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Ichimoku forever

  • #5,001
  • Oct 13, 2009 12:42pm Oct 13, 2009 12:42pm
Quoting jesperweber
Yup. Probably.

Not a bad approach, I think. Very contrarian to go in the opposite direction when everybody else plays lemmings waltzing off the cliff...
From what I have seen in the past few posts there is that approach:
- In a downtrend, use an UP fractal as a point to sell in conjunction with the usual ichimoku signals.
- In an uptrend, use a DOWN fractal as a point to buy in conjunction with the usual ichimoku signals.

OR

- In a downtrend, use the next DOWN fractal as a point to add to your position, ie enter a new sell
- In an uptrend, use the next UP fractal as a point to add to your position, ie enter a new buy.

Hope that made sense.
  • #5,002
  • Oct 13, 2009 1:26pm Oct 13, 2009 1:26pm
Hey Kevin

I took your trade earlier on the eurusd, I netted +50 pips, very clear way of trading and I think I understand it better now.

Am I right in thinking you are now waiting for it to re-trace to 1.47700 before entering another long?

Thanks for another great way to trade the fantastic Itchi
  • #5,003
  • Oct 13, 2009 1:30pm Oct 13, 2009 1:30pm
Hello Guys

i see some confusion using the fractal, myself am confused also , but i tell you an advise ,forget the fractal and check the divergence candle provided by sinner , i believe it is more powerful than the fractal, i am using them instead of the fractal , what i like about Bill Williams is his way of thinking about the market, i t helped me a lot to jump in trades at any time even against the trend as long as i know my limits on the higher TFs using Ichimoku , just try to think and use the same concept Williams is using it will be very helpful

wishing you all the luck

cheer
Vic
  • #5,004
  • Edited 2:14pm Oct 13, 2009 1:42pm | Edited 2:14pm
Please show us some charts Vic. Only going to follow what you teach for now and need to see some trend and counter...I want to jump in too.
Thanks,
Steve
  • #5,005
  • Oct 13, 2009 1:49pm Oct 13, 2009 1:49pm
Quoting kharvell
Hi Thierry,

http://www.forexfactory.com/showpost...postcount=4927

Please see my post here, and some of my others in the recent past that will explain my order trading to some extent....
Kevin

A few questions if you may

Is this the only trading method you use?
Do you only trade EurUsd using this method?
Do you only look at candle close on 3h candles for entry?
Whats the average number of pips a month you make by just trading this one pair?

Sorry for all the questions, Its just I am adding your method alongside Vics original Itchi method but I have decided to only follow 3 pairs, one being EurUsd. I really like the simplicity of your method and I belive it works very well
  • #5,006
  • Oct 13, 2009 2:33pm Oct 13, 2009 2:33pm
Quoting ichidakiller
Hey Kevin

I took your trade earlier on the eurusd, I netted +50 pips, very clear way of trading and I think I understand it better now.

Am I right in thinking you are now waiting for it to re-trace to 1.47700 before entering another long?

Thanks for another great way to trade the fantastic Itchi
Hi ichidakiller,

Glad you are doing well, my friend. I'm totally fine with answering questions when it is clear that someone is making an effort, and you are doing just that. Keep up the good work!

Before, you would be right that I had a buy limit set for 1.4770. However, due to a flat Tenkan-sen on my 3-hour chart at around 1.4820, I set an order there as well that was filled. I'm at a library right now using their computer because the maids are cleaning my house, so no screen shots at the moment. So far this trade is up 11 pips. Another consideration when placing the new order was upwards potential, i.e. Can I make pips in my direction? Since a new high was formed recently at around 1.4870, this is my target, for another 50 pips; roughly a 50 pip stop loss for a 1:1 R:R trade. Daily chart SCREAMING bull on EUR/USD. Very fat bullish future kumo; may be overbought, trade with care.

Quoting ichidakiller
Kevin

A few questions if you may

Is this the only trading method you use?
Do you only trade EurUsd using this method?
Do you only look at candle close on 3h candles for entry?
Whats the average number of pips a month you make by just trading this one pair?

Sorry for all the questions, Its just I am adding your method alongside Vics original Itchi method but I have decided to only follow 3 pairs, one being EurUsd. I really like the simplicity of your method and I belive it works very well
Good questions, I'm sure they will come up again, so let's just knock 'em out.

Yes, only method, yes only EUR/USD.

I only look for 2 things:

  1. Main trend (Ichimoku on daily chart)
  2. Good prices to enter with the trend (If you know the trend, buy/sell it cheaper = more pips)
    This could be all of the ichimoku flat lines, recent/historic support/resistance, or just even numbers, i.e. 1.4800

Therefore, 3-hour candle closes are irrelevant.

Average pips a month for me, the way I trade (mentioned above), could be anywhere from 400 pips on a good month to 3000 pips on a really good month. Again, pips do not matter; how much they are worth does. Notice how I don't call the 400 pips a bad month, because if you are winning, you are better than most. Also depends on market conditions. Open up your daily EUR/USD chart and look at that BULL trend! One could have banked using my ways during this time. If there are choppy conditions, expect worse results. I'm sure these results beg the question, just how successful am I?

Well, I am 22, started trading as a 17 year old, stocks back then. Let's just say I have a lot of personal liberties for someone my age. I've spent a lot of my recent time traveling America, rock climbing and backpacking. I am not filthy rich, but let's just say I'm better than where I started. I want to enjoy my life while I am young, and see the beautiful world we live in.

Take care,

Kevin

  • #5,007
  • Oct 13, 2009 2:44pm Oct 13, 2009 2:44pm
Quoting stevewide
Please show us some charts Vic. Only going to follow what you teach for now and need to see some trend and counter...I want to jump in too.
Thanks,
Steve
Hello Steve

simply we will be following the trend , but if we couldn't find a Strong signal as we used to do , is this means that we are out of this trend !!!!,
using the Divergence candle we will be able to jump when the trend is resuming

USD JPY gives us a great example

-Price broke the 4hrs and there was no Strong Ts+Ks cross so we missed the move to the 88 range .
-strong support @ 88 stopped the fall and price started to pull back
-first level of resistance will be the Ichimok Flat line this where we will be waiting for down move resume signal
- the Divergence candle marked in red is our signal , it made higher high than the previous 5 and closed in red and this the 1st position ( with the candle close and SL at the candle high )
-Ts+Ks cross 2nd position

YOUR TARGET WILL BE TE 88 REGION ( this is the limits )

the 2nd position will be a long entry , 88 is a good support
-2nd Flat Kumo might attract the price
-Blue marked candle is a divergence signal (made a lower low than the previous 5 and closed in green )
your target will be the first Flat Kumo

as long as you know the market limits and you are ready to take the RM you can enter with your eyes closed , Ichimoku is magic and the Divergence candles are another piece of magic , most of people use the Japanese candle formation with Ichimoku, am doing the same now following the Old rule of trend following , knowing what will be the limits for this position and enter the market
i'd love that you read more about Bill Williams, his concept of trading is very good he opened my eyes to more opportunities can be taken from the market in a safe way .
feel free to ask about anything
have a great week
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  • #5,008
  • Oct 13, 2009 2:52pm Oct 13, 2009 2:52pm
Amazing reply kharvell, Definitely given me confidence and direction in my trading, ever since I have found your thread and then of course Vics it has been like a lightswitch going off, Forex trading has never made so much sense to me then it has in the last 6 months.

Thanks for the insight of your trading, I have definitely decided to stick to only 3 pairs and study the hell out of them.

If you could keep posting your entries and reasons for a little while longer it would help a great deal, I am moving to London soon and I am hoping to be earning a small average wage through trading forex and get a part time job, give me a little bit more freedom, I also would love to travel in the next 5 years.

Hey VIC, has there been may trade opportunities with the new method additions, I am still trying to get my head round it but hopefully will soon.

Thanks Kumo Killers
  • #5,009
  • Oct 13, 2009 2:58pm Oct 13, 2009 2:58pm
Quoting vic_elc
Hello Steve...
Sorry Vic just spotted this now

Great explanation and I understand it a hell of a lot more now,

I just need to pick my other 2 pairs to follow

hmmmmmm
  • #5,010
  • Oct 13, 2009 3:23pm Oct 13, 2009 3:23pm
Thanks Vic:

Man, your good....generous too!

This was an eye opener. I'm started now. Will look for these patterns with more confidence now.

I've read Bill Williams and traded his alligator divergent bars well but had no one to help me along the way. I followed sinner and another thread and learned alot.

But your ichi thread gave me a complete system with simple rules. When you added divergent candles I lost my confidence.

The money from your chart comes off the page. I see it. It is easy.

Now I can start looking for this on the 1h, 4h and daily chart. Also, nothing wrong with finding an original method of yours too.

There's plenty to do now.

Thank you so much for the jump start. I can do it now.

Steve
  • #5,011
  • Oct 13, 2009 3:25pm Oct 13, 2009 3:25pm
i'll show trades i have done on eur jpy using the same concept

as long as the limits are defined on 4hrs we can always jump from the 1hr using the div candle , TP at the places already defined from the 4hrs, SL at the candle's low or using some of Ichimoku rules for SL
no brain thinking to emotions decisions, enter set SL TP close the chart and look again after 2 or 3 hrs

i opened 3 lots in this EJ trades, closed 2 @ TP1 TP2 (red lines on 4hrs ) and still waiting for the 3rd TP

feel free to ask about anything
cheers
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  • #5,012
  • Oct 13, 2009 3:38pm Oct 13, 2009 3:38pm
Just got back home from the library and wanted to follow up on my last post with a chart.

Now, I am well in decent profit with my current trade. You can see how I bought it at the flat Tenkan-sen with an order for a good entry point with the trend.
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  • #5,013
  • Oct 13, 2009 3:44pm Oct 13, 2009 3:44pm
Quoting vic_elc
i'll show trades i have done on eur jpy using the same concept

as long as the limits are defined on 4hrs we can always jump from the 1hr using the div candle , TP at the places already defined from the 4hrs, SL at the candle's low or using some of Ichimoku rules for SL
no brain thinking to emotions decisions, enter set SL TP close the chart and look again after 2 or 3 hrs

i opened 3 lots in this EJ trades, closed 2 @ TP1 TP2 (red lines on 4hrs ) and still waiting for the 3rd TP

feel free to ask about anything
cheers
Brilliant thanks again Vic

I really am starting to understand this, Am I right in thinking that the setup is exactly the same as when looking for a Ks Ts cross but if a cross doesn't occur we can enter on a divergence candle(1h and above TF), thus making more opportunities to get in on the trend?
  • #5,014
  • Oct 13, 2009 3:47pm Oct 13, 2009 3:47pm
Quoting kharvell
Just got back home from the library and wanted to follow up on my last post with a chart.

Now, I am well in decent profit with my current trade. You can see how I bought it at the flat Tenkan-sen with an order for a good entry point with the trend.
Hey Kharvell

I jumped in on this trade too, excellent going, all making sense I think.

just trying to make sense of the SL and TPs as usual, I understand your TP on this trade was the last recent high and that you make the SL match the TP for good R:R. Just wondering what your normal rules are, is it just recent R/S?
  • #5,015
  • Oct 13, 2009 3:49pm Oct 13, 2009 3:49pm
I have seen a lot of people talking about USD JPY short opportunities this week, i don't think that Ichimoku tells it is safe , i see a near cloud break out.
what do you think guys ???
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  • #5,016
  • Oct 13, 2009 3:54pm Oct 13, 2009 3:54pm
Quoting vic_elc
I have seen a lot of people talking about USD JPY short opportunities this week, i don't think that Ichimoku tells it is safe , i see a near cloud break out.
what do you think guys ???
Hey Vic, yeah I personally wouldn't be looking at any shorts until the 4h breaks below its kumo
  • #5,017
  • Oct 13, 2009 3:55pm Oct 13, 2009 3:55pm
Hi Kevin,
I have read all your posts in your threat 2 years ago, I am very happy that you are also posting here. Thank you guys - Kevin, Vic...
Kevin, I have a question to you. You explained earlier that you are using since the beginning settings 7,22,44, also 3h chart and daily. In works best for you (we all can see it). Did you try ever the standard settings 9, 26, 52 and 4h and daily charts? Who knows, maybe they will work even better, or?
Thanks ;-)
  • #5,018
  • Oct 13, 2009 3:59pm Oct 13, 2009 3:59pm
Quoting vic_elc
i'll show trades i have done on eur jpy using the same concept

as long as the limits are defined on 4hrs we can always jump from the 1hr using the div candle , TP at the places already defined from the 4hrs, SL at the candle's low or using some of Ichimoku rules for SL
no brain thinking to emotions decisions, enter set SL TP close the chart and look again after 2 or 3 hrs

i opened 3 lots in this EJ trades, closed 2 @ TP1 TP2 (red lines on 4hrs ) and still waiting for the 3rd TP

feel free to ask about anything
cheers
Man, that's easy.................glad I have my old charts back with chikou span and my little signal indy in right hand corner.

If you are still feeling like giving, please give us a trade you are waiting for and I think I'll have seen all I need for now. Or tell me which pair and I'll try to find it.

Looks like Gbp/Usd is testing 1h and 4h kumo top; a divergence candle has already formed 4 hours ago and a new high is now forming which will a divergence candle for a short entry to the 4h 1.5720 area target.

Thanks,

Steve
  • #5,019
  • Oct 13, 2009 4:00pm Oct 13, 2009 4:00pm
Quoting ichidakiller
Brilliant thanks again Vic

I really am starting to understand this, Am I right in thinking that the setup is exactly the same as when looking for a Ks Ts cross but if a cross doesn't occur we can enter on a divergence candle(1h and above TF), thus making more opportunities to get in on the trend?
Yes you are correct, we will not be waiting for the strong cross only to resume the trend, there will be another signal of trend resuming and it is the Div candle.
we still trend follower and we still using the same Ichimoku rules , but we will not be only waiting for the cross we will be waiting for the resume and will jump with the trend
  • #5,020
  • Oct 13, 2009 4:03pm Oct 13, 2009 4:03pm
Quoting vic_elc
Yes you are correct, we will not be waiting for the strong cross only to resume the trend, there will be another signal of trend resuming and it is the Div candle.
we still trend follower and we still using the same Ichimoku rules , but we will not be only waiting for the cross we will be waiting for the resume and will jump with the trend
Excellent got it Vic

Ok sword re-sharpened, Back to battle
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