DislikedToo early to say anything but it should be quite interesting to watch USDJPY's movement on 1H chart and keep this in mind when EURUSD drops enough on Weekly chart to reach at Kumo Support ...Ignored
Hi mate,
Under no circumstances that I'll open my position at 4 Hour chart for an earlier entry. The charts attached shows a clear example why I don't practise catching an earlier signal.
As shown in the GBP/CHF 4 Hour chart, there was a false breakout/cross of Daily Kijun, hence opening a position before the Daily candlestick closed will be a disaster!
Remember mate, the trend is your best friend.. Always follow a trend at Daily chart i.e. Price closed above Daily Kijun - Uptrend, and Price closed below Daily Kijun - Downtrend.
Anyway,...
For a short:
When daily candle closes below Ks you then open the 4h and wait for the price to close below the 4h Ks to take a short
does it matter where the daily or 4h kumo cloud is?
So just to make sure I am getting this
For a short:
When daily candle closes below Ks you then open the 4h and wait for the price to close below the 4h Ks to take a short
does it matter where the daily or 4h kumo cloud is?
You asked "does it matter where the daily or 4h cloud is?"
My answer is yes, for both timeframes:-
- At Daily chart, Ks cross above Kumo --- weak Ks cross Sell signal. Same goes to the 4h chart.
- At Daily chart, Ks cross inside Kumo ---- neutral Ks cross Sell signal. Same goes to the 4h chart.
- At Daily chart, Ks cross below Kumo ----- strong Ks cross Sell signal. Same goes to the 4h chart.
The scenario reversed for weak, neutral and strong Ks cross Buy signal.
So let's say at Daily there is a weak Ks cross sell signal, this implies that the trend might be a weak trend, but you still can look for opportunity to open a short position at 4h when the price closed below Ks provided that you are well aware of the Support levels ahead of your trade. During the downtrend at Daily, you may come across a weak, neutral and/or strong Ks cross sell signals at 4h, depending on the volatility of the pair that you traded.
- #7,965
- Jan 7, 2010 8:35am Jan 7, 2010 8:35am
Very nice observation mate, simply great I guess an EA with these rules will be simply great.
BTW, I've been looking at another great Entry System with Ichimoku and that is the Cross of Kijun-Sen and Chikou-Sen ... will post some more details later but this seems to be extremely promising
I guess an EA with these rules will be simply great.BTW, I've been looking at another great Entry System with Ichimoku and that is the Cross of Kijun-Sen and Chikou-Sen ... will post some more details later but this seems to be extremely promising
Yes mate, you're right. When the Daily candle settled below Ks for quite some time (a few days ago), you need to wait for the price to retrace above Ks at 4h, and when you find that the price makes a comeback and closed below Ks at 4h, then just open your short position and ride the trend...
- #7,967
- Jan 7, 2010 9:05am Jan 7, 2010 9:05am
Very nice observation mate, simply great
BTW, I've been looking at another great Entry System with Ichimoku and that is the Cross of Kijun-Sen and Chikou-Sen ... will post some more details later but this seems to be extremely promising
Love the latest version of your indicator, will definitely be using it this year for trading. From one Aussie to another, good as gold!
God bless,
Doc
Very nice observation mate, simply great
BTW, I've been looking at another great Entry System with Ichimoku and that is the Cross of Kijun-Sen and Chikou-Sen ... will post some more details later but this seems to be extremely promising
Btw mate, thanks a lot for the great ichi360 v6 indi... it's really helpful for me to have a quick analysis and study on chart.
Looking forward to have some more posts from you in this thread & happy pips hunting mate
- #7,969
- Jan 7, 2010 10:59am Jan 7, 2010 10:59am
Very nice observation mate, simply great
BTW, I've been looking at another great Entry System with Ichimoku and that is the Cross of Kijun-Sen and Chikou-Sen ... will post some more details later but this seems to be extremely promising
Hi mate,
Under no circumstances that I'll open my position at 4 Hour chart for an earlier entry. The charts attached shows a clear example why I don't practise catching an earlier signal.
Anyway, I have also opened a position for this pair since 05 Jan 2010 and currently collected +120 pips
...my 2 cents...
... according to your H4 kumo, I would not to open position, unless PA would be outside kumo... simply put, I think, that false break was, cos the PA was inside the kumo...
...my 2 cents...
The SAFEST WAY to trade is "Trade the Trend", and not "Trade against the Trend" (unless you are an experienced trader like lbtrader). Meaning, whatever trade you take, make sure you understand what happened at higher timeframe.
You quoted that there was a false breakout at 4h simply because the price is inside the Kumo. But let me show you a EUR/GBP charts attached. At 4h, the price is above/outside the Kumo and yet it is still a false breakout. And take a look at Daily, the price keeps testing the Daily Kijun but it's still unable to close above it. Would you take this trade by referring to the 4h only, or does it sound a bit better if you refer first to Daily chart and take trade in accordance to what the Daily chart tells you? Let me know what you think mate
Mate, hi no offense but I'm not sure whether your writing above is referring to me or not. My bad if it isn't. But if it is, let me tell you that I come to this thread with a good and sincere intention to share knowledge among us, be it newbies or experienced ones, and to contribute as much as I and you or anybody else could so we can improve together.
Frankly speaking, I'd like to acknowledge to you that I'm not that experience in Forex trading, but perhaps my credentials, as a graduate in Finance & Accounting with a more than a decade's working...
not sure he was talking about you to be fair...I just thought he meant that the thread was growing and progressing along with the readers and no more a newbie thread.
On another note, thank you very much for your posts...they were really very informative to me, especially since I've been feeling so frustrated lately about my ichi trading
Hi mate,
The SAFEST WAY to trade is "Trade the Trend", and not "Trade against the Trend" (unless you are an experienced trader like lbtrader). Meaning, whatever trade you take, make sure you understand what happened at higher timeframe.
You quoted that there was a false breakout at 4h simply because the price is inside the Kumo. But let me show you a EUR/GBP charts attached. At 4h, the price is above/outside the Kumo and yet it is still a false breakout. And take a look at Daily, the price keeps testing the Daily Kijun...
Totally agree with this
- #7,976
- Jan 7, 2010 8:07pm Jan 7, 2010 8:07pm
hey mate,
Are you an Aussie ? just wondering
OK, question time, the Gold colored Kijun-Sen line on your charts is basically the Kijun-Sen from a higher timeframe if I'm not wrong. How do you plot two KS lines on your chart ?
Is it through that KSLines Indicator ??
Are you an Aussie ? just wondering
OK, question time, the Gold colored Kijun-Sen line on your charts is basically the Kijun-Sen from a higher timeframe if I'm not wrong. How do you plot two KS lines on your chart ?
Is it through that KSLines Indicator ??
Hi mate,
The SAFEST WAY to trade is "Trade the Trend", and not "Trade against the Trend" (unless you are an experienced trader like lbtrader). Meaning, whatever trade you take, make sure you understand what happened at higher timeframe.
You quoted that there was a false breakout at 4h simply because the price is inside the Kumo. But let me show you a EUR/GBP charts attached. At 4h, the price is above/outside the Kumo and yet it is still a false breakout. And take a look at Daily, the price keeps testing the Daily Kijun...
Yes mate, you're right. When the Daily candle settled below Ks for quite some time (a few days ago), you need to wait for the price to retrace above Ks at 4h, and when you find that the price makes a comeback and closed below Ks at 4h, then just open your short position and ride the trend
Thank you.