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Ichimoku forever

  • #9,541
  • Feb 23, 2010 12:40am Feb 23, 2010 12:40am
My current view... open for discussion...
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Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #9,542
  • Feb 23, 2010 1:20am Feb 23, 2010 1:20am
Good morning all

i hope everyone had a good start into the week

as i mentioned last week, im still in the gbp/cad short
i have now moved the stop just above the heikin ashi doji of yesterday, experimenting with asher's exit strategy. lets see how it plays out
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Patience is key.
  • #9,543
  • Feb 23, 2010 2:33am Feb 23, 2010 2:33am
Quoting chngster
My current view... open for discussion...
Hi Chngster .Very interesting chart. I'm new to all these and i'm learning more on Ichimoku from you guys each day !

From your chart ,is there anything we can infer from price action below or above the tenkan ?

I would see the chikou as tending to bearish rather than neutral given sideway movement of price action would carry the chikou below the price 26 periods back.

Given the bullish kumo the price is threading into atm, and if there is a sustained break below the support kumo , would it therefore present a clear sell signal ? Or , cue the question i had asked Asher earlier,would the downside action be limited for it being a bullish kumo?

Personally I'm watching this pair closely as the prevous resistance line 143.58 ( from your chart) represent a 61.8 retracement level and its price has yet the break from a downward trending channel formation dating back to january . But for consenus on the 4H and 1H charts giving a clear short signal , i would have entered a position.

However, given the contracting bullish kumo which you have pointed out , it could yet happen that the kumo break materialize at the start of the bearish kumo over the next few days.

Any thoughts , anyone?

Regards,
Orroro
  • #9,544
  • Edited 3:03am Feb 23, 2010 2:48am | Edited 3:03am
This Heikin Ashi looks good to me almost similar to one I use on ProRealTime www.prorealtime.com platform ....

Mind sharing indi please ?

EDIT: Sorry, just realized the image is not MT4 ...




Quoting moetzger
Good morning all

i hope everyone had a good start into the week

as i mentioned last week, im still in the gbp/cad short
i have now moved the stop just above the heikin ashi doji of yesterday, experimenting with asher's exit strategy. lets see how it plays out
  • #9,545
  • Feb 23, 2010 3:04am Feb 23, 2010 3:04am
Quoting ichi360
This Heikin Ashi looks good to me almost similar to one I use on ProRealTime www.prorealtime.com platform ....

Mind sharing indi please ?
Hi mate,

I don't think bro moetzger can share the indi coz he uses OandA web-based platform. You may use the indi attached and see whether it's similar to the one that u used at prorealtime....

EDIT: Sorry just notice that you realized it's not MT4 he he
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File Type: mq4 Heiken Ashi.mq4   4 KB | 351 downloads
  • #9,546
  • Feb 23, 2010 4:20am Feb 23, 2010 4:20am
My suggestion is to get hold of a Demo account which can provide you access to USD Index as its a must to have thing … Hope that helps …
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  • #9,547
  • Feb 23, 2010 5:04am Feb 23, 2010 5:04am
Quoting Orroro
From your chart ,is there anything we can infer from price action below or above the tenkan ?
I infer this (i.e. where the PA is underneath both the T and K) to be a stronger reinforcement of the bearish TK cross. The thing to bear in mind is, T and K presents 2 levels of resistance PA has to fight if it wants to go up.

Quote
I would see the chikou as tending to bearish rather than neutral given sideway movement of price action would carry the chikou below the price 26 periods back.
Yes, my view is that the chikou is bearish as it flipped over the PA. But as it is in the kumo, it is a neutral bearish chikou.

Quote
Given the bullish kumo the price is threading into atm, and if there is a sustained break below the support kumo , would it therefore present a clear sell signal ?
Yes I would say so, where confirmed by chikou clearing the kumo. This in fact is the case currently, and I have entered a short position.

Quote
Or , cue the question i had asked Asher earlier,would the downside action be limited for it being a bullish kumo?
Not sure, but note currently that the kumo bearish twist has occurred.

Hope that helps! Happy to be corrected if someone has another view.

Chngster
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #9,548
  • Feb 23, 2010 5:22am Feb 23, 2010 5:22am
I'm short already from 4H Kijun-Sen line and now had a Kumo Breakout. 139.84 is an important level for 4H, if we break this level we'll head down towards 136.17 ...

We may see a short term upside move from / above 139.84 to correct the 1H view ...

Quoting chngster
My current view... open for discussion...
  • #9,549
  • Feb 23, 2010 5:40am Feb 23, 2010 5:40am
Thanks mate,

Its good but still not the one that resembles with my ProRealTime Heikin Ashi ... hope to find it one day



Quoting Adipati
Hi mate,

I don't think bro moetzger can share the indi coz he uses OandA web-based platform. You may use the indi attached and see whether it's similar to the one that u used at prorealtime....

EDIT: Sorry just notice that you realized it's not MT4 he he
  • #9,550
  • Feb 23, 2010 5:53am Feb 23, 2010 5:53am
And the Breakout couldnt survive on the downside ...

Can we go up now ??

Quoting ichi360
I would suggest caution ... might keep myself away from it unless there are some more convinicing developments ...
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  • #9,551
  • Feb 23, 2010 5:54am Feb 23, 2010 5:54am
Quoting ichi360
Thanks mate,

Its good but still not the one that resembles with my ProRealTime Heikin Ashi ... hope to find it one day


Oops... Sorry mate coz I used the HA before with ichi and it looks so similar with yours at prorealtime

btw, I like your new avatar... looks so friendly
  • #9,552
  • Feb 23, 2010 5:56am Feb 23, 2010 5:56am
its my daughter's choice she decided this one for me LOL

Quoting Adipati
btw, I like your new avatar... looks so friendly
  • #9,553
  • Feb 23, 2010 6:03am Feb 23, 2010 6:03am
Quoting ichi360
its my daughter's choice she decided this one for me LOL

lllooolll . This thread's getting more amuse and more funny everyday I like it lllloooollll
  • #9,554
  • Feb 23, 2010 6:24am Feb 23, 2010 6:24am
Quoting ichi360
I'm short already from 4H Kijun-Sen line and now had a Kumo Breakout. 139.84 is an important level for 4H, if we break this level we'll head down towards 136.17 ...

We may see a short term upside move from / above 139.84 to correct the 1H view ...
Nice, you're already well positioned. I see the two pin bars about a day ago that bounced off the K...good call! At that time it was a weak TK cross, chikou was still looking haphazard for shorts and PA was on the other side of a bullish kumo. I saw the 2 K bounces but felt cagey/unconvinced and couldn't bring myself to do it at that stage... - what convinced you to take it?
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #9,555
  • Feb 23, 2010 6:49am Feb 23, 2010 6:49am
2 Long positions on my favorite exotics. I made some nice pips recently on both these pairs

As for me, if I can't find any good setup on majors, I prefer to put my money in some other safer pairs

am not aiming for lots of pips on these exotics and would be just nice if it can afford to buy some steak for dinner tonight

Happy pips hunting ichi traders
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  • #9,556
  • Feb 23, 2010 7:02am Feb 23, 2010 7:02am
Quoting chngster
Nice, you're already well positioned. I see the two pin bars about a day ago that bounced off the K...good call! At that time it was a weak TK cross, chikou was still looking haphazard for shorts and PA was on the other side of a bullish kumo. I saw the 2 K bounces but felt cagey/unconvinced and couldn't bring myself to do it at that stage... - what convinced you to take it?

Hi Chngster if it 's possible and not too inconvenient can you illustrate what you mean by "2 pin bars a day ago that bounced off the K "

As well, if Asher could kindly share what convinced him to take the short it would be very much appreciated!

Regards,
Orroro
  • #9,557
  • Feb 23, 2010 7:12am Feb 23, 2010 7:12am
Quoting chngster
I infer this (i.e. where the PA is underneath both the T and K) to be a stronger reinforcement of the bearish TK cross. The thing to bear in mind is, T and K presents 2 levels of resistance PA has to fight if it wants to go up.

Yes, my view is that the chikou is bearish as it flipped over the PA. But as it is in the kumo, it is a neutral bearish chikou.

Yes I would say so, where confirmed by chikou clearing the kumo. This in fact is the case currently, and I have entered a short position.

Not sure, but note currently that the kumo bearish...
Hello Chngster

Many thanks for your detailed replies ! Glad to find many active traders here dealing in Ichimoku magic and willing to share .

When you say the kumo bearish twist has ocurred ( and i assume you refer to the 4H chart) , does it has any bearing on your trade given that the PA is still beneath a bullish kumo?

Also a question on entry of trade. As you take the signal from 4H chart , given the formation of the last candle that broke the kumo take 4 hrs to finalize, do you wait that 4 hrs before entering the trade or do you switch over to 1H chart for a nearer term indication for placement of trade?


Regards,
Orroro
  • #9,558
  • Feb 23, 2010 7:20am Feb 23, 2010 7:20am
Quoting ichi360
And the Breakout couldnt survive on the downside ...

Can we go up now ??
Mate, are u taking the Long already? My 4h shows that the price find a support on Kumo and Cs find a Support on Ks. Should be a nice setup. Furthermore, it's in the same direction with Daily...
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  • #9,559
  • Feb 23, 2010 7:24am Feb 23, 2010 7:24am
Quoting Orroro
Hi Chngster if it 's possible and not too inconvenient can you illustrate what you mean by "2 pin bars a day ago that bounced off the K "

As well, if Asher could kindly share what convinced him to take the short it would be very much appreciated!

Regards,
Orroro
There u go
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Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #9,560
  • Feb 23, 2010 9:31am Feb 23, 2010 9:31am
Quoting ichi360
I'm short already from 4H Kijun-Sen line and now had a Kumo Breakout. 139.84 is an important level for 4H, if we break this level we'll head down towards 136.17 ...

We may see a short term upside move from / above 139.84 to correct the 1H view ...
Hi Asher

How did you arrive at the two support level 139.84 and 136.17?

I'm not too sure if you had answered sanai in regard to this previously yet in any case i fail to comprehend that post Can you elaborate or illustrate abit to point this newbie in the right direction ?

Regards,
Orroro
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