Ichimoku Technical Sessions 2013

WOW...WOW..!!!! ALLMAG Thanks a great deal for your advice... appreciated

lol your welcome

Is there a free Ichimoku heatmap over multiple time frames ?

Hi everyone,

Here are the charts for my second Ichimoku trade, long AUD/USD. I am using the H4 as my entry timeframe and the Daily to determine dirctional bias. The Weekly and Monthly charts I look at to get a general sense of the bigger picture, which is something I find difficult to define at this stage. In this case I have used a level from the Weekly to set my profit target.

I entered on the breakout above the prior high on the H4, as indicated by the red horizontal line on the chart. I put my initial stop a bit below the Kijun-sen, as shown by the green horizontal line. My stop is about 50 pips away and I'm targeting a return to the top of the recent range that can be seen on the Weekly chart, which is about 150 pips away. Therefore, the Risk to Reward ratio on this trade is about 1:3.

I was not entirely convinced about the directional bias on the Daily chart - price is above the Kumo now but we haven't had a Daily close above the Kumo yet, which I feel would be preferable to confirm a Kumo breakout. Also, the Chikou-span is still below the Kumo at the moment. As I understand it, it would be preferable to see the Chikou-span having broke through the Kumo to confirm the bullish scenario. Is that correct?

However, I had sufficient confidence in a bullish scenario to place the trade. I think the Risk to Reward Ratio was what persuaded me, along with the presence of an obvious target. In terms of Risk to Reward, I try to aim for somewhere in between 1:2 and 1:3 at least. This trade fulfilled my criteria with it being nearer to 1:3, I could make this trade 10 times and even if it was only successful 4 of them I would still make money.

If you have any thoughts about this trade, please feel free to comment... In particular I would be interested to know if anyone has any reasons why they think this would or would not be a solid Ichimoku trade. Also, please does anyone have any experience trading breakouts above a prior high or below a prior low? Is this strategy proven to succeed or has anyone found a better entry trigger?

Please bear with me. I am reading though this whole thread gradually. I am a slow reader though and it's taking some time as I'm exploring the links and resources mentioned in previous posts at the same time as well.

All the best and may the pips be with you,
Ethlao


H4:


Daily:


Weekly:

cool thread. thanks all for advancing my newly found trading style......ichimoku forever.

Ethlao..nice analysis. Looks good to me....see what others say..Thanks for your input.

Yippeeeeeee....!!!!!!

Thanks, Steve D! I just noticed that the future-cloud on the Daily was bearish when I entered Long off the H4..Does *everything* about the upper-timeframe have to agree with eachother for us to look for an entry on the lower-timeframe in that direction?..I'm not sure of the Ichimoku rules exactly..I think the Kumo breakout, if it closes like that, means that the chart is at least showing *some* signs of bullishness though.. Maybe that could be considered good enough to justify a bullish bias if you have other strong reasons for entering the trade?..What do you guys think?

did you profit or something ?

You don't have to trade in the direction of the daily.. you can still profit from a lower TF in a completely oposite direction, because the markets make lots of corrections during a trend..


if you don't understand the rules of the system, just go look at the wiki.

hope you guys got in on that AUD trade earlier

Food for thought


safe entry around 93.211 area. TP around the 94 area

Hi guys..clear chart..A+ setup...well done..

Perfect ! love it

your AUDCHF also great...
but for me with 1h TF maybe I will put 50 pip as my take profit level...even less than that mostly...

good job...

lol. bigger time frame.. more profit

Welcome ! thanks for the support, very much appreciated

nice little bear trap.. watch what happens. notice the flat future kumo.


the bears are all gonna jump in, trying to push it lower and get stuck holding their positions.. then it's gonna flip and we should see a huge 200+ pip rally

Hy could you please explain what is the buy-signal by this position in AUD/CHF?