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Ichimoku forever

  • #16,541
  • Edited 1:39pm Jan 15, 2012 6:34am | Edited 1:39pm
hello,nice ideas as always Fosking!
@Knuckheld -i like the entry point you are pointing

i got long in h4 aud/usd after the downgrade of France.this pinbar gives a good rr trade i guess.if you zoom to m15 you will again see a pinbar-people was selling on panic (hitting stops of bulls)or were afraid of staying out of the "big downmove" so they got in short in poor positions only for big players to absorb their selling and buy in good prices
i ll add to the position if price retrace to the 50% of the h4 pinbar
have a nice week ahead all!
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Never again will fade the trend
  • #16,542
  • Jan 15, 2012 8:57am Jan 15, 2012 8:57am
last week i was trading purely on PA and news,i find indicators useless in conditions like this...so many rumors and news.ichi gave me at least 2 perfect signals for long on cable,but they were against the fundamentals.the downgrade was coming,the dollar is geting stronger and stronger...i just couldn't get long as ichi told me.these are strange market conditions,many traders think that,market is not as it use to be before 2008.
so what you guys think,what drives the market today? technicals or fundament
  • #16,543
  • Jan 15, 2012 9:20am Jan 15, 2012 9:20am
Quoting mero
last week i was trading purely on PA and news,i find indicators useless in conditions like this...so many rumors and news.ichi gave me at least 2 perfect signals for long on cable,but they were against the fundamentals.the downgrade was coming,the dollar is geting stronger and stronger...i just couldn't get long as ichi told me.these are strange market conditions,many traders think that,market is not as it use to be before 2008.
so what you guys think,what drives the market today? technicals or fundament
Interesting Q? Mero...couldn't resist to give my thoughts. I think the trend is with the fundamentals right now , id say that is driving the markets if ur going to look at the bigger picture. Technically , you have to have a system that gives you signals in the direction of where the fundamentals are driving price to.

e.g friday the 13th jan 2012, I caught good technical signals with a system I use after every piece of news that came out. So it is always good to pay attention and see if both fundmntls & techs (your system) offer you a high probability outcome to your trades. But overall picture is in favour of fundamentals to drive the markets for long periods to come.
  • #16,544
  • Jan 15, 2012 10:24am Jan 15, 2012 10:24am
Quoting mero
last week i was trading purely on PA and news,i find indicators useless in conditions like this...so many rumors and news.ichi gave me at least 2 perfect signals for long on cable,but they were against the fundamentals.the downgrade was coming,the dollar is getting stronger and stronger...i just couldn't get long as ichi told me.these are strange market conditions,many traders think that,market is not as it use to be before 2008.
so what you guys think,what drives the market today? technicals or fundamentals
I try not to get too bogged down with fundamentals. The reason being is that if there was a flight to safety and demand for the USD, I can see this on my chart without having to guess what I think might happen. Also the lower the timeframe used, the more I would be looking at purely technical setups.

I like Ichimoku as it allows me to see in which direction I need to be trading and how aggressively (stop, position size etc).

As you say, sometimes the setups like your long Cable just don't materialize. It's just one of those things that we have to swallow and cut it (stop should be in place anyway). I suppose we just have to remember that even the best traders in the world have to take losses too

On the fact that the market is different from before 2008 and now, sure. There has been a financial crisis since then , but the market is still moving and chances to make money are there.
  • #16,545
  • Jan 15, 2012 10:39am Jan 15, 2012 10:39am
Quoting fosking
I try not to get too bogged down with fundamentals. The reason being is that if there was a flight to safety and demand for the USD, I can see this on my chart without having to guess what I think might happen. Also the lower the timeframe used, the more I would be looking at purely technical setups.

I like Ichimoku as it allows me to see in which direction I need to be trading and how aggressively (stop, position size etc).

As you say, sometimes the setups like your long Cable just don't materialize. It's just one of those things that...
Couldn't have said it better myself.
  • #16,546
  • Jan 16, 2012 2:14am Jan 16, 2012 2:14am
pending buy at 50% of pinbar triggerd during night.
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Never again will fade the trend
  • #16,547
  • Jan 16, 2012 10:02am Jan 16, 2012 10:02am
Not sure if this is chasing a trade that should have been entered a day ago on the 4h when price broke out of the Kumo and closed bellow the Kijun Sen ... ?
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  • #16,548
  • Jan 16, 2012 10:11am Jan 16, 2012 10:11am
Quoting adam777
Not sure if this is chasing a trade that should have been entered a day ago on the 4h when price broke out of the Kumo and closed bellow the Kijun Sen ... ?

Well, today's a U.S. hoilday, markets will not move too much. Did you check your s/r? One thing I noticed on the EU is the Chikou is close to price, this signals some consolidation. But, definitely check you s/r.
  • #16,549
  • Jan 16, 2012 1:26pm Jan 16, 2012 1:26pm
almost hitting target in my nzdchf trade..
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Never again will fade the trend
  • #16,550
  • Jan 16, 2012 1:38pm Jan 16, 2012 1:38pm
Quoting swingfiddle
almost hitting target in my nzdchf trade..
Nice trade!
  • #16,551
  • Jan 16, 2012 1:42pm Jan 16, 2012 1:42pm
Quoting fosking
Nice trade!
lol thanks fosking,missed me tp for one pip-but i am stubborn i ll let it hit it!
Never again will fade the trend
  • #16,552
  • Jan 16, 2012 1:52pm Jan 16, 2012 1:52pm
Quoting swingfiddle
lol thanks fosking,missed me tp for one pip-but i am stubborn i ll let it hit it!

How many do you trade?
  • #16,553
  • Jan 16, 2012 1:56pm Jan 16, 2012 1:56pm
Quoting knucklehead
How many do you trade?
hi knucklehead,you mean how many pairs?
Never again will fade the trend
  • #16,554
  • Jan 16, 2012 2:02pm Jan 16, 2012 2:02pm
Quoting swingfiddle
hi knucklehead,you mean how many pairs?

Lol. Yea, missed the important part.
  • #16,555
  • Jan 16, 2012 2:08pm Jan 16, 2012 2:08pm
Quoting knucklehead
Lol. Yea, missed the important part.
for intraday only majors combined with usd index-but in h4 and daily,i am looking everything out there for opportunities...
Never again will fade the trend
  • #16,556
  • Jan 16, 2012 4:45pm Jan 16, 2012 4:45pm
Bullish cross over the Kijun-sen above the cloud.
Chinkou Span is showing the ranging market but the pressure is on the descending trend line with a thick cloud beneath.

FXCM USDOLLAR Daily
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  • #16,557
  • Jan 16, 2012 5:40pm Jan 16, 2012 5:40pm
that is what i get for usd index,what fxcm index represents?http://screencast.com/t/gmtbDHJbNmHt
Never again will fade the trend
  • #16,558
  • Jan 16, 2012 5:57pm Jan 16, 2012 5:57pm
Quoting swingfiddle
what fxcm index represents?
The Dow Jones FXCM Dollar Index℠ reflects the change in value of the U.S dollar measured against a basket of the most liquid currencies in the world. The index represents a real-world, transparent approach to measuring the most economically significant currencies in the world in real-time. The index is built by equal-weighting the following currency pairs: EUR/USD, GBP/USD, USD/JPY and AUD/USD. Together, this basket typically accounts for 80% of world-wide currency spot market activity and reflects a diverse economic and geopolitical make-up. The straightforward and transparent index composition aims to allow easy replication as the basis of index-linked products.
The Dow Jones FXCM Dollar Index℠ is offered collaboratively by Dow Jones Indexes, a premier global index provider, and FXCM, an acknowledged leader in the online foreign exchange brokerage space. The index leverages the two firms’ experience and expertise, making it a useful tool in tracking this 24/7 market.

http://www.djindexes.com/usdollar/
  • #16,559
  • Jan 16, 2012 6:17pm Jan 16, 2012 6:17pm
Quoting knucklehead
Well, today's a U.S. hoilday, markets will not move too much. Did you check your s/r? One thing I noticed on the EU is the Chikou is close to price, this signals some consolidation. But, definitely check you s/r.
Thanks. I'll start practicing with Forextester2
WARNING: Don't follow me as I'm just learning
  • #16,560
  • Jan 16, 2012 8:54pm Jan 16, 2012 8:54pm
Quoting adam777
Thanks. I'll start practicing with Forextester2

Here is one I entered on. Used the H1 to get what I wanted and entered on the m15. Moved to BE at this point. If it makes past the ceiling, I won't be surprised, but it may stall there.
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