Ichimoku forever

Order Removed for the moment

Good morning guys!

Looks like Euro will decline further. I shorted from 1.29750, stoploss 1.29900, first target 1.29200, second target 1.28950.

Good Luck all!!

Good morning all


Still on a short from yesterday in at 13085 but its sitting on resistance atm tested it several times so fingers X

Where's Vic_elc? Does he still post here?

4Xaddict

we've reached your predicted level of 12950 and sitting there but I'm struggling with the exit strategy any suggestions please

Also still watching EURCAD thought I'd wait till it cleared 132093 although would miss some pips are you still of the same view with EC

Regards

Hi Ellie,

To be honest, I am asking people I know for the same sage-like advice that you are looking for but they all tend to agree with my own opinion

The reality at the moment is such that genuine fear and loss of confidence in the management of European Monetary Policy could cause anything to happen. There is so much money out there trying to break the euro at the moment it is crazy however when most of the market are sitting in one camp (short) it is never long before things rapidly reverse at least in the short term.

It is very difficult to predict future moves for many reasons, some basic ones are listed below:

The E/U could continue on slowly losing value right down to the 1.10-120 area (more likely the latter) however we could also see a strong corrective bounce that takes us back around the 1.32-1.34 region if the German goverment makes a very robust decision and works with the Eurozone countries to show a solid plan to more than cater for Greek fiscal problems.

Unfortunately for Greece it is not just that they need to refinance a large sum of debt in the next few months but also the cuts their government needs to make in order to reduce the country's deficit will reduce consumer demand and effectively slow the economy which is the exact opposite that they really need to achieve in order to earn their way out of this problem.

Furthermore, the longer mass strikes continue in Greece the more tax revenue they lose due to workers not earning money which workers then don't spend in shops as they don't have it leaving people working in retail stores with fewer customers, less earnings, less profits and of course less tax going to the government to help pay down debt. It is a vicious cycle one that is very difficult to solve with one solution which is why there is so much fear in the markets at the moment - the markets basically do not trust the capacity of the European governments to be able to adequately solve this issue.

Back to what will move price in the short term though:

If we hear some solid information coming from Spain and a well organised rescue package coming out of Europe then it may stabilize the Euro again and allow it to trade anywhere up to the 1.37-1.38 region before continuing its down trend. This is the base of the weekly/monthly kumos.

The problem with trying to pick a bottom and get in on the counter trend though is that price can always go lower than you expect and continue knocking out your SLs.

Check our the EURNZD 4hr, daily and weekly charts for the last 12 months and you will see how relentless the drop in value of a pair can be over a long period of time without any major correction.

This pair slowly meandered downwards for 12 MONTHS or more and I can assure you that when it's doing this not many people pay attention because they are chasing faster moves. Being short this pair however would have been the most profitable trade in the market in a long time and would have involved simply selling the pair short on a weekly chart and letting it just continue to run for a year. Just when you thought it couldn't get any better, the interest rate differential between the EUR and the NZD is such that by selling EUR to hold NZD which is essentially what shorting the EURNZD is, you borrow EUR at a lower rate and earn interest on the NZD at a higher rate so you would also have made the interest differential on this pair for over 12 months which would be a few percent as well.

The reason that I bring this up is that there are still heaps of other pairs to trade at the moment and the EUR pairs are really heading into no man's land. My attitude would be to stay in if you are in but keep your SLs tight and if you are out, wait for at least some form of rebound or sideways consolidation to occur before jumping in short again.

For those of you trying to pick the bottom for this pair (E/U), good luck!! I hope you pick it however if not it is all good because you are kindly donating liquidity into the market for the rest of us

4x.

It is always an honor and pleasure to read your worthful lectures

Doesn't seem to be many of the original guys around much any more, a real shame.

COME BACK WE MISS YOU ALL

Originally Posted by Mokora http://forexforums.dailyfx.com/image...s/viewpost.gif
Hello all,

Newbie here. Mihaia, Skydiver I have tried testing a 5/50 cross on a 3 min time frame and it gives more magnified entry and exit points.

Please tell me what your thoughts are on this?
Hello all.

On the 5 min time frame, I could not attach here, I see potential short below the cloud. Tenkan has not crossed yet. Please let me have your opinions.

Thank you

Hello all.

Please ignore my previous post. This is my current post.

On the 5 min time frame, I could not attach here, I see potential short below the cloud. Tenkan has not crossed yet. Please let me have your opinions.

Thank you

http://cdn.forexfactory.com/images/misc/progress.gif

Good morning!!!

I'm waiting for:

USD/JPY Long if level 95.00 (97.97) is broken.

GBP/JPY Long if full signal is confirmed

GBP/USD Short if level 1.5111 is broken.

Good trades for all.

Don't forget the USD news out 13.15 and 15.00

Hello,

My post just about 20 min ago, it is starting is descent. Please comment the experts here.

Thanks

Lectures indeed

Apologies to those who already know this information and just wanted to hear "keep your stops tight and wait for a retrace for entry"! It's often easier to cover an issue from the outset to make sure everyone get's the answers they need as quickly as possible.

Any green pips today? I am really p1$$ed I forgot to hit send on my GBP/CHF setup from yesterday for everyone. The EURCAD sell is starting to move now but the GBP/CHF one is now up 130+ and I've got half banked and SL to BE targeting 220+ on the second half of the trade.

Hopefully our project will let me concentrate on what I should be doing

4x.

Thanks Ellie, I'll remember

GBP/[email protected]

Hi mate,

There is quite a strong band of weekly support in the 1.5050-1.5100 area so keep your stops tight on that one.

There will likely be some decent order clusters between the 1.50-1.5100 area due to the psych significance of the buck fifty level and also because the market will not make a decisive move on this pair until the UK election gets sorted tomorrow night GMT.

Best of luck and green pips!!!

Hi all,

This thread will always reflect the contributions of the most active and most committed members. For those of you wanting to see some of the old names back here this will only happen when the bulk of people posting are trading using the original methods that we developed and refined because this is how we trade.

The old names all trade higher TFs and given the thread's current focus on shorter scalping plays you can understand why they aren't here everyday - it simply doesn't work with their trading strategies.

A couple of us still post trade setups to keep the original element in the thread and help new guys to grow and develop as traders but the overall nature of our thread will grow and evolve into whatever our members want it to be and at the moment it appears scalping is the preference. A couple of us are working on some tools that will allow us to monitor a few different ichi methods across several TFs. This should allow people to get their "regular intraday" trading fix whilst also getting the benefits of the longer TF setups.

But in many respects it is up to the individual to do what suits their own trading style. When you logically consider things, most threads are going to be run by those who have the most capacity to be in front of the screen so as they can more easily can keep up and contribute more often.

For these people, the fact they have so much screen time will mean they are inclined to trade more which has to lead to shorter TFs, the longer ones just don't throw up signals every 30min to and hr.

It really depends though on what everyone wants and how long they have available to stare at the screen Generally the best traders eventually spend less time in front of the screen and more time doing what they want because they understand the movements of the markets much more quickly than the average trader. This is the other explanation as to why a lot of the old regulars are not here as much.

4x.

EDITED - TP2 now been moved to 1.3215. Looking to lock in 120 pips on second position.

I am concerned that there will be a short term reversal in EUR crosses on Friday/Monday and therefore am locking in the profits and sitting aside while the risk events take place.

Cheers!

Hi Guys,

TP1 now hit +95 pips on EURCAD sell trade from yesterday.

SL now moved to BE and watching closely. If it battles to get through the 1.3200 handle today I will TP on the other half to bank profits at 1.3210-20 area.

Cheers,
4x.

we might have seen the bottom of this long downtrend move. it may retrace upward or just do the range bound again.