Ichimoku Trading

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Another Winning Ichimoku Forex Trading Strategy.

In case you missed the forex blog on 29 Jul 2014, a quick recap now.

Short position has been established in the AUDUSD. A chosen position while the price action was in the cloud.

So what's next?

Tenkan-sen and kijun-sen are diverging away, signs of volatility, which also means we could see price consolidation or ranging in the next few periods. Chikou span is below the ichimoku cloud, and the forward cloud is bearish and turning south. In general, from Ichimoku charting, we can see bearish mood.

Price action is far away from the Ichimoku cloud low. We may see price activity moving north attempting to break the think cloud. Again, depends how price unfolds.

Yes there maybe some pull backs. However I see more of adding shorts and turning bull.

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Welcome back to another winning trading system using ichimoku charting. It is one of the best forex trading system.

Let's take a look at the ichimoku charting on the EURUSD. Price action has been ranging for the past few hours, trading up and down the ichimoku cloud. There seem to be some direction forming at 1600h, but price action turned up north again.

So that's what had happened earlier as I turned on the screen. Tenkan-sen cross over kijun-sen and both lines cut above the ichimoku cloud. More important, chikou span cut above the ichimoku cloud too! We are also seeing the forward cloud turning thin and positive, becoming a bullish cloud.

That said, price action traded above the cloud, and retracing back towards kijun-sen.

A good trade set up for forex trader, and so a long position was established, with stop loss below the cloud level.

2030h must be exciting for many. It is the same for me. However, as a forex trader, one got to be discipline. It is not my style to do anything in such chaos situation. Stop loss already in, if its stop out, its just another losing trade for forex trading.

What is more important is to follow the ichimoku forex trading strategy. I did have target profit area at above 50s, it did not hit unfortunately.

And it is getting late at this part of the world, and I decided to exit the trade, with good profit.

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Another winning ichimoku trading strategies.

Before coming to that, I have to say I missed out the trade for EURUSD, damm it. Was busy with work that I forgotten to look at the trade set available.

Nevertheless, coming back to the forex trade on the NZDUSD. Looking at the ichimoku charting then, tenkan-sen already crossed over kijun-sen, and kijun-sen crossed below the ichimoku cloud low. Chikou span had also crossed below the ichimoku cloud low. Made a market short then, closed out the position as time getting late.

One of the best forex strategies for trading: Ichimoku.

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Best Ichimoku Trading Strategy!

This short position was established end of last month, while the price action was still in the cloud. Price action has now moved below the cloud and sharply down in the recent move.

Tenkan-sen almost crossed above the kijun-sen but failed so. Chikou span remains below the ichimoku cloud and the forward cloud remains bearish, providing strong resistance to the uptrend of the price action if any.

Remain bearish, and await opportunity to go short if any.

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So today I am going to share a trade I did yesterday.

Looking at the yellow oval region, it is not difficult to see the volatility of forex trading.

I have place a stop-in short below the recent low as everything sit in nicely, with the exception of the chikou span, where were in the middle of the cloud.

Volatile price action soon after, you could see the short position being stopped out as the price action crossed above the ichimoku cloud.

What was more devastating, the price action made a reversal, crossed below the ichimoku cloud low.

The most challenging part of this trade was the psychology then. Not easy to placed that short position in again as you could see the area mark blue circle.

The important thing then is to look at the ichimoku-chart AGAIN. Chikou span is going to cross the ichimoku cloud lo. As I always said, the chikou span crossed below the ichimoku cloud add confidence to the trade. The challenge is always on the psychology.

I did pull my trigger, added a short position.

As I waited out, it was a winning trade.

I only managed to recover 75% of the loss from the earlier trade.

Cheers

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GBPUSD Ichimoku Forex Trading Strategies 23 Jul 2014 #4


This is a follow up forex blog on the GBPUSD position established on 23 Jul 2014.

Position had been established at where the yellow circle being marked.

Partial positions had been square off at where the red circles being marked.

And the position had been closed out earlier today.

Will look for new opportunity.

Image: Oanda

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[doggyfx]

What is the indicator you use that provides painted zones? Is it custom build version of Ichimoku? Visially it looks more clear und understandable... than plain lines.. Tried to set up default version of Ichimoku template in my Hotforex terminal but failed..

 

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What is the indicator you use that provides painted zones? Is it custom build version of Ichimoku? Visially it looks more clear und understandable... than plain lines.. Tried to set up default version of Ichimoku template in my Hotforex terminal but failed..

Dear doggyfx,

It is built in Oanda trading platform. I am not so sure about Hotforex.

Basically, the region between Senkou span A & B is the cloud or kumo region.

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AUDUSD Ichimoku Forex Trading Strategies 29 Jul 2014 #04

Image: Oanda

This is a follow up on the AUSUSD position established on 29 Jul 2014.

Price action has been trading below the ichimoku cloud for the past weeks.

All ichimoku charting indicators reveal bearish, with the exception of tenkan-sen showing the first sign of bullishness by trading above the kijun-sen. Price action has also traded above the kijun-sen.

Looking ahead, the kumo cloud is getting thin, though the current cloud remains thick which could provide the resistance to the price action from turning bull. Also note that Chikou span is above to cut above the tenkan-sen and kijun sen. This could be the very first sign to indicate the start of a bullish trend.

I have shifted my stop loss level lower, and have closed some position in the short.

Again, this is my view. Traders who favor short may find this is good opportunity to add short with stop loss above the ichimoku cloud high.

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EURUSD Intra-day Ichimoku Best Forex Trading Strategy 18-Aug-2014

Image: Oanda



Another Ichimoku Forex Trade for the day.

Let us do a quick review for the trades did earlier.

Placed a stop in trade earlier of the day at around 1500h. first yellow circle) A square box denoted the stop in order, a down triangle denoted the trade had been executed.

This trade was made with tenkan-sen crossing below kijun-sen, and both below the ichimoku cloud. More important, looked towards the right, chikou span crossed below the ichimoku cloud. As always mentioned in my other posts, chikou span crossing above or below the cloud is a very strong signal, which cannot be ignored.

After few hours, I placed another stop in order at the second yellow circle. During that moment, price action was trading upwards to the ichimoku cloud. However, none of the ichimoku charting indicators show signs of bullishness. Tenkan-sen had not yet crossed above kijun sen, and chikou span had not yet crossed over the cloud high. The stop in level was below tenkan-sen. And I was stopped in.

Moving forward, we did see tenkan-sen crossed over the kijun-sen, but its not going to be main concerned. Stop loss level then was above the Ichimoku cloud high.

Price action needed time, and patience was required.

Everyone likes a risk/reward ratio 3:1, 3 units of reward to 1 unit of risk.That's what I placed for my profit limit level. However, we need to understand what market wants to offer you.

I place a buy limit to close half of the positions at 13360. Subsequently I closed all, as its getting late at this part of the world.

Ichimoku Charting, one of the best trading technique for Forex.

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