Trading with range bars ichimoku cloud & awesome oscillator

Yes... that is the problem I guess... even with the power meter that actually I don't know how to use it properly, I look the wrong pairs....

Hey Korndawg,

1) news, first thing I look at is the calendar, because of when I trade mostly concerned about US news. If I'm in a trade that might be affected I tighten my stops or get out, usually just tighten.
2)look at power indicator to see what going on, check charts on any strong and/or weak currencies.
3)check the 20+ other FX charts I have up at start of day and check the 10 futures charts I trade.
4)I keep in mind any strong longer term trends but am mainly concerned with the last 4 hours.
5)draw in tls, s/r areas and timelines on possible trades.
6)watch pa and wait for trade confirmations.

I don't look at daily charts(except on weekends). I don't use Fibs.(don't like them) but plenty of people find them useful. Think both of these are useful for longer term trading but not for day trading, but that just my opinion. I just try to keep things as simple as possible.


My checklist for a trade is:

1) x-over of AO
2) price on right side of cloud.
3)is initial tp big enough to make trade worthwhile.
4)pa confirmation.

Hey Syl,

An entry like that is something you'll see from me after I've closed some profitable trades, I can afford to be more aggressive.(plus I use tight stops).
The other reason I'm willing to be more aggressive is that I'm trading with the trend not against.
Also had a bearish dvrg. with the trend which can mean a nice continuation move.

I have not traded much today, We are having one of our bigger spring snow storms. About 16 inches so far and maybe another 8-12 inches by Midnight.

Can not believe I missed the CAD/JPY trade as I have that chart up on my screen all the time. That was the best mover so far today. Good thing there will always be another trade coming.

Kthrapp, you are in WY right? Guess that me bitching that todays high is 70 won't get me any sympathy from you.

Just don't post any pics of you and the family hanging out at the beach. They are saying no unnecessary travel even in town as the snow is to deep and coming down fast enough that the plows can not keep up. I have all wheel drive but after 12inches or so of snow we get high centered. So it is a chillin day. I'll shovel tomorrow.

Kthrapp, you being too nice to me a f u could have been deserved. Stay warm.

Hey rocky
someone asked u in some pages ago that explain & describe the charts or trades you dont take ! and u said then keep remind me... so i just did on behalf of him
while u kindly will explain that...plz make a comment about why this one was not a good setup

thanx

Gw, the pair made a pretyy strong move up. The first bearish dvrg. Pulled back around 15 pips, the 2nd dvrg. That you marked pulled back a little more maybe20+ pips but most of it was above and inside the cloud, the thrid dvrg. You could make a little money on, the 4 dvrg. With the trend makes nice money.
Basically dvrgs. Against a strong move will usually take a while to hit for any decent move, since good pieces of the pullbacks will be above and in the cloud.
If you want to trade dvrgs. Against the trend, strong trends in particular you are better off trading w/o the cloud. Heres an example ditching the cloud.

Heres an example of a chart i'd toss at start of my day could call it waiting to be whipsawed. THIS CHART IS TRADEABLE BUT NOT THE KIND OF TRADING WE ARE DOING HERE WITH TIGHT STOPS, ON A TIME BASED CHART SAY 5 OR 15 MIN WITH LARGER STOPS

My only trade today for 20pips. Because of our spring storm my internet has had a few issues today. The reason I exited at that level was 1)TP 1.3000 2) I usually do not trade this late in the day as momentum fades. I did not think it could go much further so when it hit or got close to TP I got out.

Nice trade, may the chinook be with you.

thank for complete explanations RP
i think what im trying to figure out is how can we recognize when its valid or not
to me the last dvrgns pretty looks like the fist two... but despite them it worked well
is there a way to understand that ?

Saturday, Warm winds reported to show up Saturday!!

Gw in this case pair ran out of steam around lunch time est, very often around 11:30 till 2 you will see pullback from the days trend.
Thats actually a good time to do some scalping w/o much risk.

and what kind of setup you would avoid based on this method ?

Gw be a little more specific i'm not sure what you are asking.

i assume u were answering the qs about: "what kind of charts we should avoid" in post #250
if it was so... that chart was not based on the system we practicing here as you mentioned
could u explain more about setups u would ignore base on this system too?

the chart in post# 250 is the same template as the system we are trading here.

the chart in post# 251 is the same except the cloud is deleted.

RP,

Where do you generally exit from these both buy and sell trades?