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Ichimoku forever

  • #13,101
  • May 4, 2010 2:54am May 4, 2010 2:54am
Quoting herty
Hi Kinko,

Could you please give another example showing where you place the horizontal line for an entry?

Thanks,

Herty
And the GBPUSD 5m
Attached Image (click to enlarge)
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  • #13,102
  • May 4, 2010 3:25am May 4, 2010 3:25am
Quoting acidevil
hi fxripper, may i know how do u plot 2 different of kumo over the same chart?and also, does the dark green line act as Ks on h1 chart?
hi. just place 2 ichimoku on the same chart. first with the original settings and the second one is to be multiplied. for example, if u trade o m15, u wanna have a cloud on H1. so u open a m15 chart, place the first ichimoku with original settings (9,26,52) and then place the second one with the setting multiplied by 4 because to build a H1 candle requires 4 M15 candles. so the settings would be (36,104,208).
  • #13,103
  • May 4, 2010 4:00am May 4, 2010 4:00am
Quote
Originally Posted by Kinko http://cdn.forexfactory.com/images/buttons/viewpost.gif
What I find helpful is to zoom out the chart and then draw trendlines at the dips and bumps of the Chikou. When the chikou then break those trendlines as well as the horizontal on the last Chikou bump(dip) its time to enter.
Quoting Kinko
You can do the same with only the Chikou and price on the chart.
In effect you only need the Chikou or 1ma(-26) on the chart to be able to trade effectively.
Hi Kinko,

Could you explain more about this? I don't understand where are the dips and bumps of the Chikou? and what is the last Chikou's horizontal?

Thanks in advanced..
  • #13,104
  • May 4, 2010 5:31am May 4, 2010 5:31am
Quoting a2xm
Hi Kinko,

Could you explain more about this? I don't understand where are the dips and bumps of the Chikou? and what is the last Chikou's horizontal?

Thanks in advanced..

I have two trendlines in the image below

Red Trendline B-B with the horisontal bb-bb drawn at the previous low(dip) of the chikou - see the red arrow.
Entry point is where we have a chikou-bb-bb line cross

Yellow Trendline A-A with horisontal drawn at previous low(dip) of the chikou - see the yellow arrow.
Entry point where we have a chikou -aa-aa line cross.

The more you play around with it the easier it gets to spot the entry points.
I only have the chikou on the chart otherwise it becomes messy.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-chikou.gif Size: 34 KB
  • #13,105
  • May 4, 2010 5:42am May 4, 2010 5:42am
Hi All,

I have a 4hr trade that I have just opened literally this minute. I like it given the strong EUR bearish sentiment in the market. Both the EUR/CAD and GBP/CAD are setting up for this trade however if you check the EUR/GBP as a reference you can see that the EUR is the weaker of the two currencies so the EUR/CAD has a greater chance of further weakness.

See below for the logic and hope you get some green out of this one.

EURCAD,
SHORT @ 1.3330-1.3335
SL @ 1.3395 (10 pips above 1hr KS)
TP1: 1.3240 just above most recent swing low
TP2: 1.3000 trail SL above 4hr KS
Reason: 4hr kumo break has occurred and just waited for 1hr candle retest of weekly pivot area S1. Daily and weekly support trend. 4hr TS/KS cross has just occurred on previous 4hr candle.
R:R: 60 pips at risk: 95 pips initial target (335 pips in extension to TP2)

Relevant Info: Not a lot of support below here except weekly pivot support levels with next swing low around 1.2540 area.

Cheers

4x.
  • #13,106
  • May 4, 2010 5:58am May 4, 2010 5:58am
Quoting a2xm
Hi Kinko,

Could you explain more about this? I don't understand where are the dips and bumps of the Chikou? and what is the last Chikou's horizontal?

Thanks in advanced..
Same as previous - EURUSD H1
Trendline AA
Horisontal line aa-aa drawn at previous low of Chikou - see yellow arrow
Entry at chikou break of the aa-aa line

Target level at A
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.gif Size: 37 KB
  • #13,107
  • May 4, 2010 6:16am May 4, 2010 6:16am
EUR/GBP-1H-Short @ 0.8638
Attached Image (click to enlarge)
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  • #13,108
  • May 4, 2010 6:42am May 4, 2010 6:42am
hI gUYS

sORRY FOR PREVIOUS BAD ATTITUDE BACK IN oCTOBER - Been doing some work on pitchforks with Itchi. Gives some nice entry points. Check out Gold 2h
Attached Image (click to enlarge)
Click to Enlarge Name: Spot Gold Mini (10oz) (-).png Size: 32 KB
  • #13,109
  • Edited 7:20am May 4, 2010 6:55am | Edited 7:20am
Drawing pitchforks requires accurate identification of previous and current swing highs and lows. By incorporating Itchy these become really obvious because you choose the last high or low before a move through the cloud to choose your pivots. It then gives you really high probability setups or areas where you can look for possible divergent candles in the future. Hope this helps you guys as much as it has helped me!!
It's amazing how well (like Itchy) it can predict future price movement. Draw some pitchforks on a daily gold chart if you are in any doubt.
  • #13,110
  • May 4, 2010 7:22am May 4, 2010 7:22am
USDollar up again but heavily overbought
Attached Image (click to enlarge)
Click to Enlarge Name: USDX H1.png Size: 81 KB
Do what you want, but do it in love
  • #13,111
  • May 4, 2010 7:32am May 4, 2010 7:32am
Quoting herty
Hi Kinko,

Could you please give another example showing where you place the horizontal line for an entry?

Thanks,

Herty
To simplify the lot only draw the chikou but this time in the future from +14 to +40 (or the 1MA shift from +14 to +40)
This will create a cloud in front of the price
Enter when the price leaves the cloud - easy as that
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd5mfuturechikou.gif Size: 31 KB
  • #13,112
  • May 4, 2010 7:43am May 4, 2010 7:43am
Quoting Kinko
To simplify the lot only draw the chikou but this time in the future from +14 to +40 (or the 1MA shift from +14 to +40)
This will create a cloud in front of the price
Enter when the price leaves the cloud - easy as that

Add the ichi chart to make more sense
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd5mfuturechikou-ichi.gif Size: 38 KB
  • #13,113
  • May 4, 2010 7:53am May 4, 2010 7:53am
Hi Everyone.
Shorted 0.1 lot EURUSD at 1.30907 stop loss at 1.31817. entry time frame was H1.
if you want to grade this trade in ABC scale what would be this trade grade?
I think this is a B trade.
Comments are appreciated.
Attached Image (click to enlarge)
Click to Enlarge Name: H1.jpg Size: 405 KB
  • #13,114
  • May 4, 2010 8:19am May 4, 2010 8:19am
Quoting Kinko
Same as previous - EURUSD H1
Trendline AA
Horisontal line aa-aa drawn at previous low of Chikou - see yellow arrow
Entry at chikou break of the aa-aa line

Target level at A
Wow... that was really clear.. thanks to explain it in detail.. and thanks so much to share your method with us here.. many green pips for you..!
  • #13,115
  • May 4, 2010 9:02am May 4, 2010 9:02am
Quoting soheil
Hi Everyone.
Shorted 0.1 lot EURUSD at 1.30907 stop loss at 1.31817. entry time frame was H1.
if you want to grade this trade in ABC scale what would be this trade grade?
I think this is a B trade.
Comments are appreciated.
I agree. I jumped after a break and close below the resistance at 13085. TP1 13035 - 50 pips
  • #13,116
  • May 4, 2010 9:54am May 4, 2010 9:54am
Quoting 4xAddict
Hi All,

EURCAD,
SHORT @ 1.3330-1.3335
SL @ 1.3395 (10 pips above 1hr KS)
TP1: 1.3240 just above most recent swing low
TP2: 1.3000 trail SL above 4hr KS

Cheers

4x.
I am with you 4x
Siris
  • #13,117
  • May 4, 2010 10:01am May 4, 2010 10:01am
EURUSD - Shot Down by the Kumo, 1.3000 in its sights
GBPUSD - Killed by the 20ema
AUDUSD - You like watching paint dry?
USDCAD - Attempting a base but can we trust?
USDJPY - Is it for real? Above the Kumo?
Full Report Available here from Chris Capre
  • #13,118
  • May 4, 2010 10:53am May 4, 2010 10:53am
Hi

USDJPY just fell from the cloud at 7am this morning and never really retraced enough for me to trigger an entry

Same for EURUSD nice long down trend but no actual trigger for me

GBPUSD was better 2 entries +10 and +20

USDCHF 1 sig early this morning for +22

In both cases above it was a little doji of the opposite colour on the 15min that took me out then both went stonking on for 3 times the pips...

Thats difficult to see but we have positive pips

P
  • #13,119
  • May 4, 2010 11:29am May 4, 2010 11:29am
In effect you only need the Chikou or 1ma(-26) on the chart to be able to trade effectively.

>> kinko

can you explain above ?

how to get 1ma ( -26) ?

your horizontal line chikou breakout good for what timeframe ?

many thanks
  • #13,120
  • May 4, 2010 11:38am May 4, 2010 11:38am
Quoting legalindo
EUR/GBP-1H-Short @ 0.8638
Close: + 40 pips
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