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Ichimoku forever

  • #13,381
  • May 14, 2010 12:32am May 14, 2010 12:32am
kinko

you trade using 5 min chart

how you use 1 hour chart for resistance and target ?

can show example ?

also what time to avoid trading using your method

many thanks
  • #13,382
  • May 14, 2010 2:03am May 14, 2010 2:03am
Quoting webforex
kinko

you trade using 5 min chart

how you use 1 hour chart for resistance and target ?

can show example ?

also what time to avoid trading using your method

many thanks
The two trades on the 15M chart (http://www.forexfactory.com/showpost...ostcount=13357) marked in green on the H1 chart. My target should have been the level at A and not where my exit was at the bottom green line. When it broke out at A the next targets at the flats at B

Be careful at news times.
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  • #13,383
  • May 14, 2010 11:12am May 14, 2010 11:12am
Hi Anyone using FxPro Demo,

Right now(Fri 14-May time near London close) I am unable to connect to this demo chart.

Would like to know if anyone else facing this same issue at this time ??

See whether it is the demo got problem or maybe some auto-update on my virsus scanner that may have suddenly caused this problem.
There is no error message.
Have reboot computer a few times.

Today been running alright, but now got problem and still cannot re-connect for more than 10minutes. And I got a few transactions, and not able to view chart.

Thanks,
FB.
  • #13,384
  • May 14, 2010 12:33pm May 14, 2010 12:33pm
Quoting foxybunny
Hi Anyone using FxPro Demo,

Right now(Fri 14-May time near London close) I am unable to connect to this demo chart.

Would like to know if anyone else facing this same issue at this time ??

See whether it is the demo got problem or maybe some auto-update on my virsus scanner that may have suddenly caused this problem.
There is no error message.
Have reboot computer a few times.

Today been running alright, but now got problem and still cannot re-connect for more than 10minutes....
Hi Foxybunny, i have FXPro, too. Works ok with charts
Do what you want, but do it in love
  • #13,385
  • May 14, 2010 1:26pm May 14, 2010 1:26pm
I opened a short position on EURUSD at 1.23788 hoping to get to the Monthly S3 Pivot level sitting around 1.2287.
Psychologically i am a bit nervous, reason being EURUSD is in a huge down move and i like to be a part of this move but on the other hand it is close to a big support level and it is Friday!!. I hesitated entry at 1.25 level and look where the price is now today. how you over come this feeling?
i have also attached my entry point screen shot on hourly chart.
any comment is greatly appreciated.
Cheers.
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  • #13,386
  • May 14, 2010 1:27pm May 14, 2010 1:27pm
Quoting oli
Hi Foxybunny, i have FXPro, too. Works ok with charts
Hi Oli,

Thank you very much for your reply.

Only after 2-hrs, then it can connect again. Just weird.

This is first time I feel like need a different backup MT4 provider and a backup computer to check!

Wish you a good weekend.

Cheers,
FB.
  • #13,387
  • May 14, 2010 3:10pm May 14, 2010 3:10pm
Quoting soheil
I opened a short position on EURUSD at 1.23788 hoping to get to the Monthly S3 Pivot level sitting around 1.2287.
Psychologically i am a bit nervous, reason being EURUSD is in a huge down move and i like to be a part of this move but on the other hand it is close to a big support level and it is Friday!!. I hesitated entry at 1.25 level and look where the price is now today. how you over come this feeling?
i have also attached my entry point screen shot on hourly chart.
any comment is greatly appreciated.
Cheers.
Mate,

I understand your logic but we are more likely to see a large bounce on Monday morning than further falls.

Because the European government news announcements are so important to the market now, any good news will be released over the weekend just before the markets open in NZ. Truth is there is not a lot of volume in the NZ market to push it down through stops however there will be massive buying if some positive news comes out over the weekend.

My advice, take your cash out of the market and sleep easy over the weekend. You will make pips next week without a problem. Playing for a weekend gap is a dangerous game

Cheers

4x
  • #13,388
  • May 14, 2010 10:33pm May 14, 2010 10:33pm
kinko

your chikou cloud breakout method :

if cloud below SMA 200 : GO SHORT ONLY

if cloud breakout above SMA 200 : GO LONG ONLY

I noticed you also go long when cloud below sma 200 using ks sma 200 cross
or bounds ?
  • #13,389
  • May 15, 2010 3:46am May 15, 2010 3:46am
Quoting webforex
kinko

your chikou cloud breakout method :

if cloud below SMA 200 : GO SHORT ONLY

if cloud breakout above SMA 200 : GO LONG ONLY

I noticed you also go long when cloud below sma 200 using ks sma 200 cross
or bounds ?
General rule: To enter(long) price above cloud and CCI(200) > 50 but it al depends on which timeframe you are on.
OK I am going to give two scenarios. The first one is where you take a time frame eg. 1M and when the conditions are met you enter. See the M1 chart below. Mark the resistance and then go to the higher timeframes and where you are on them. In this case both the 5M and 15 M will show you that there are limits to what you can expect from the market. So do not try and force more from the market. Take what is on offer. If you really want to go long wait for the 5 and 15 to give you that indication. See the next posting for another way to go.
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  • #13,390
  • Edited 4:25am May 15, 2010 4:07am | Edited 4:25am
The second scenario:

You are on the higher timeframe in this case a 15 M. Everything in the chart points to a down trend and there was a retrace the last couple of bars. Now you go to the lower timeframe - 1M in this case and wait for the price to come to you - not trade if lower timeframe breaks up and down you trade with the trend. Once the confirmation is there you enter(below cloud with CCI200<-50 in this case). You are trading with the trend. Look for S/R levels on the higher timeframes that can act as targets. (leftmost vertical red line on the M1 corresponds with the vertical red line on the 15M)
Forex is about support, resistance and trends. Go against the trend but know exactly how far you can go against the banks or take the trade with the trend and smile all the way to the bank.
The very same can be done at critical support and resistance levels on all time frames. It can bounce from S/R or it can break the S/R level. Be ready on the lower timeframe to enter up or down.
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  • #13,391
  • May 15, 2010 7:10am May 15, 2010 7:10am
If you do not want to use the Kijun You can always use the Ichi cloud for directions in combination with the future chikou or 1SMA cloud. As soon as you have an exit from an Ichi cloud you start to look for trading opportunities in a lower time frame.
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  • #13,392
  • Edited May 16, 2010 2:45am May 15, 2010 9:52am | Edited May 16, 2010 2:45am
The very same results can be achieved by using SMA's instead of Ichi(Post 13390) BUT with Ichi it is so much easier to decide. The sudden movement of the Tenkan and Kijun and the cloud break will give you a direct indication of action to be taken. Just add some SMA's and compare the two.
The principle behind a successful trade is to be aware of what is happening in the higher as well as the lower time frames. You can make a much better informed decision if you are aware of the bigger picture. Do not be blindfolded to one time frame.

Amen
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  • #13,393
  • May 15, 2010 3:46pm May 15, 2010 3:46pm
Quoting fxripper
future kumo broken to the upside. upward move might be possible
usdchf update. it rockets up to 1.3152. wee! 6 trades with 1 loss and the last one is still open with SL at BE.
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  • #13,394
  • May 15, 2010 10:02pm May 15, 2010 10:02pm
Kinko

How to effectively identify the support and resistance level using your system ??
  • #13,395
  • May 16, 2010 6:48am May 16, 2010 6:48am
Quoting webforex
Kinko

How to effectively identify the support and resistance level using your system ??
When you have a Price S/R line cross, the price will go for the next target(S/R line) If the target is crossed it will try the next target. If the target cannot be crossed price will go back and retest the previous S/R line. If the previous S/R line cannot be crossed it will once again try and cross the target line.
It is a constant battle between two S/R lines to attract the price.

Every flat on the kijun cloud(which is basically a kijun line highlighted to show its importance) to the left of the price represents a S/R line. New S/R lines are created all the time at the right hand side of the price for future use. Draw all the S/R lines on the left hand side of the price and see how the battle of the lines unfold.
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  • #13,396
  • May 16, 2010 10:24am May 16, 2010 10:24am
kinko

what indicator you use to draw those green horizontal lines ?

my s/r indicator only have one or 2 lines .

so if trade on 5 min chart , enter trade using 1 min chart , exit trade using
target tp on 15 min chart ?

but i saw you use red vertical lines for exit ?
  • #13,397
  • May 16, 2010 11:12am May 16, 2010 11:12am
Quoting webforex
kinko

what indicator you use to draw those green horizontal lines ?

my s/r indicator only have one or 2 lines .

so if trade on 5 min chart , enter trade using 1 min chart , exit trade using
target tp on 15 min chart ?

but i saw you use red vertical lines for exit ?

I added the green lines manually from the previous flats of the chikou cloud. The red line was also manually added to show a possible entry point.
( The properties of the lines can be changed or deleted by double clicking on the line and then select the line and change the properties or delete the line. Once properties were changed double click on the line to fix. If you want to delete all the lines simply reload the template)

Yes you can use the 1M to enter for a 5M chart and the targets of a 15M - BUT also have a look at the H1 and higher.
  • #13,398
  • May 16, 2010 11:40am May 16, 2010 11:40am
Hey Kinko, thanks for the great explanations of your fantastic method.


I have a few questions

Could we just use pivot points for take profit and sl?

I like to trade using the 1h and 4h chart, how effective do you think this method will be on these TF's if at all possible?

Also what pairs do you prefer to trade and how best to monitor them all?

Thanks man
  • #13,399
  • Edited 3:51pm May 16, 2010 12:58pm | Edited 3:51pm
Quoting ichidakiller
Hey Kinko, thanks for the great explanations of your fantastic method.


I have a few questions

Could we just use pivot points for take profit and sl?

I like to trade using the 1h and 4h chart, how effective do you think this method will be on these TF's if at all possible?

Also what pairs do you prefer to trade and how best to monitor them all?

Thanks man
I cannot comment on the use of daily pivot points published on websites as I do not use them but if you refer to the highs and lows of the Chikou, then yes.
I use the 5M as the timeframe to do my attacks from but I keep an eye on all the timeframes. The principle of S/R lines should be applicable to all timeframes so I see no reason why you cannot use it in the higher timeframes. The S/R lines of the lower timeframes will then be discarded as "noise". How effective in the higher timeframe ? - I really do not know.

I trade EURUSD, GBPUSD, USDJPY and AUDUSD and have all 4 visible. From there it is easy with a double click to have a fullscreen.
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  • #13,400
  • May 16, 2010 5:27pm May 16, 2010 5:27pm
Quoting Kinko
I cannot comment on the use of daily pivot points published on websites as I do not use them but if you refer to the highs and lows of the Chikou, then yes.
I use the 5M as the timeframe to do my attacks from but I keep an eye on all the timeframes. The principle of S/R lines should be applicable to all timeframes so I see no reason why you cannot use it in the higher timeframes. The S/R lines of the lower timeframes will then be discarded as "noise". How effective in the higher timeframe ? - I really do not know.

I trade EURUSD, GBPUSD, USDJPY...
Brilliantly explained, thanks a lot, Im going to give this method a go this week

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