Ichimoku Trading

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EURUSD Intra-day Ichimoku Best Short Term Forex Trading Strategy 22-Oct-2014

Image: Oanda

TRADE

Date: 22-Oct-2014

Entry: Sell Stop 1.26850

Reason for Trade/Setup:

Ichimoku charting was showing bearish and a short signal. Placed a sell top below recent low at 12685.

Initial Stop: 1.27250

Initial Target: 1.25650

INTERMEDIATE COMMENT

1.2650 may be a good level to exit, but we never know.

RESULT

Outcome: Price action moved slowly downward.

Exit: @ 1.2661 (Time to Sleep)

Profit/Loss: +24 pips

THOUGHTS

NA.

 

[resurrector]

EURUSD Intra-day Ichimoku Best Short Term Forex Trading Strategy 24-Oct-2014

Image: Oanda

TRADE

Date: 24-Oct-2014

Entry: Buy Stop 1.2667

Reason for Trade/Setup:

Price action was trading in range, above and below the cloud prior 2000h. At the time of order, price action was above the kumo cloud. Chikou span had also crossed above the ichimoku cloud. Placed a buy stop above the nearest high, with stop loss below the cloud.

Initial Stop: 1.2645

Initial Target: 1.2735

INTERMEDIATE COMMENT

NA

RESULT

Outcome: Price moved upward but retraced back to entry level.

Exit: @ 1.2667 (Time to Sleep)

Profit/Loss: +0 pip

THOUGHTS

NA.

 

[resurrector]

GBPUSD long term Ichimoku Best Forex Trading Strategy 30-Sep-2014 #03

Image: Oanda

TRADE

Date: 30-Sep-2014

Entry: Sell Market 1.6217

Reason for Trade/Setup:

Tenkan-sen had crossed over kijun-sen, and below the kumo cloud. However, kijun-sen was in the cloud, and chikou span went into the kumo barely after it crossed below. Price action was below and the forward cloud was bearish. Took a position to short when price action near the tenkan-sen.

Initial Stop: 1.6450, Shifted to 1.6200

Initial Target: 1.5528

INTERMEDIATE COMMENT

Price continues to maintain below the ichimoku cloud. Remain cautious the way forward. While the forward cloud remains thick providing the resistance to the price action, the risk remains high looking at the movement of the price action. Stop loss is adjusted to 1.6200.

RESULT

Outcome: Price activity began to trade upwards after hitting a low around 1.5875 level. Stop loss level shifted lower to 1.6100, Was stopped out subsequently.

Exit: @ 1.6100

Profit/Loss: + 117 pips

THOUGHTS

N.A

 

[resurrector]

USDJPY Ichimoku Trading Forex Strategy 03-Nov-2015 #1

TRADE

Entry Date: 03-Nov-2015
Entry: LIMIT BUY @ 121.150
Reason for Trade/Setup:
Price action had been above the ichimoku cloud for quite some time. It went into the cloud for couple of periods, and broke out from the cloud. Placed a buy limit order which was subsequently triggered. All ichimoku signals were relatively bullish with tenkan-sen above kijun-sen and both above the kumo cloud. Chikou span was cutting above the lagging price action.
Initial Stop: 120.00 (Current: 121.80)
Initial Target: 124.60

INTERMEDIATE COMMENT

N.A

RESULT

N.A

THOUGHTS
Looking if it will hit target level.

 

[kuraudotrader]

Using ichimoku system for 1 min charting

We have been using the 4 hour chart for previous post. So can we use 1 min chart for the ichimoku system? The answer is yes. Ichimoku Charting is applicable to all time periods and markets. There is no limits how it can be applied. In today's post, we will talk about using the 1 min chart, and will illustrate how to apply the ichimoku system using the 1 min chart.

Referring to the chart above with the ichimoku system already plotted in GBPJPY 1 min charting, I have made a few color circled onto the chart so that I can explain in ease.

I started trading trading at around 9.00 pm local time, so upon see the price action on GBPJPY above the kumo, tenkan-sen above kijun sen and chikou span above the kumo, I put in a market buy (first red circle) immediately based the best idea ichimoku strategy available. Unfortunately, the price did not really move after the entry, and it went into the kumo. I made the call to close the position (second red circle).

Not devastated, having an overview again, remained bullish, placed a limit order just above the ichimoku cloud, and it was trigger soon after (first blue circle).

Holding on to the position, the price moved upward gradually. The price had been trading above the tenkan sen but began to move lower subsequently. At this point in time, I square off bit of the position size to cover the lossed in the earlier trade (second blue circle). As of that, my stop loss level was below the ichimoku cloud.

A target profit level had been placed. You can see that in the blue mark (third blue circle). Profit for the second trade was 92 pips. A pretty good profit in about an hour time.

So I hope you find the post useful and it helps you in apply ichimoku system to your trading.

 

[kuraudotrader]

Ichimoku Strategy applied to 4hr period
We have been discussing ichimoku strategy for on 1 min period charting. How about 4hr period charting? Can we do the same? The answer is yes. The principles remain the same, to long when above the cloud, to short when below the cloud. Again, that is not to say to immediately go long when above the cloud, or immediately go short when below the cloud.

I have recently taken a position in USDCAD. There is another aspect in which I have chosen the Canadian dollars. It is related to OIL! Crude oil price has been in the news since its fall from its peak in year 2014. Iran is going to add the number of barrels per day for oil production. Saudi Arabia insistent not to cut production number. Global economy remains fragile ahead. All these add pressure to the oil price to be lower.


Trading USDCAD with ichimoku
At the beginning of the year, the price action of USDCAD began to emerge from the cloud. Tenkan-sen and kijun-sen were both above the cloud, and together with the chikou span. The forward cloud reflected a thin bearish one. With the fundamental structure of the oil price mentioned earlier, I decided to go long with USDCAD. A very basic ichimoku strategy, to long when price above the cloud.

It is now about 2 weeks since the position established. Price action has moved upwards in quite a gradual manner. The price action has been above the kijun-sen all the while, and has bounced off when it touched kijun-sen. The cloud forward remains bullish and thick, providing the support required. I have placed a trailing stop with 300++ pips lock in and also a target level at 1.4600. Depending how the price action reveals itself as the time passes by, I may or may not adjust the target price level.

The trend is your friend, follow the trend.

 

[kuraudotrader]

Winning Ichimoku Strategy for 1 min chart.

Commence trading on the second day of the week with a winning ichimoku strategy. To sell when the price is below the cloud. As always said, sell if below the cloud, buy if above the cloud, the basic fundamental for a winning ichimoku strategy.

The chart below reflected how the trade was entered and exited.


How to trade a winning ichimoku strategy
I have marked out 4 areas on the chart to explain the trade I have executed.

It was about 9pm local when I looked at the ichimoku charting. Prior to 9pm, GBPJPY had been trending downwards. And the price action was far away from the cloud low at 1. If to go into short position at 1, with stop loss above the cloud, would have to risk quite a number of pips, meaning have to reduce my sizing to accommodate my dollar risk value, which was not what I wanted.

Waited for about 45 minutes, the price action when into the cloud. This was reflecting uncertainty in the price action. It could go higher or lower (again) when the price was in the cloud.

At point 2, carried out an assessment as the price action was penetrating the cloud high soon. Determined that for an effective long trade, will need the chikou span to go above the cloud high too. But the chikou span was just about to penetrate into the cloud. As such, placed a stop in order to go short in the event price action turned around. Indeed, price action turned around, and was triggered in.

Price did not go down immediately. It traded sideways before trending down. At point 3, tenkan sen and kijun sen were converging. Reduced position by half to take profit. Left the remaining position opened.

At point 4, price action continued to trend upwards. The price action went into the cloud. Decided to close the remaining position.

The above is a simplified winning ichimoku strategy that works on the fundamental principle: short if below the cloud and long if above the cloud.