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Ichimoku forever

  • #11,961
  • Apr 3, 2010 2:58am Apr 3, 2010 2:58am
I suggest we have a look at http://www.forexfactory.com/showthread.php?t=123284



Quoting pedma
Hi All,

I like a simple point of //speculare, he get the strongest & weakest currency in the morning of each day. I think it's a good point too. But I don't know what is the criteria a strongest / weakest currency. Example, we are staying always at 4H TF. We are looking at Asher's ichimonitor at 4H TF for all favorite pair :
USD, EUR, GBP, JPY, AUD, CAD. So it will be so many pairs like: EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD, EUR/GBP, EUR/JPY, EUR/AUD, EUR/CAD, etc .. etc .. From ichimonitor, we can see the arrow of...
  • #11,962
  • Apr 3, 2010 5:01am Apr 3, 2010 5:01am
Quoting pedma
2) How about this:
About 1 minutes before the NFP release, we put 2 ORDER trade. We also create the SL for them. Each order is about 5 pips from the current price. The order is the oposite one each other.
Example : The price of EUR/USD 1 minute before NFP release is : 1,3566. So we put 1 BUY order at 1,3571 with SL 1,3546 and TP 1,3599. The other is a SELL order at 1,3561 with SL at 1,3586 and TP 1,3536. This is a shot term trading. But if the price with reach our TP, we can move our TP.
Does is make sense or it's dangeruous ?

Thanks.
- pedma...
Have you ever heard about slippage... even in forex especially in newstime you will have some very uncomfortabe fillings...
  • #11,963
  • Apr 3, 2010 6:27am Apr 3, 2010 6:27am
Quoting ichi360
Regardless of the discussion we have had for CS clearning the Kumo or not ... this trade on LONG side was just not valid anyways and if I were you I would have avoided it.

When trading at 4H and you get a signal its not enough to see things on that TF alone, all the other TFs were mixed up and 1H was also ready tired and ready to give up as well as 30M and 15m ... it was just a matter of time that this Breakout was going to be invalid ... There will be a Long opportunity I believe in the coming days but this signal was not good enough.

Second...
Hi Ichi,

I trade on the 4hr and basically look at the daily to enter a trade, didnt pay much attention to the lower tfs, could you explain more on how to avoid these type of trades by lookin at lower tfs ?

IMO, in pedma´s example the daily is still below the cloud so any up move will be not valid yet.

The indicator he was asking for is the directional move, i think.

Ichi if you some free time, would love if you could have a look at the chart I posted in : http://www.forexfactory.com/showpost...ostcount=11855

Thanks !
Trade Smart
  • #11,964
  • Apr 3, 2010 8:25am Apr 3, 2010 8:25am
Hi Osman,

For 4H, Weekly is much more helpful than the Daily, although Daily too must be considered before entering a trade.

You might want to check the 1H, 30m and 15mn as well to determine whether or not there is more room for price appreciation on those lower TFs. If these lower TFs suggest that price has already been overbought and the pair is getting tired that means on 4H we will have some correction and we should wait for our entry.

Hope this helps.

Quoting Osman
Hi Ichi,

I trade on the 4hr and basically look at the daily to enter a trade, didnt pay much attention to the lower tfs, could you explain more on how to avoid these type of trades by lookin at lower tfs ?

IMO, in pedma´s example the daily is still below the cloud so any up move will be not valid yet.

The indicator he was asking for is the directional move, i think.

Ichi if you some free time, would love if you could have a look at the chart I posted in : http://www.forexfactory.com/showpost...ostcount=11855

Thanks...
  • #11,965
  • Apr 3, 2010 8:53am Apr 3, 2010 8:53am
Quoting ichi360
Hi Osman,

For 4H, Weekly is much more helpful than the Daily, although Daily too must be considered before entering a trade.

You might want to check the 1H, 30m and 15mn as well to determine whether or not there is more room for price appreciation on those lower TFs. If these lower TFs suggest that price has already been overbought and the pair is getting tired that means on 4H we will have some correction and we should wait for our entry.

Hope this helps.
Hi Ichi,


Thanks for your answer, how can we determine if the price is oversold/overbought/tired with ichimoku?

Thanks.
Trade Smart
  • #11,966
  • Apr 3, 2010 8:56am Apr 3, 2010 8:56am
Quoting ichi360
Hi Osman,

For 4H, Weekly is much more helpful than the Daily, although Daily too must be considered before entering a trade.

You might want to check the 1H, 30m and 15mn as well to determine whether or not there is more room for price appreciation on those lower TFs. If these lower TFs suggest that price has already been overbought and the pair is getting tired that means on 4H we will have some correction and we should wait for our entry.

Hope this helps.
Hi Asher,

I've been following the thread for a little over a month now, and must say that you guys are doing an amazing job helping out all us newbies!

Question re the analysis for price appreciation and overbought/tired in the lower tf.... what do you typically look for? Do you use any other indicators apart from ichi?

Thanks!!!
  • #11,967
  • Apr 3, 2010 8:57am Apr 3, 2010 8:57am
Quoting Osman
This kind of examples are the ones that leave me undecided..
In this kind of trades my setup is:

Long:

Preliminar condition: KS/TS crossover

Signal: Kumo breakout

Filtrer:

1. CS > P
2. CS > Kumo
3. CS > TS
4. CD > KS
Attached Image (click to enlarge)
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  • #11,968
  • Apr 3, 2010 10:00am Apr 3, 2010 10:00am
2) How about this:
About 1 minutes before the NFP release, we put 2 ORDER trade. We also create the SL for them. Each order is about 5 pips from the current price. The order is the oposite one each other.
Example : The price of EUR/USD 1 minute before NFP release is : 1,3566. So we put 1 BUY order at 1,3571 with SL 1,3546 and TP 1,3599. The other is a SELL order at 1,3561 with SL at 1,3586 and TP 1,3536. This is a shot term trading. But if the price with reach our TP, we can move our TP.
Does is make sense or it's dangeruous ?

Thanks.
- pedma -[/quote]

I would like to give an opinion on this tactic.

I think 5 pips is way too close to stop the order. If you look at charts during significant news releases the movement is usually at least 50 pips in both directions showing the utter confusion till the news is digested. There are however exceptions where it goes straight up or down so nothing can be counted on. If you look back at announcements you will see that in most cases you would have both orders filled probably resulting in a loss of your pips and position. I agree that being on the sidelines is the safest place during announcements. good luck with your trading.
  • #11,969
  • Apr 3, 2010 10:38am Apr 3, 2010 10:38am
Hello friends,

I am a newbie and need some help with the monitor. FXCM is my broker, they provide the Marketscope chart. How do I incorporate the Ichi Monitor into my present chart?

Thank you.
  • #11,970
  • Apr 3, 2010 11:54am Apr 3, 2010 11:54am
guys,

i understand that most of us r technical traders, and i myself is a technical trader, but what really drives the market (including forex) is the fundamental of one particular country and their economy data, eg interest rates, unemployment rates, exports/imports figures etc etc.... these r actually the leading indicators for the markets that makes them move in uptrends or downtrends, while our technical indicators are all lagging indicators, and ichi is not excluded. why?? its simply becoz our technical indicators r calculated based on the historical prices. our lagging technical indicators show buy/sell signals after the leading indicators ie the economy data released... thats it guys

yesterday was a good example that the market has been driven by fundamental, and our 5 ichi lines had subsequently shown some signals for us to take trades based on this data (nfp). me and bro fxripper somehow had caught this signal and we took the trade, and i am proud to say that i had closed the eu short trade yesterday for 53 green pips

i also share the same feeling with bro 4xaddict in relation to news released. in his previous post, bro 4xaddict did mention that we should stay aside during the news announcement, and only go into the market 30 - 60 minutes after the news, coz after the news has been released, the market comes to its stability and will show some trend direction. and this was what i did... stayed aside and went into the market after the ichi shown the signal

while i appreciate and respect other traders to stay aside the whole day yesterday, others should also respect the way traders like me dealing with the market, coz as for me, as long as there is a movement and trending market, i will just trade it and i dont really worry when or what day it is. and of course i m always aware to take good care of my mm/rm all the time to avoid being overexpose of my capital, and as well as after a thorough study of my charts

i hope things r more clear now
  • #11,971
  • Apr 3, 2010 11:55am Apr 3, 2010 11:55am
Quoting Rafiki
Hello friends,

I am a newbie and need some help with the monitor. FXCM is my broker, they provide the Marketscope chart. How do I incorporate the Ichi Monitor into my present chart?

Thank you.
Hi Rafiki,

Those indicadora will only work on the MT4 software. Fxcm have mt4 vía Boston technologies, I will recommend you to ask their customer support or search for Mt4 fxcm on Google.

Tc.
Trade Smart
  • #11,972
  • Apr 3, 2010 12:22pm Apr 3, 2010 12:22pm
the leading indicators of the market are not interest rates announcements nor the economic news nor the news in any way. IF you look at the overall picture you will see that every major move from a fundi announcement was already there in front of you in PA alone on the higher TF's

If you really want to understand where the market is headed you must understand what moves the market (and its NOT news) and how and why it does this. ....look at the SP500 the Neikki, the dax and other TRUE leading indicators..look at the futures market and the entire financial picture. When all of the DRIVERS of the market align it paints a very clear picture of where we are headed.

There are 6 market drivers just as there are 6 components of the $index....

you wish to see where the market is headed pull up all 6 drivers charts in grid and then pull up all 6 components of the $index in a grid and you will be hard pressed to find better direction a better picture painted of where we are headed. Its truly an "AHA" moment

News does not lead the market...the market will temporarily deviate from its path because of certain news but news effect is short lived.

the market is not complex at all and trading should be fun not stressful, if its not fun then you are missing something and I'll wager its pretty simple.

dont chase the market..let it come to you

I do apologies that this is not Ichi related
Attached Image(s) (click to enlarge)
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Don't chase the market, Let the market come to you
  • #11,973
  • Apr 3, 2010 12:23pm Apr 3, 2010 12:23pm
Hi Asher,

Please let me know I am using the correct method. I only trade on a 1hr chart and i dont go below it. So i use ur Monitor V2 to see other higher tf's like 4hr,daily, weekly.

As I am new to this I only take trades in the direction of long term tf. Once I get a signal on a 1hr chart. I look at 4hr, daily and weekly and if everything is in the direction of the signal, I take it.

simple but effective. I was successful using this method last week but i want to know if it would be a great idea to just trade with the trend all the time.... at some point the price will reverse?

Thanks a lot
  • #11,974
  • Apr 3, 2010 12:34pm Apr 3, 2010 12:34pm
the top 3 are the futures market that runs 23 hrs a day

the bottom 3 you know and if you are going to trade the Dollar and the EURO most of all...................

you MUST know where these are and where they are headed from the daily and weekly charts

I think the charts speak for themselves, these are the 6 drivers of the market

the MA used is a SMA 90

why a 90? when computers were first used for trading they were a big as a house almost and you had to enter a punch card into them to input information and one of the things they found was that MA's were the easiest to input and the 90 was the most accurate after much testing and professional and institutional traders alike use it to this day....
Don't chase the market, Let the market come to you
  • #11,975
  • Apr 3, 2010 12:34pm Apr 3, 2010 12:34pm
Next look where on a clock face is it pointed?

2oclock? 4oclock? 3?

this will tell you your daily and weekly direction and smart money waits for price to come to them based on where the global drivers in the market are headed http://forexforums.dailyfx.com/images/smilies/eek.gif

It really is a simple market

you do not need to guess...just wait for your price

next step is to break down the above charts to major and minor support

throw on your pivots and draw your fibs

no squiggly lines needed no indicators needed

clean charts so you can see PRICE ACTION to and from those S/R points


NOW


Now break down those daily and weekly charts into the TF you trade from

and again plot major and minor S/R points on the TF you trade and add your fibs

your pivots are already there

When the lower fibs line up with the higher fibs...thats an http://forexforums.dailyfx.com/images/smilies/eek.gifAHAhttp://forexforums.dailyfx.com/images/smilies/eek.gifmoment in forex

simple

and wait for price to come to you
Don't chase the market, Let the market come to you
  • #11,976
  • Apr 3, 2010 12:35pm Apr 3, 2010 12:35pm
now ya'll add in your ichi analysis and woa...you have a pip machine
Don't chase the market, Let the market come to you
  • #11,977
  • Apr 3, 2010 12:37pm Apr 3, 2010 12:37pm
Straddle. Sorry wont work. not for NFP. It will eat ur 5 pips on the ask side and then eat ur 5 pips on the bid.

do urself a favor- dont trade NFP for many more months/years to come if not ever.

Quoting pedma
2) How about this:...
Its all in the mind.
  • #11,978
  • Apr 3, 2010 12:37pm Apr 3, 2010 12:37pm
ok

one more and I am done

you have the 6 global drivers above

now here you have what makes up the dollar Index

what does the dollar index have to do with anything?? LOL if you dont know that stop now

now what do these charts tell us?

break these down the same as you do the drivers but from a 4 hr TF down to the TF you trade

Keep it simple and the market TELLS you where it is headed amost all the time

it really is simple if you step back and do some homework not just pull up the chart of the pair you trade and look at your squiggles and try and guess whats happening

old charts here only for visual
Attached Image (click to enlarge)
Click to Enlarge Name: components of the dollar index.JPG Size: 52 KB
Don't chase the market, Let the market come to you
  • #11,979
  • Apr 3, 2010 12:39pm Apr 3, 2010 12:39pm
Quoting Itchy4Pips
2) How about this:
About 1 minutes before the NFP release, we put 2 ORDER trade. We also create the SL for them. Each order is about 5 pips from the current price. The order is the oposite one each other.
Example : The price of EUR/USD 1 minute before NFP release is : 1,3566. So we put 1 BUY order at 1,3571 with SL 1,3546 and TP 1,3599. The other is a SELL order at 1,3561 with SL at 1,3586 and TP 1,3536. This is a shot term trading. But if the price with reach our TP, we can move our TP.
Does is make sense or it's dangeruous ?

Thanks.
- pedma...
I would like to give an opinion on this tactic.

I think 5 pips is way too close to stop the order. If you look at charts during significant news releases the movement is usually at least 50 pips in both directions showing the utter confusion till the news is digested. There are however exceptions where it goes straight up or down so nothing can be counted on. If you look back at announcements you will see that in most cases you would have both orders filled probably resulting in a loss of your pips and position. I agree that being on the sidelines is the safest place during announcements. good luck with your trading.[/quote]



right answer.Itchy4Pips,please have a look at the AUD/USD chart yesterday at 13:31 and see the huuuge movement up and then ig goes down in some minutes.huuuge moovements.
so just stay away
  • #11,980
  • Apr 3, 2010 12:39pm Apr 3, 2010 12:39pm
from a MM standpoint if you know LT direction then any trades against the prevailing trend should be at a lower lot size with tighter stops. This also depends on the major and minor S/P points used be it fibs PP's or whatever you like to use.

ya gotta have a plan and the plan has to start somewhere and mine starts from overall market analysis @ weekly/daily and gets broke down TF by TF until I have my price points I am waiting for price to come to..I then take my trades with much higher confidence because I did my homework. I lose little
Don't chase the market, Let the market come to you
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