierry,

You can download the PDF that Vic made and post a few minutes ago, here you have the like to view: http://www.forexfactory.com/showpost...postcount=4840

And also, please visit Sinner thread at http://www.forexfactory.com/showthread.php?t=198118 where he explain all about Divergence Bars.

During this week will be discuss some trade on alive, keep in touch to follow us and make any question about this.

Bull
I am a little bit lost :0
It appears from Bull's posts that the trades are entered on the break of the fractal yet on vic's posts, he circles completely different fractals.
eg IN AN UPTREND
vic takes a down fractal as the indication to go long (along with the other factors), whereas Bull takes the break of the most recent UP fractal.
?
  • #4,904
  • Oct 12, 2009 9:45am Oct 12, 2009 9:45am
Quoting SanMiguel
Here's another GBPCHF re-entry trade. I seem to have been shorting GBPCHF for the past 2 weeks now
I could have entered on the bounce off the 30min Ks but I decided to wait for a close under the support area and this coincided with a 30min Ts/Ks cross.
Exited when the CSTL broke for around 70pips.
Hi SanMiguel,

I've been through most pages of the forum but just can't find your top-right corner indicator (or figure out which of the attachments it is). I downloaded "Ichimoku Signal" but it displays differently. Can you point me to your indicator if it is not a commercial version?

Thanks in advance,

Jesper
  • #4,905
  • Oct 12, 2009 9:53am Oct 12, 2009 9:53am
Great treat guys! I'm following it with great interest. Can you please explain or guide me how you use fractals to time entry. Sometimes the fractal points down, but you go long. This part is confusing me.
  • #4,906
  • Oct 12, 2009 10:16am Oct 12, 2009 10:16am
Quoting SanMiguel
vic takes a down fractal as the indication to go long (along with the other factors), whereas Bull takes the break of the most recent UP fractal ?
A long breakout of the most recent up fractal will be simply the Dow theory but personally, I prefer enter earlier in a long trade with a bullish fractal.
Attached Image (click to enlarge)
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  • #4,907
  • Oct 12, 2009 10:31am Oct 12, 2009 10:31am
Quoting Thierry89
A long breakout of the most recent up fractal will be simply the Dow theory but personally, I prefer enter earlier in a long trade with a bullish fractal.
Hi Thierry,

Why do you need fractals when that is a clear bounce off a flat Kumo cloud?
  • #4,908
  • Oct 12, 2009 10:38am Oct 12, 2009 10:38am
Hi everybody,

In the picture below you can see the update of this trade, remember that I'm IN with two long positions opened at point 6 & point 7.

Point 8 was a down fractal, i moved my SL at these level.

And now, after a new down fractal (point 9) I moved again the SL at this point.

If the SL hit right now both trade are in a sweet profit

Will see...
Attached Image (click to enlarge)
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  • #4,909
  • Oct 12, 2009 10:42am Oct 12, 2009 10:42am
Quoting kharvell
Hi Thierry,

Why do you need fractals when that is a clear bounce off a flat Kumo cloud?
Yes kevin, you're right but it is always very clear after and personally, I need a clear signal.
  • #4,910
  • Oct 12, 2009 10:48am Oct 12, 2009 10:48am
Quoting Bull
In the picture below you can see the update of this trade, remember that I'm IN with two long positions opened at point 6 & point 7.
Hi Bull, do you have opened your first long on the TS breakout and your second long on the last up fractal breakout ?
  • #4,911
  • Oct 12, 2009 10:52am Oct 12, 2009 10:52am
Quoting Thierry89
Yes kevin, you're right but it is always very clear after and personally, I need a clear signal.
Why does everyone in this thread have to have a signal to trade? Is it not possible to ascertain a trend and enter at a good price, thus forgoing any sort of signals?

Does anyone realize what signals are? Just mathematical equation based lines based on live price that sometimes cross each other or make certain patterns. I challenge anyone to tell me, what is the true significance of signals?

Take Moving Average crosses for example. If my 8 MA crosses my 12 MA, I have a bull signal, but why? just because the shorter average is higher than the longer average. WHY does this matter?????

Price is the most current indicator. And where price lingers/resists is more important than any indicator I've ever seen.

It's funny how many people enter blindly into forex, just accepting that signals are THE way to trade; and I've been there, system hopping from one to the next, but it will click for everyone someday that this is not the way to trade. Most importantly, use your brain and understand WHAT you are doing and WHY you are doing it. I would be surprised if anyone here knew WHY they were doing a trade other than the ichimoku and fractals told them to.

Good luck,

Kevin
  • #4,912
  • Oct 12, 2009 11:04am Oct 12, 2009 11:04am
Quoting kharvell
Just wanted to follow up on my order trades so far this week. Again, I only trade using orders on EUR/USD, using daily and 3-hour ichimoku. Orders are nice because I do not have to sit around watching my computer all day, waiting for the "perfect" set-up, which could still be wrong.


Kevin
Hi Kevin,

Good for you. I like your method - simple and stress free.

I have 3 other indicators with Ichimoku which helps me better determine better entry and exit points using Daily and 4H as my TF and it is also profitable. Like you, I'm now satisfied with my trading system.

If you don't mind, may I ask what contributed to your losses before (if you had any )?

Thanks.
  • #4,913
  • Oct 12, 2009 11:07am Oct 12, 2009 11:07am
I do not enter blindy into forex kevin and the idea that you have of us is very sectarian.
Do you not use a signal for your trading ? yes of course because the price action is a/your signal.
  • #4,914
  • Oct 12, 2009 11:09am Oct 12, 2009 11:09am
Hi Thierry & San Miguel,

I saw a little confusion about Fractal and DB, and how to trade it.

First of all let me talk about the theory of Factal:

When we talk about Fractal we're talking about five consecutive bars where the highest high (for up or buy fractal) is preceded by two lower highs and followed by two lower highs. Remember this UP Fractal it's only for BUY and DOWN Fractal it's only to SELL.

And following with Bill Williams Strategy, Fractals generate a BUY signals when the UP fractal is above the Alligator teeth we must to place a Buy Stop one tick above the high of the up Fractal. (Obviously opposite for Sell).

Ok, after that, what is a Divergence Bar...

We're following the Sinner definition, where DB is a bar that make a lower low (or highest high) than the 5 previous bars but finishes in green (or red for bullish DB).

And following the Sinner strategy, we open a position on the open of the nex bar.

NOW putting altogether as you can see in my example on CHFJPY, HOW we trade it

if we saw a DB, we can enter on the next bar, as sinner do.
AND we can add an extra position on a break of each fractas, as Williams strategy.

I hope that this help you to understand better, please make any question.
Makes a lower low than the previous 5
Candles but finishes in the green
  • #4,915
  • Oct 12, 2009 11:16am Oct 12, 2009 11:16am
Quoting Thierry89
I do not enter blindy into forex kevin and the idea that you have of us is very sectarian.
Do you not use a signal for your trading ? yes of course because the price action is a/your signal.
Price action is significant and explainable. Please, explain to me why your signal is significant. My questions are still left unanswered. My challenge is not to ruffle yours or anyone's feathers, but to cause us all to think. Why are we doing the things we are doing? Please do not take it personal, just one man sharing his experiences with others; if you don't like it, ignore me.

Take care,

Kevin
  • #4,916
  • Oct 12, 2009 11:21am Oct 12, 2009 11:21am
Quoting fima
Great treat guys! I'm following it with great interest. Can you please explain or guide me how you use fractals to time entry. Sometimes the fractal points down, but you go long. This part is confusing me.
See post 4840
  • #4,917
  • Oct 12, 2009 11:23am Oct 12, 2009 11:23am
Quoting Thierry89
I've opened a short with the fractal strategy and I've got a very good profit this morning with GBP/USD in TF30.

US market will be closed this afternoon so I'll stay out.
Thierry, if you read my last post, you can undestand that the fractal that you mentioned it's a UP Fractal and that mean that you'll buy one pip above NEVER sell after a UP fractal.

Let me show you How I trade the same pair:

Point 1: A Bearish Divergence Bar;
Point 2: Open a short position (as sinner do);
Point 3: Break a Down Fractal and Open a new position (as Williams do);
Point 4: A new break Down Fractal, new position opened;
Point 5: UP Fractal = I move my SL at this level.
Point 6: UP DB = you can exit on the open of the next bar;
Point 7: I close all position at these level (as you see my SL at point 5).


Exit on point 6 or 7 it's your option, I don't exit on point 6 because the candle don't close above the Tenkan sen .
Attached Image (click to enlarge)
Click to Enlarge Name: gbp1.gif Size: 31 KB
  • #4,918
  • Oct 12, 2009 11:25am Oct 12, 2009 11:25am
Quoting red01
Hi Kevin,

Good for you. I like your method - simple and stress free.

I have 3 other indicators with Ichimoku which helps me better determine better entry and exit points using Daily and 4H as my TF and it is also profitable. Like you, I'm now satisfied with my trading system.

If you don't mind, may I ask what contributed to your losses before (if you had any )?

Thanks.
Hi red,

Thanks for saying hi Great question, as losing is always important, because it teaches lessons, cheesy but true. Had two losses last week, basically because I moved my S/L up a little too soon when the trade moved up in my favor, but did not quite hit my T/P. Unfortunately in both cases, my S/L was BARELY hit, so I was picking good S/L numbers (based on ichimoku flat lines), just a victim of forex.

Good luck,

Kevin
  • #4,919
  • Oct 12, 2009 11:39am Oct 12, 2009 11:39am
Thanks Kevin. I appreciate your response. It's nice to have someone with a different opinion.
  • #4,920
  • Oct 12, 2009 11:50am Oct 12, 2009 11:50am
Quoting kharvell
Price action is significant and explainable. Please, explain to me why your signal is significant. My questions are still left unanswered. My challenge is not to ruffle yours or anyone's feathers, but to cause us all to think. Why are we doing the things we are doing? Please do not take it personal, just one man sharing his experiences with others; if you don't like it, ignore me.

Take care,

Kevin
No worries kevin, sharing our experiences is very productive.
A fractal signal is just a result of price action so why could it not be significant ?
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