Ichimoku Kinko Hyo trading system...!

[DanPickUp]

Hi

Is it maybe also a question of:

It is not so important what individual settings we use. We have to understand the once we use and believe in them.

It doe's not matter what settings we use. If we always use the same in our trading, we will understand them and if we always change them, we never are sure if we understand them.

As there is no perfect setting, accept some differences in each one of them and mix it up with other tools.

Tc

DanPickUp

 

[4xpipcounter]

Dan I agree with you 100%. I guess most people know my biases when it comes to ichimoku, but in trying to be objective, I tried to keep my personal biases out in responding.

Hi

Is it maybe also a question of:

It is not so important what individual settings we use. We have to understand the once we use and believe in them.

It doe's not matter what settings we use. If we always use the same in our trading, we will understand them and if we always change them, we never are sure if we understand them.

As there is no perfect setting, accept some differences in each one of them and mix it up with other tools.

Tc

DanPickUp

 

[sunny_cool]

Gooosh how can i forget to mention u...


What do you predict from charts...is it uptrend or downtrend or have to wait for break of trendline?


From my view...I will wait for price to break trendline & then take short position... otherwise no position

Hi Sunny. I'd like to jump in and offer my input.

Your middle number (20 and 26) is the chinkou, and the quantity of candles is plotted behind current price action Just in its evaluation, it makes a big difference in your preference of the 2 settings. The 20 is very close to a crossover of the candles, which would signal a long. With the 26, you would be waiting about 6 candles later for the crossover.
The question is not about getting a quicker crossover, but it should be does the 26 give a truer indication and does the 20 give a fake out, or does the 20 give a true indication, which means you get in the trade sooner.

Also, consider the tenken and kijun. They are more stable on the upper chart. They are converging quicker on the lower chart. When they have converged, they form a more formidable S or R (in this case, R). Only price action, once it gets there will answer the question just how dependable the R is in this case.
I got my answer to that, but I prefer to keep my biases out of it, and leave that part of it open to your personal evaluation.

The cloud is also taking on a complete different appearance.

You asked what the difference is. I'll answer it like this. If you covered up the settings and just said one is 5,10,20 and the other is 9,26,52, I would be able to tell you which one is which.

Here's another thing. Delete the candles from your chart, then blow both charts up as big as you can make them. You will notice a huge difference.

 

[4xpipcounter]

Don't take me completely to task on this, because in viewing charts, I look at an consider all TF's. I also do not use the ichimoku (As much as I love it.)

In considering a downtrend, I'm looking at how the tenken and kijun are bearing down pointing south, and the candle breaking under the cloud, so the cloud is going to act as R. The problem is I would also have to assume the TL is going to be broken
There is also strong R between the recent break o the cloud, and the the tenken and kijun price action will have to plow through, and then if it makes it that far, then it will have to break the top of the cloud.
Also, looking at the history on this chart, it has been since mid-March price action has been camped comfortably under the cloud, which would lad me to the possible bullish view:

The recent candle is bullish engulfing, while the TL is acting as a possible springboard to thrust price back north. That being the case, we would have a 1-2-3 formation leading the pair back to around 1100.

One more thing to consider in looking at this chart, only, is the plight of the TL. It has been hit many times. Consider that to be excess weight on the TL, and eventually it is going to have to give way for the break south. The way that does not happen is for there to be a strong break north that would revamp the uptrend, and make for a new trend at a higher level.

All trends eventually give way, so the favored scenario is eventually the TL breaks.

Gooosh how can i forget to mention u...


What do you predict from charts...is it uptrend or downtrend or have to wait for break of trendline?


From my view...I will wait for price to break trendline & then take short position... otherwise no position

 

[CamelToeJoe]

Yep! It all boils down to managing your risk no matter what you use IMO.

However, I do recommend thinking outside the box with different settings.
That doesn't mean trading them and switching your plan every other day.
Backtest/forward test and only implement new settings when you find an advantage
over a previous rule.

Hi
Is it maybe also a question of:
It is not so important what individual settings we use. We have to understand the once we use and believe in them.
It doe's not matter what settings we use. If we always use the same in our trading, we will understand them and if we always change them, we never are sure if we understand them.
As there is no perfect setting, accept some differences in each one of them and mix it up with other tools.
Tc
DanPickUp

 

[sunny_cool]

CTJ & Linkon sir,

I would really appreciate if u analyse this VIP chart.... I want to know how the experts see it....so that i can also consider those points in future..

I like the logic of 5,20,40 settings as we have 5 days in a week to trade & 20 days in month & 40 days for two months...
I am also trying a hand on ur(CTJ) settings of 5,10,25...

I agree with your view & Dan's view...let me get setting for me that suits me

 

[4xpipcounter]

I should be typo king counter, instead. In the first paragraph, I meant to write, "I also do not use the ichimoku (As much as I love it.) 'as a standalone'".

In essence, I gave my view just through the eyes of one TF and using the ichimoku only.

I didn't mean to clog the thread, but I had to correct something that was that far off.

Don't take me completely to task on this, because in viewing charts, I look at an consider all TF's. I also do not use the ichimoku (As much as I love it.)

In considering a downtrend, I'm looking at how the tenken and kijun are bearing down pointing south, and the candle breaking under the cloud, so the cloud is going to act as R. The problem is I would also have to assume the TL is going to be broken
There is also strong R between the recent break o the cloud, and the the tenken and kijun price action will have to plow through, and then if it makes it that far, then it will have to break the top of the cloud.
Also, looking at the history on this chart, it has been since mid-March price action has been camped comfortably under the cloud, which would lad me to the possible bullish view:

The recent candle is bullish engulfing, while the TL is acting as a possible springboard to thrust price back north. That being the case, we would have a 1-2-3 formation leading the pair back to around 1100.

One more thing to consider in looking at this chart, only, is the plight of the TL. It has been hit many times. Consider that to be excess weight on the TL, and eventually it is going to have to give way for the break south. The way that does not happen is for there to be a strong break north that would revamp the uptrend, and make for a new trend at a higher level.

All trends eventually give way, so the favored scenario is eventually the TL breaks.

 

[NTrader42]

Hello

Great thread with some great discussions

Thanks

 

[4xpipcounter]

I agree, and many thanks to Linkon for starting it.

Hello

Great thread with some great discussions

Thanks

 

[CamelToeJoe]

CTJ & Linkon sir,

I would really appreciate if u analyse this VIP chart.... I want to know how the experts see it....so that i can also consider those points in future..

I like the logic of 5,20,40 settings as we have 5 days in a week to trade & 20 days in month & 40 days for two months...
I am also trying a hand on ur(CTJ) settings of 5,10,25...

I agree with your view & Dan's view...let me get setting for me that suits me

I haven't used 5,10,25 for a long time. Like 4xpip I have my own system that is not ichimoku but I used to trade it exclusively. I like the settings of 96,280,560 for a 5 minute chart while referencing the daily 5,20,40.