allisonmagic i was wondering if there is a specific reason that you use Mt4 for the ichi indicator rather then tradestation as i noticed you are fxcm which i am as well, and i have tradestation also. Wondering if there is something I am unaware of with this tradestation platform over mt4, or if its just personal preference
Ichimoku Technical Sessions 2013
Hey guys, Ive had a quick read through this thread and there is some amazing ideas and strategies, thanks to AM for starting this thread and great trades BTW.
I want to add my two pennies worth, Ive been trading ichimoku for about 3 years now and Im always testing new strategies on various small live accounts, but overall I like to keep my charts clean and simple. Im not a huge fan of indicators all over my chart, ichimoku gives me all I need and including my Take profit and Stop Loss..
Ill explain a little more on how I use ichimoku, but first I want to show you some analysis for Monday..
I too look for opportunities on the 4H while taking my profit targets from the Daily, I also take my entries from the smaller Time frames..
EURJPY
So first we have the 4H Chart
We had a weak Tenken Kijun Cross above the cloud as price moved into the cloud, this was the first good sign.
Next we had a breakout then a small retrace back towards the cloud, the current candle has bounced and producing a nice long wick, I will wait to see how this candle finishes, if it stays bearish then I will look to enter a SELL.
However if you notice the CS is either going to bounce within the cloud or break out, if it breaks above I will sit back, if we get a bearish bounce I will see this as further confirmation of the SELL.
Next I will look for a decent TP level so lets move up to the DAILY
The DAILY is showing us a possible break down below the TS, if this happens we could see price pull towards the flat Kijun Sen. (this is very much in line with what we see on the 4H) So I will want to place a TP between the break and the KS.
I see that the recent bounce of the the CS is a perfect TP so I will use this.
Lets have a quick look at the 1H
Again price is waiting to break below the TS and the KS in pointing down
All in all some strong Bearish action, lets see what plays out. I understand that its the weekend and we may miss the move on Monday, but I thought I would give you an idea on how I like to trade, I don't pay much attention to fibs and stuff, I like to set my levels within the ichimoku indicator like flat Kumo tops and bottoms and flat Kijuns etc...
I want to add my two pennies worth, Ive been trading ichimoku for about 3 years now and Im always testing new strategies on various small live accounts, but overall I like to keep my charts clean and simple. Im not a huge fan of indicators all over my chart, ichimoku gives me all I need and including my Take profit and Stop Loss..
Ill explain a little more on how I use ichimoku, but first I want to show you some analysis for Monday..
I too look for opportunities on the 4H while taking my profit targets from the Daily, I also take my entries from the smaller Time frames..
EURJPY
So first we have the 4H Chart
We had a weak Tenken Kijun Cross above the cloud as price moved into the cloud, this was the first good sign.
Next we had a breakout then a small retrace back towards the cloud, the current candle has bounced and producing a nice long wick, I will wait to see how this candle finishes, if it stays bearish then I will look to enter a SELL.
However if you notice the CS is either going to bounce within the cloud or break out, if it breaks above I will sit back, if we get a bearish bounce I will see this as further confirmation of the SELL.
Next I will look for a decent TP level so lets move up to the DAILY
The DAILY is showing us a possible break down below the TS, if this happens we could see price pull towards the flat Kijun Sen. (this is very much in line with what we see on the 4H) So I will want to place a TP between the break and the KS.
I see that the recent bounce of the the CS is a perfect TP so I will use this.
Lets have a quick look at the 1H
Again price is waiting to break below the TS and the KS in pointing down
All in all some strong Bearish action, lets see what plays out. I understand that its the weekend and we may miss the move on Monday, but I thought I would give you an idea on how I like to trade, I don't pay much attention to fibs and stuff, I like to set my levels within the ichimoku indicator like flat Kumo tops and bottoms and flat Kijuns etc...
- #715
- Apr 28, 2013 3:59pm Apr 28, 2013 3:59pm
- | Commercial User | Joined Jul 2012 | 2,049 Posts
{quote} I thought this thread was going well, don't stop posting Allisonmagic your analysis is great I think a lot of people appreciate your input and the lessons you have been giving..
alright i'll keep posting setup's . thanks for the kind words
ready to make some money ? here ya go. this one's for free i plotted the fib from the high down to the candle that broke the cloud. seems better that way , since we are judging support {image}
My EURJPY trade started well, but then retraced to the 4H bottom Kumo (as expected)
Just bouncing around my entry now
