Reason:
5-Min chart showing price cross down both TS and KS.
Below Kumo for 1-Hr and 5-Min.
It is creeping out slowly from 1-Hr Kumo.
Bouncing Down on 1-Hr TS.
5-Min & 1-Hr Chinkou below price.
Stop Loss just around 1-Hr KS.
Note that near round number 117.00, so need something big to help it break down, otherwise it may just bounce off this round number and go Up instead.
Also still in Asian session, no big move yet till Europe session.
I need your opinions here. I see a TS/KS cross below Kumo on EUR/USD H4 today. What do you guys think? And where the ideal place to put the StopLoss?
Thanks..
Ignored
Hi a2xm,
Your Stop Loss really depends on:
what is your entry price for Eur/Usd-Short,
what time frame you looking at,
what is your Reward:Risk ratio,
what is your Target Profit,
and how much are you willing to lose ?
Don't mind to share how do you pick 1.4929 as your entry point? what the reasons behind it and is it only based on H1 TF?
Thanks...
Ignored
That entry was late to be honest. I was out when I heard the government deal had been agreed. It was a fundementals based trade but backed up by Medium strength crossover on H1 and weak crossover on H4. I dont really look at any TF lower than 15m.
Reason:
5-Min chart showing price cross down both TS and KS.
Below Kumo for 1-Hr and 5-Min.
It is creeping out slowly from 1-Hr Kumo.
Bouncing Down on 1-Hr TS.
5-Min & 1-Hr Chinkou below price.
Stop Loss just around 1-Hr KS.
Note that near round number 117.00, so need something big to help it break down, otherwise it may just bounce off this round number and go Up instead.
Also still in Asian...
Ignored
Final Update.
The above order hit SL: 117.85 (-80 pips).
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Joined Aug 2008
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Status: Surf The Waves
|177 Posts
Hi Guys,
Can anyone say which timeframe works best for Ichimoku analysis. I have been using the 4 hour time frame and placing trades in the 15 minute and so far it seems to be working out OK. However, I am still in the early learning stages as far as this indicator is concerned.
Can anyone say which timeframe works best for Ichimoku analysis. I have been using the 4 hour time frame and placing trades in the 15 minute and so far it seems to be working out OK. However, I am still in the early learning stages as far as this indicator is concerned.
Ignored
Hi fxpilot,
Ichimoku analysis works well on many time frames.
Would not say one specific timeframe is best.
It is more important to see which time frame is more suitable for your character, and when are you available at the screen.
Many traders in this thread have used various timeframes, and it still works well for them.
I personally look mainly at Daily, 1-hr, 15-min and 5-min.
Nothing wrong with 4-Hr, just not use to look at 4-Hr.
If you doing well with 4-Hr and 15-Min, stick with that first to see how well you can do, later then experiment with other timeframes.
