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Ichimoku forever

  • #14,081
  • Nov 2, 2010 4:23pm Nov 2, 2010 4:23pm
Quoting Ichi Kid
Out of the three trades, what did I miss with the GBP/USD, It hasn't completely failed yet, but it would have run at a loss if entered....what did I miss?

Your help welcome in helping me iron out the kinks in my understanding.
Not sure you missed anything mate, just that price action is caught in a tight range at the moment. The trend is ichi's friend but sideways markets can become expensive using ichi on higher timeframes.

Wait till the news breaks tomorrow and you should see a move that will get things moving!
  • #14,082
  • Nov 2, 2010 4:38pm Nov 2, 2010 4:38pm
Hey I've just started reading through the thread so far, but I was wondering how to set up that custom indicator onto my charts, I have never used a custom indicator before.

Any help or point in the right direction would be appreciated.

Thanks!
  • #14,083
  • Nov 3, 2010 12:59am Nov 3, 2010 12:59am
Hi All, thanks for the responses and feedback. It's really great to see this thread breathing some new life. I shall give Alpari a whirl as recommended. FXCM can "eat my shorts" as they say...
  • #14,084
  • Nov 3, 2010 1:35am Nov 3, 2010 1:35am
Hello guys,

I just want to say hello. I have been trading part-time for 4 years using a SMAs-based system supported with customized MACDs. I like trends and I basically trade on 4h timeframe for swings. Sometimes I use 1h TF. For intraday trading I like 5-min TF.

Well, after a deep analysis I decided to shift to Ichimoku. SMAs are like the hand fingers working isolated, but Ichimoku is like the whole hand parts working together.

I am from Costa Rica and I also like to help Spanish-speaker traders.

my best,

A.
  • #14,085
  • Nov 3, 2010 5:46am Nov 3, 2010 5:46am
Hi, looks like the H4 is breaking long on the EURUSD, although resistance at 1.4100 and then 1.4160...any thoughts?
Attached Image
  • #14,086
  • Nov 3, 2010 6:34am Nov 3, 2010 6:34am
Quoting Ichi Kid
Hi, looks like the H4 is breaking long on the EURUSD, although resistance at 1.4100 and then 1.4160...any thoughts?
Same view but since ts and ks is flat in most lower tf could mean it is consolidating awhile. I still prefer it to be in equilibrium before trading it again.
  • #14,087
  • Nov 3, 2010 6:38am Nov 3, 2010 6:38am
Quoting vic_elc
http://www.viafy.com/uploads/9859c003fa.jpg

EVERYTHING IN HERE IS FOR FREE

Welcome traders to Ichimoku forever thread
This thread is getting bigger more than expected , lots of proffisional people are around and helping each other, I’ll try to make things easy for you before you jump into the last page

-[color=Blue]If you are looking for a fast money making system I can assure you that you are in the wrong place and this thread will not...

Hi Vic, thanks for this topic I just found it I was curious to find out more. I am a price action based trader which I rely heavy on zones. ONe reason I am open to this is because it looks like Ichimoku can help with some confluence. I also hear this is very very popular on USDJPY by big banks that the Japanese use. Do you know if this is true. Does BOJ look at this at all? Thanks in advance.
Know when to hold em, Know when to fold em!
  • #14,088
  • Nov 3, 2010 7:35am Nov 3, 2010 7:35am
Hi Gerald, while I can see the pair is Range Bound, I am not quite sure how to read what the Ichi is telling us..?

i.e I don't see/understand how to read that ichi is telling me consolidation is in progress? (although I can see that on the chart pattern)

because of this I would have traded what I thought was being indicated, and bought, and subsequently had a losing trade.

Is it a case of if there are either flat lines on the TS or on the KS that you don't trade?
  • #14,089
  • Nov 3, 2010 9:58am Nov 3, 2010 9:58am
Quoting Ichi Kid
Hi Gerald, while I can see the pair is Range Bound, I am not quite sure how to read what the Ichi is telling us..?

i.e I don't see/understand how to read that ichi is telling me consolidation is in progress? (although I can see that on the chart pattern)

because of this I would have traded what I thought was being indicated, and bought, and subsequently had a losing trade.

Is it a case of if there are either flat lines on the TS or on the KS that you don't trade?
When Ts or Ks is flat means there is no trend = consolidation.
  • #14,090
  • Nov 3, 2010 10:23am Nov 3, 2010 10:23am
Quoting goods
Hi Vic, thanks for this topic I just found it I was curious to find out more. I am a price action based trader which I rely heavy on zones. ONe reason I am open to this is because it looks like Ichimoku can help with some confluence. I also hear this is very very popular on USDJPY by big banks that the Japanese use. Do you know if this is true. Does BOJ look at this at all? Thanks in advance.

Can anyone answer me please
Know when to hold em, Know when to fold em!
  • #14,091
  • Nov 3, 2010 4:00pm Nov 3, 2010 4:00pm
Hi Goods,
I'm afraid Vic has left the thread and gone commercial but I am sure your questions will be answered by our more knowledgable ichi warriors.
Good luck
  • #14,092
  • Nov 3, 2010 4:10pm Nov 3, 2010 4:10pm
Quoting goods
Can anyone answer me please
mate your question has probably not been answered quickly because of how broad brush or generalized it is.

Japanese banks do trade ichimoku a lot in their technical analysis, you only have to watch the finance channels to see their analysts banging on about kumos etc.

Ichi works great on majors and particularly with JPY denominated pairs however it also performs well on gold and oil. Simply because it is using moving averages to establish ranges of support and resistance.

It is particularly good in trending markets for establishing overall trend direction allowing you to trade price action more confidently on lower timeframes knowing where the Roof/Floor should remain in the market.

If you give some more specific information about how you actually trade then I can answer more specifically with relation to ichimoku however www.kumotrader.com is a good place to start to get the basic gist of how things work if you can't be arsed reading the whole thread.

Cheers,

4x.
  • #14,093
  • Nov 4, 2010 7:04am Nov 4, 2010 7:04am
Quoting 4xAddict
mate your question has probably not been answered quickly because of how broad brush or generalized it is.

Japanese banks do trade ichimoku a lot in their technical analysis, you only have to watch the finance channels to see their analysts banging on about kumos etc.

Ichi works great on majors and particularly with JPY denominated pairs however it also performs well on gold and oil. Simply because it is using moving averages...

Thank you all for your help in this. I have looked over this myself (the indicator itself) it seems pretty self explanatory. I used a 15 min entry based on what I saw to be support confirmed by ichimoku cloud. Placed the trade last night took some time to get in profit but up about 33 pips so far. I bought cadjpy on it. Interesting I will be looking to play around with this more and thank you much for the links. I am going to find a video series on it perhaps there is one in that link you provided me. Thanks again.
Know when to hold em, Know when to fold em!
  • #14,094
  • Nov 4, 2010 10:20am Nov 4, 2010 10:20am
Quoting goods
Thank you all for your help in this. I have looked over this myself (the indicator itself) it seems pretty self explanatory. I used a 15 min entry based on what I saw to be support confirmed by ichimoku cloud. Placed the trade last night took some time to get in profit but up about 33 pips so far. I bought cadjpy on it. Interesting I will be looking to play around with this more and thank you much for the links. I am going to find a video series on it perhaps there is one in that link you provided me. Thanks again.
Webinar 1:
Title: Basics of Ichimoku
Direct Link: www.eiicapital.com/video/ichi101.zip
Type: Zipped compressed file
Password: Kumo (Case sensitive)

Webinar 2:
Title: Forex 101
Direct link: www.eiicapital.com/video/Forex101.zip
Type: Winzip (Compression)
Password: hyo

This guy from Eiicapital sent Vic and I this a long time ago but they are a couple of pretty good videos.

This is not my production work and all credit for these videos goes to the guys at eiicapital. I don't use their services and can't couch for them but this is pretty good learning material.

Cheers, 4x
  • #14,095
  • Nov 4, 2010 1:01pm Nov 4, 2010 1:01pm
This is the youtube channel for same guy mentioned in the above posts

http://www.youtube.com/user/sunman40...23/zGHRVBaRQJo

he has separate videos for each part of ichimoku, they are all the way down on the bottom of his video list.
  • #14,096
  • Edited 4:20am Nov 5, 2010 4:09am | Edited 4:20am
Hey, thanks for the videos, I too will check those out over the weekend. I got 70pips yesterday closing out on a stop in the early hours on the USDCHF shorting on the H4.

I have been watching this one progress, any reasons not to SHORT this pair GBPAUD H4...? (once the TS and CS drop out of the cloud)
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-AUD H4 05-11.JPG Size: 73 KB
  • #14,097
  • Nov 5, 2010 9:08pm Nov 5, 2010 9:08pm
Not yet. So many people have been trying to catch the top on this pair and other USD crosses and they are all burned right now. Technically speaking the USD is in a bearish trend since June 2010 and it could hold this trend for longer time.

Ichimoku offers us a clue on what could be going on. Last time this pair was trading within the monthly kumo bouncing up from a bearish scenario was in September 1994. That time the pair broke the kumo to the upside and trades above the kumo for 10 consecutive months. Then, it was trading within the kumo again for 11 consecutive months until the kumo was broke to the downside on January 1997. I’m not saying that the same situation is going to happen again, but look what is going on right now.

EURUSD is trading within the monthly kumo and likely is going to close November inside it. Next resistance level is 1.4600, support is seen at 1.3835 level. If December closes above 1.4200 the kumo is intact and the pair will be shifting its long-term structure from bearish to bullish. 1.4200 will become new support. The Span-B will remain at 1.3835 for a while.

In other words, if the USD keeps its current path during November-December the EURUSD is not going to drop below 1.3800 in the short-term, and 1.4200 could become the new support after December.

This is what Ichimoku analysis offers us today. Let’s see how the market will develops in coming weeks.

Adrian
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Monthly 1994-2010.jpg Size: 83 KB
  • #14,098
  • Nov 6, 2010 6:44pm Nov 6, 2010 6:44pm
Quoting arodriguez
Not yet. So many people have been trying to catch the top on this pair and other USD crosses and they are all burned right now. Technically speaking the USD is in a bearish trend since June 2010 and it could hold this trend for longer time..........Let’s see how the market will develops in coming weeks.[/font][/size]

Adrian
I agree Adrian. I would like to see the EU @ 1.33-1.3650 level before moving higher based on my other analysis but agreed that longer term unless the euro zone implodes we will see 1.50+

Inside the kumo just means market is undecided and will offer nice range trading on 1hr and 4hr tfs until it breaks. Reversal in kumo projection however suggests downside risk remains in the near term.

Nice analysis
  • #14,099
  • Nov 7, 2010 12:17am Nov 7, 2010 12:17am
Quoting 4xAddict
I agree Adrian. I would like to see the EU @ 1.33-1.3650 level before moving higher based on my other analysis but agreed that longer term unless the euro zone implodes we will see 1.50+

Inside the kumo just means market is undecided and will offer nice range trading on 1hr and 4hr tfs until it breaks. Reversal in kumo projection however suggests downside risk remains in the near term.

Nice analysis
Thanks 4x for your inputs. yes, I'm aware that monthly Ichimoku remains mixed with a future bearish kumo and a bearish KS/TS cross, but look at 1994 chart... situation was very similar and after few months the KS/TS turned bullish and the break above the kumo was confirmed. Anyway, that is history; for now I do think it's a good idea to trade the range inside the monthly kumo and my preference is bullish while trading above the weekly kumo.

my best,

A.
  • #14,100
  • Nov 7, 2010 5:01pm Nov 7, 2010 5:01pm
Quoting arodriguez
Thanks 4x for your inputs. yes, I'm aware that monthly Ichimoku remains mixed with a future bearish kumo and a bearish KS/TS cross, but look at 1994 chart... situation was very similar and after few months the KS/TS turned bullish and the break above the kumo was confirmed. Anyway, that is history; for now I do think it's a good idea to trade the range inside the monthly kumo and my preference is bullish while trading above the weekly kumo.

my best,

A.
Mate I agree, range bound for the moment and a great chance to make some really good pips on 1hr and 4hr charts will the break out.

I love the fact that you are watching such a long timeframe to give guidance on where price action will go in the future.

This is what all new ichimoku traders need to do. Pay attention to Adrian's analysis here everyone, this is a guy who will be making money in the longer term
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