Ichimoku Trade Room

EUR/USD Daily

Price broke out nicely last week above the 1.4500 which was offering tough resistance.
I'm worried about the shooting star which was formed on Thursday with Fridays price closing below Thursdays close.
Areas I will be looking for a pull back to are 1.4500/1.4250/1.4223 respectively.
I'm not too keen to just jump in and short on the sign of a reversal due to the extremely bullish nature this pair has been in since 10/01.
The future cloud is still very bullish, so I think for for it may just be a time to sit it out a little and jump back in long on support.

EUR/USD Daily



EUR/USD H4

The break through 1.4600 becomes looks more as a reversal pattern with price spiking through and being pushed straight back down through 1.6400.
This is more than likely due to stop loss hunting.
If price drops below the solid 1.4500 area we could be in for a quick 100 pip drop down to 1.4400.
This level should see some solid bids due to psychological round number/Kijun Sen/50% Fib.
At 1.4337 the top of the cloud is flat again offering support.
The future cloud is bullish, which confirms I will try and buy on weakness if it remains so. I'm starting to wonder how far we can actually go before a nice drop.

EUR/USD H4



GBP/USD Daily

Again GBP/USD had a stellar week due to the USDX continuing to weaken to fresh lows which hasn't forced the GBP to outperform by itself.
Sellers/profit takers clearly came into the market at 1.6600 and defended their highs through Friday.
I think one of the important points to note is that price closed above 1.6500 on Friday, which the bulls can feel generally positive about.
On the Daily, I would like to see price pull back to at least 1.6400 and possibly as low as 1.6300 before looking for a buy again.

GBP/USD Daily



GBP/USD H4

On the H4 there is definite buying at the 1.6500 level but we will have to wait until next week to see if they can hold this support.
Price bounced at around the monthly pivot R2 as predicted last week (shame I got out a little early),
with R1 standing at 1.6300 which would fit in nicely with my Daily above.
The future cloud remains bullish so will be interesting how 1.6500 holds.
Again the Kijun Sen at 1.6381 should have bids as is the 50% Fib also. So I wouldn't mind taking a small long here depending on price action and volume.

GBP/USD H4



I will look at USD/JPY and USD/CHF later as I don't have time now and also have a quick look at USDX.

goodmorning and happy easter to all!seems the second chat room crashed!

i am trying to find something more decent and free

Ok guys,looks like this will be our permanent room(i hope so...)

here is the link

http://tinychat.com/swingfiddle

password is "ichi"

let me know if this works ok
see you there

Hi Swingfiddle
I tried logging in but I had trouble doing so what is the username?

Yeah password request and then you change your username in the bottom right

Hi George

Are the two sets of data the entry and exit you are looking for or are they a "box" region to go long or short? What is your twitter name?

Thanks

Andy

Thanks, I have loaded that, there is a lot of information there, how are you applying it?

Hi Andy,

They're just the "box" region (support/resistance area) I expect PA to break for possible long or short, and if supported by the CSM, I will look at my chart for confirmation and entry. But we need to identify pairs moving with the trend or counter trend, to determine profit objective.

Twitter name is @919gilead

The market is quiet due to the holiday in Europe and will wait for the U.S. news release to see how the market reacts.

Cheers, and God bless

George

everything is pointing bearish, apart from future Kumo. what does everyone recon?

i guess flat bottom kumo H1 holds for the moment.no trade without brake to the downside.

I agree, also very thin cloud makes me nervous on this one. Looks quite nice on daily and weekly though

looks like gdbusd is going to brake out(probably not today)..it is compressed between the trendlines,1.6461 level did a good job so far

Trade Focus Update
USDCHF70+ pip past 8844
AUDUSDjust 9 pip past 0692 but pair was unable to reach PH stalling @ 0759 for possible short @ 0725 for 40+ pips
NZDUSDsame thing here - just 16 pip past 7990 (good for counter trend trade for me) but pair was unable to take out PH stalling @ 8029 for possible short @ 8003 for 25+ pips
EURCHFsame thing here - just 19 pip past 2839 but pair was unable to take out PH stalling @ 2912 for possible short @ 2882 for 40+ pips
EURCADCurrent 20+ pip past 3900
EURAUDFound support exactly on 3522 b4 bouncing & reversing for a better entry. PA now @ 3610
EURNZDNow 43 pips past 8191
CADJPY20+ pips past 8620 but new entry could have be possible @ 8595 after failure to take out 8564 as pair broke out of the cloud
AUDJPYBoth sides triggered for 17+ pips
NZDJPYNo viable entry
GBPCHF90+ pip past 4602
GBPAUDCounter trend trade of 20 pips past 5394
GBPNZDNo viable entry
CADCHF16+ pip past 9232
AUDCADNo viable entry(s) though PA crossed swing high/low by few pips
NZDCADNo viable entry

We have mixed results due to the holiday but still have some good trades.

Additional charts for

CADJPY
AUDJPY
EURNZD
EURCHF

hello 919gilead!
thanks for your posts

one thing i dont t understand...do you wait for a close H1 outside the box?or do you enter at the time of the breakeout?

I don't use the regular chart but the range bar chart, and yes I enter after the candle BO and close outside the "box" region but only, if confirmed by the CSM and other indicators are also in agreement. For my entry(s), three TFs must be moving in the direction from the M15 - D1 => trend trading M15 - H4; and counter trend => M15 - H1.

My current trade focus

Buy Sell
EURJPY119.43118.62
GBPJPY135.16134.53
CADJPY8600 8536
EURGBP8839 8806
EURCHF2853 2815
EURAUD3615 3555
EURNZD8242 8190


See you folks during the London session in the chat room

What is the values of your stochastics. they look like an indicator I use to trade

Three stochastic lines - SMA 10 2 2; 20 2 2 & 42 2 2

Don't tell me u're from OU!!! :-)

919 who is OU or PM me. I'll tell you where I have used it before. Similar settings but I'll tell you the full story