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Ichimoku forever

  • #5,721
  • Oct 29, 2009 9:48am Oct 29, 2009 9:48am
Quoting SanMiguel
What were your reasons for the BUY at that level out of interest?
I can see the 1hr kumo exit where I bought yesterday but price spiked below the 1hr flat top, which took me out.
Bounce off of 3-hour kumo. S/L just below support area (red horizontal line).
  • #5,722
  • Oct 29, 2009 9:48am Oct 29, 2009 9:48am
Quoting vic_elc
any one was in the party ??!!
DOH! Hopefully you got some pips vic?
  • #5,723
  • Oct 29, 2009 9:51am Oct 29, 2009 9:51am
Quoting kharvell
Not giving up on this trade... Still up around 60 pips, but it had been higher.

1-hour ichimoku looks confused, but 3-hour looks fine. Even looks like support at KS, may be a good chance to buy. We will see
long with you bro
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  • #5,724
  • Oct 29, 2009 10:02am Oct 29, 2009 10:02am
If you are long USD/CAD, be careful. Price bounced off of kumo today on daily chart. Very flat line top of kumo corresponds with resistance in the past. This may be a good stop-loss for a short trade.
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  • #5,725
  • Oct 29, 2009 10:20am Oct 29, 2009 10:20am
Quoting kharvell
1 Hour chart looking like it may turn bearish pretty soon. Good luck!

YUP. The longterm trend is DOWN!
TRUE MARKET PIRATE FOREVER!!! TAKE WHAT YOU CAN AND GIVE NOTHING BACK!
  • #5,726
  • Oct 29, 2009 1:21pm Oct 29, 2009 1:21pm
Hey Kharvell

Whats is your opinion on eurusd at the moment


Also what other pairs have you been trading, while its been making its mind up?
  • #5,727
  • Oct 29, 2009 1:26pm Oct 29, 2009 1:26pm
Any thoughts on the CHFJPY 1hr chart?
Potential cloud exit, most timeframes except the 4hr show an uptrend, CS has crossed price upwards (WEAK below KUMO), Ts/Ks cross (WEAK below KUMO).
Future kumo is still bearish and has a few flat areas.
Might be an idea to wait for a potential retrace and then bounce?

Another potential is the SGDJPY but this is a slow moving ranging pair.
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  • #5,728
  • Edited 2:01pm Oct 29, 2009 1:29pm | Edited 2:01pm
Quoting kharvell
Hi vic,

Wanted to say congrats on your account; very impressive. You are most assuredly right by placing importance on RR and MM.

However, the only thing that concerns me about your account is that you are trading a lot of the same currencies, and correlation may come to bite you in the rear. Especially when the weeks aren't as good as this one. Just a word of warning. May I suggest limiting yourself to 4-5 pairs?

Good luck,

Kevin
A question on that correlation because it was one of the main reasons I cut down the pairs I was looking at.
If you are following the charts, the technical analysis counts for a lot, the EURCAD is a prime example at present as this is a cross pair.
If we're worried about correlations then trading crosses can be a problem can't it?
  • #5,729
  • Oct 29, 2009 2:35pm Oct 29, 2009 2:35pm
Quoting ichidakiller
Hey Kharvell

Whats is your opinion on eurusd at the moment


Also what other pairs have you been trading, while its been making its mind up?
EUR/USD looks good for a BUY. 1-hour chart forming buy signal as per vic's set-up. Daily trend showing bulls and bounce off of strong support (horizontal red line).

Other pairs trading right now:

Short EUR/GBP
Short USD/CAD
Long USD/CHF
Long EUR/USD

Usually only 4 at a time

Good luck,

Kevin
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  • #5,730
  • Oct 29, 2009 2:42pm Oct 29, 2009 2:42pm
Quoting SanMiguel
A question on that correlation because it was one of the main reasons I cut down the pairs I was looking at.
If you are following the charts, the technical analysis counts for a lot, the EURCAD is a prime example at present as this is a cross pair.
If we're worried about correlations then trading crosses can be a problem can't it?
Hi SanMiguel,

I see what you are saying, it is sort of a circular debate. Where possible, it is good to look at the fundamental side of things. And this doesn't mean waiting for the next big news, it just means what's going on in the world that will change a particular currency most. For instance, DOW can't bust 10,000, and USD starts moving this past week. Clearly, you don't need to be in every USD pair, look for the ones that are most promising, technically speaking. It's ok to have correlation when you know what you are doing, just not ok to have TOO MUCH correlation. Strictly my opinion of course.

Regards,

Kevin
  • #5,731
  • Oct 29, 2009 2:54pm Oct 29, 2009 2:54pm
Brillaint, Thanks again Kharvel

Quoting kharvell
EUR/USD looks good for a BUY. 1-hour chart forming buy signal as per vic's set-up. Daily trend showing bulls and bounce off of strong support (horizontal red line).

Other pairs trading right now:

Short EUR/GBP
Short USD/CAD
Long USD/CHF
Long EUR/USD

Usually only 4 at a time

Good luck,

Kevin
  • #5,732
  • Oct 29, 2009 4:02pm Oct 29, 2009 4:02pm
Quoting kharvell
EUR/USD looks good for a BUY. 1-hour chart forming buy signal as per vic's set-up.
What are vic's entry rules now?
Looked recently like kumo exits but not sure if the future kumo is taken into consideration.
I'm sure all the original rules apply as well.
  • #5,733
  • Oct 29, 2009 4:24pm Oct 29, 2009 4:24pm
Quoting SanMiguel
What are vic's entry rules now?
Looked recently like kumo exits but not sure if the future kumo is taken into consideration.
I'm sure all the original rules apply as well.
Sorry SanMiguel, not sure what you are trying to say or ask me, if anything. Could you clarify?
  • #5,734
  • Oct 29, 2009 5:26pm Oct 29, 2009 5:26pm
Quoting kharvell
Sorry SanMiguel, not sure what you are trying to say or ask me, if anything. Could you clarify?
you put as per vic's rules in your post but I'm not sure what vic's rules are anymore
It looke like kumo breakouts from the last few posted trades and I think that's what you were referring to on your chart but not sure?
...and if it is kumo breakouts, is the trade taken if the future kumo shows an opposite sign, eg EURCAD shows a cloud exit on the 1hr short but the future kumo is still bullish - this would make me reject the short position for the moment.

However, I assume that he takes all the normal trades as well as per the first few pages.
  • #5,735
  • Oct 29, 2009 5:52pm Oct 29, 2009 5:52pm
Hi,

Anyone trading this method using M15?

Thanks
"Hands that help are holier than lips that pray" Shirdi Sai Baba
  • #5,736
  • Oct 29, 2009 7:42pm Oct 29, 2009 7:42pm
Today was a bullish outside bar on the daily crude and we will target the $90 + area.

UsdCad saw a sweet bounce off of the Kumo and will work its way lower.

On the daily chart I have a few long term targets but keep in mind we will GRIND lower, make sure you have your "get me out stop loss" set if you are of the lower risk adverse trader.

Trade what you see and plan for the worst!!

2 pips,

golfer
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  • #5,737
  • Oct 29, 2009 8:00pm Oct 29, 2009 8:00pm
oops...forgot crude daily....old age!!!

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  • #5,738
  • Oct 29, 2009 8:15pm Oct 29, 2009 8:15pm
Hey Kevin, I remember you from the Trading Naked thread. I think it was about trading peaks and valleys. Anyway I see you're not trading naked anymore, but I'm glad you're here trading Ichi.

I'm not long EU just yet. I was going to wait for a drop to 4772 where the daily KS is and then go long. Judging from the daily candle I'd say its highly probable EU will go to 1.50 again. I may miss out on this trade since I'm waiting for a better price and I may not get it, but I'd like to see how well that level holds if it does drop.

Anyway, great to see you're around and any input is always appreciated.


Quoting kharvell
EUR/USD looks good for a BUY. 1-hour chart forming buy signal as per vic's set-up. Daily trend showing bulls and bounce off of strong support (horizontal red line).

Other pairs trading right now:

Short EUR/GBP
Short USD/CAD
Long USD/CHF
Long EUR/USD

Usually only 4 at a time

Good luck,

Kevin
  • #5,739
  • Oct 29, 2009 8:28pm Oct 29, 2009 8:28pm
Quoting kharvell
EUR/USD looks good for a BUY. 1-hour chart forming buy signal as per vic's set-up. Daily trend showing bulls and bounce off of strong support (horizontal red line).

Other pairs trading right now:

Short EUR/GBP
Short USD/CAD
Long USD/CHF
Long EUR/USD

Usually only 4 at a time

Good luck,

Kevin
Hi Kharvell,

I see you are short on EUR/GBP but long on USD/CHF and EUR/USD. As you know USD/CHF and EUR/USD are mostly (not all the time) negatively correlated. Don't you think by trading both pairs at the same time, you are making the trades neutral?


But I am short on EUR/GBP for a couple of days and long on USD/CHF with -ve pips at this moment.

Any way, wishing you good luck on your trades. It may work out for you very well.

Nobody knows what the future would hold.

My 2cents.

Cheers
  • #5,740
  • Oct 29, 2009 11:37pm Oct 29, 2009 11:37pm
Quoting kharvell
EUR/USD looks good for a BUY. 1-hour chart forming buy signal as per vic's set-up. Daily trend showing bulls and bounce off of strong support (horizontal red line).

Other pairs trading right now:

Short EUR/GBP
Short USD/CAD
Long USD/CHF
Long EUR/USD

Usually only 4 at a time

Good luck,

Kevin
Long EUR USD
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