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Ichimoku forever

  • #14,281
  • Nov 17, 2010 7:30am Nov 17, 2010 7:30am
Waiting for a Kumo breakout (H1 or H4), what dou you think?
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  • #14,282
  • Nov 17, 2010 7:43am Nov 17, 2010 7:43am
Despite the News blips it looks as though the Spreadsheet pairs are all unchanged.
  • #14,283
  • Nov 17, 2010 8:09am Nov 17, 2010 8:09am
Quoting Sixer
GeraldFX,

thanks for your explanations. I`m loooking for a last downmove of the pattern which started at 1.4282:

http://yfrog.com/2gdeurusd901711g

Sixer
Hi Sixer,

check the daily on EU and see we are in the kumo. Watch for a reaction off the base of the kumo. 1.33-1.3330 area is a key area here with fibonacci support and some MAs also supporting this level. If price reverses here then we could get a retracement to the kumo top which would be around 1.3750-60 area by my estimates or at least 1.3640. these areas also coincide with daily fib retracement levels.

Depends how desperate you are to enter the trade. I get 1.33-1.3310 as the near term bottom but with upside risk potential showing almost 2X the possible reward I am sitting aside in this pair.

Shorter term you probably want to see a 1hr KS retest before going short but 4hr would be better.

Cheers.
  • #14,284
  • Nov 17, 2010 8:10am Nov 17, 2010 8:10am
Welcome back Vic & 4xAddict.


Hi GeraldFX,

In the Excel file, is the point system coded in?

For USD/JPY, please change "CHF" to "JPY" in the cell under Point System - Counter.


Ranking System suggestions:
- First need to determine whether to give equal weighting to both H1 and H4.

If equal weighting:
H1 - U => +1
H1 - D => -1
H4 - U => +1
H4 - D => -1
N (neutral) => 0

If different weighting, where the trend on H1 is consider better indication, then weighting:
H1 - U => +2
H1 - D => -2
H4 - U => +1
H4 - D => -1
N (Neutral) => 0

Then to give additional 3 bonus points if both H1 & H4 are same.
Exception if both H1 & H4 are Neutral, still get 0 point.
eg.
(A)
EUR/USD, H1-U , H4-U.
EUR = +2 +1 +3 = +6
USD = -2 -1 -3 = -6


(B)
EUR/USD, H1-D , H4-D.
EUR = +2 +1 +3 = +6
USD = -2 -1 -3 = -6


(C)
EUR/USD, H1-U , H4-D.
EUR = +2 -1 +0 = +1
USD = -2 +1 +0 = -1


My preference would be give more weighting on H1.
And to give the Bonus Points.

Cheers,
FB.
  • #14,285
  • Nov 17, 2010 8:12am Nov 17, 2010 8:12am
Quoting GeraldFX
How did you get 1.3458? The price has not moved to there yet Unless you did a pending order.

I'm looking for a possibility for long GBPCHF if it has a good cross above kumo in M1. If enter, need to watch out for GBPCHF daily senkou span B.
Be careful on the CHF crosses mate. I get them looking weak on USDCHF and EURCHF and given latest GBP performance there is no compelling reason I can see for it to outperform the other risk currencies.

I took EURCHF short this morning @ 1.3445 targeting 1.3320 and 1.32 in extension. Stops above 1.3530.

Cheers.
  • #14,286
  • Nov 17, 2010 8:19am Nov 17, 2010 8:19am
4xAddict,

thanks for your thoughts with regard possible price targets for the Euro - i consider a 50% retracement of the actual move too.

Sixer
  • #14,287
  • Nov 17, 2010 9:03am Nov 17, 2010 9:03am
Hello Guys

how was our 1st day trading with the sheet ??!!


i see that there are some feedback regarding the point system from FB , i think we need to work on this pointing system for a while.

any other feedback ??!! , any errors with the sheet any problems ??!! , anything we can add help us ??!!

cheeers
vic
  • #14,288
  • Nov 17, 2010 9:05am Nov 17, 2010 9:05am
Quoting 4xAddict
Guys it is more about making sure that there is always someone to update it rather than taking turns.

Vic is trying to create a group here of committed traders to act as a support network for each other and reduce the amount of double ups and wasted time with everyone all doing different analysis.

The most important thing is to establish when people are available (in which time zones) and then work out who can help. From experience it is better to have a couple of people take control rather than many because it means things will naturally...
hey mate

how are you ??!!! long time no see , am sorry guys i have been busy with my job and my trading most of the time, it seems that we eaither have to focus on our charts or focus in the forum .
i'll be doing my best to focus on both of them as much as i can
hope u all doing great
cheeers
  • #14,289
  • Nov 17, 2010 9:17am Nov 17, 2010 9:17am
Quoting foxybunny
Welcome back Vic & 4xAddict.



Ranking System suggestions:
- First need to determine whether to give equal weighting to both H1 and H4.
...........................

My preference would be give more weighting on H1.
And to give the Bonus Points.

Cheers,
FB.
I think the current rating is only when there is a signal, it rates all the pairs that have a signal against each other. It sounds like you are thinking more of a rating regardless of signal, is that what you are thinking?
  • #14,290
  • Nov 17, 2010 9:19am Nov 17, 2010 9:19am
Quoting vic_elc
hey mate

how are you ??!!! long time no see , am sorry guys i have been busy with my job and my trading most of the time, it seems that we eaither have to focus on our charts or focus in the forum .
i'll be doing my best to focus on both of them as much as i can
hope u all doing great
cheeers
Hi mate,

I am well. Things are going great.

Heading to NY tomorrow for a holiday for 10 days.

Trading full time and working with a couple of guys managing some funds at present, slowly expanding things which is good. Going to start a live trading room for people here to watch me/the guys trade live on these funds and trade along if they like. Seems like the only way I can get enough time to help people, as you say the forum sucks away all you trading time and makes no one any money as a result

You still flat out at Orange?
  • #14,291
  • Nov 17, 2010 9:20am Nov 17, 2010 9:20am
Quoting foxybunny
Welcome back Vic & 4xAddict.


Hi GeraldFX,

In the Excel file, is the point system coded in?

For USD/JPY, please change "CHF" to "JPY" in the cell under Point System - Counter.


Ranking System suggestions:
- First need to determine whether to give equal weighting to both H1 and H4.

If equal weighting:
H1 - U => +1
H1 - D => -1
H4 - U => +1
H4 - D => -1
N (neutral) => 0

If different weighting, where the trend on H1 is consider better indication, then weighting:
H1 - U => +2
H1 - D => -2
H4 - U => +1
H4...
i agree with u , the pointing system needs some adjustment to reflect the real situation of the market , i think we all need to discuss this issue
  • #14,292
  • Nov 17, 2010 9:23am Nov 17, 2010 9:23am
Quoting 4xAddict
Hi mate,

I am well. Things are going great.

Heading to NY tomorrow for a holiday for 10 days.

Trading full time and working with a couple of guys managing some funds at present, slowly expanding things which is good. Going to start a live trading room for people here to watch me/the guys trade live on these funds and trade along if they like. Seems like the only way I can get enough time to help people, as you say the forum sucks away all you trading time and makes no one any money as a result

You still flat out at Orange?
that's great news, am sure u r trading like a hunter

for me things are good, after all the time it was my chart that i needed to focus on , life is great , and yeah still wasting my time in orange
but i love this silly network job cause i am a silly engineer after all hehe

but one day i'll be free as i always promise myslef
hope to see u around mate
cheers
  • #14,293
  • Nov 17, 2010 11:05am Nov 17, 2010 11:05am
Quoting vic_elc
i agree with u , the pointing system needs some adjustment to reflect the real situation of the market , i think we all need to discuss this issue

I think FoxyB is right about awarding an additonal point when both H1 and H4 are in agreement and therefore showing a stronger trend.

Would awarding a further score for Aligment with overall Daily trend also be an idea for those pairs where H1 H4 and Daily are the same direction?
  • #14,294
  • Nov 17, 2010 11:55am Nov 17, 2010 11:55am
Quoting foxybunny
Welcome back Vic & 4xAddict.


Hi GeraldFX,

In the Excel file, is the point system coded in?

For USD/JPY, please change "CHF" to "JPY" in the cell under Point System - Counter.


Ranking System suggestions:
- First need to determine whether to give equal weighting to both H1 and H4.

If equal weighting:
H1 - U => +1
H1 - D => -1
H4 - U => +1
H4 - D => -1
N (neutral) => 0

If different weighting, where the trend on H1 is consider better indication, then weighting:
H1 - U => +2
H1 - D => -2
H4 - U => +1
H4 - D => -1
N (Neutral) =>...
Yes the point is coded in but i am not sure how to add more of these calculation to the excel sheet. Check PM.
  • #14,295
  • Nov 17, 2010 12:00pm Nov 17, 2010 12:00pm
Quoting Ichi Kid
I think FoxyB is right about awarding an additonal point when both H1 and H4 are in agreement and therefore showing a stronger trend.

Would awarding a further score for Aligment with overall Daily trend also be an idea for those pairs where H1 H4 and Daily are the same direction?
You need to clarify if you want the rating based just on the trends or after there is a signal.

Right now the rating is only when there is a signal and for there to be a signal both time frames need to match. So changing the values for how it currently is will just make larger values because they still only count when it is a signal.

Or do you want a number just based on the trend regardless of signal. So if 4 hour is up and 1 hour is down it will still come up with some number value even though that would not be a signal to enter a trade.
  • #14,296
  • Nov 17, 2010 12:35pm Nov 17, 2010 12:35pm
Quoting 4xAddict
Hi mate,

I am well. Things are going great.

Heading to NY tomorrow for a holiday for 10 days.

Trading full time and working with a couple of guys managing some funds at present, slowly expanding things which is good. Going to start a live trading room for people here to watch me/the guys trade live on these funds and trade along if they like. Seems like the only way I can get enough time to help people, as you say the forum sucks away all you trading time and makes no one any money as a result

You still flat out at Orange?
4xaddict I have to say a big thanks for all your help and to say have the upmost respect to continue to offer everything for free. I cant wait to get involved in the new free trading room, by the way is it 100% ichimoku?

Take care mate
  • #14,297
  • Nov 17, 2010 1:19pm Nov 17, 2010 1:19pm
Quoting Gorron
You need to clarify if you want the rating based just on the trends or after there is a signal.

Right now the rating is only when there is a signal and for there to be a signal both time frames need to match. So changing the values for how it currently is will just make larger values because they still only count when it is a signal.

Or do you want a number just based on the trend regardless of signal. So if 4 hour is up and 1 hour is down it will still come up with some number value even though that would not be a signal to enter a trade....

i love the idea of giving a number based on the direction regardless what signal we have , also the daily direction can be like an extra confirmation
i think we can work it out like this it will be great

cheers
  • #14,298
  • Nov 17, 2010 1:40pm Nov 17, 2010 1:40pm
Quoting ichidakiller
4xaddict I have to say a big thanks for all your help and to say have the upmost respect to continue to offer everything for free. I cant wait to get involved in the new free trading room, by the way is it 100% ichimoku?

Take care mate
Hi mate,

Not at all, happy to help. Vic will agree that when you give you help to people for free you get rewards that money can't buy in return. It also helps you to become a much better trader.

The room won't be 100% ichimoku in fact it will probably be more like 20-25% because it depends on the current market price action, momentum and direction as to which methods we use.

Ichi is GREAT however in flatter or consolidating markets trading it on the 1hr and 4hr with 30min entries (my favourite method) - it doesn't offer many signals so there are other ways to make a buck while we wait for new trends to break out.

It's part of becoming a more rounded trader. Probably the biggest "lightbulb on" moment I have had in the past 7+ years is that the key is not finding a method that the market always follows but rather noticing as fast as possible what type of "market" we are in at the time and then applying an appropriate method to it. This is why, scalping, swing trading, reversal trading, long term support resistance trading, fibonacci, elliot wave, WD Gann, Fractals, ichimoku, gartley analysis etc exist. Sure you can't be an expert at them all however if you have a reliable system that works in a flat market, a consolidating market, a breakout market and a trending market then you have all your bases covered.

It's this that allows you to be a more profitable trader in the longer term.

Cheers.
  • #14,299
  • Nov 17, 2010 1:54pm Nov 17, 2010 1:54pm
Quoting 4xAddict
Hi mate,

Not at all, happy to help. Vic will agree that when you give you help to people for free you get rewards that money can't buy in return. It also helps you to become a much better trader.

The room won't be 100% ichimoku in fact it will probably be more like 20-25% because it depends on the current market price action, momentum and direction as to which methods we use.

Ichi is GREAT however in flatter or consolidating markets trading it on the 1hr and 4hr with 30min entries (my favourite method) - it doesn't offer many signals so...
Wisdom speaks
i miss the good old days
cheeers mate
  • #14,300
  • Nov 17, 2010 4:36pm Nov 17, 2010 4:36pm
Hello Guys

I have made some updates to the sheet and sent it back to gerlad so he can share it with you again , i liked foxybunny's Idea of giving different weights to the TFs , i think it will help us identify the real strength of each currency according to the trend not the signal.
i used the following formula to calculate the currency strength
1hr : U, D, N --- +3, -3, 0
4Hrs : U, D, N --- +1, -1, 0
U=above the kumo
D=below the kumo
N= inside the kumo


please feel free to share ideas.
have a great day
cheeers
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