Ichimoku Kinko Hyo

[ag_fx]

Hi,
Yeah sure Mr Ankit i am so naive to say things without knowing.
I should have known this,by the way sir,i remember you from Mr Pipshowers thread don't you advocate price action to indicators Sir.
I still am not convinced with Ichimoku,let's see what happens only if Mr Rishi will throw some light.:thumb:
Regards
Tavnaz

I advocate any method that can make consistent money with proper money management rules. At first glance, ichi does appear to be an indicator centric system, but once you start getting hang of it, it really isnt one. Its like saying what car do you like? Black or white or red? Honda or Porsche or Merc or Ferrari? You ask this to 100 people and you will get 100 answers. Same is with trading, there is no ONLY ONE method to trade and make money.

Lastly,if you want to learn, go to the links posted by Rishi. There is plethora of information on web over ichimoku.

Good Luck.

 

[ag_fx]

hi ritwij

to my limited understanding of ichi, i believe it works best with yen as lot of japanese use ichi especially in asian sessions. traders have told me that GBP is bit too volatile but i believe with proper MM, it might be a payoff with GBPJPY

wish you all the best in your trading


regards
rishi

It will be childish to say so. Infact, the very fact that Ichimoku has been a little popular in last decade or so is because of a lot of western world traders got interested in it. All the current public practioners of Ichimoku are primarily western.

Having said so, in my opinion any worthy trading system should work on all asset classes it is designed for. The pairs like GBPUSD,EURUSD are some of the most traded pairs around and if your system fails on this, then I wouldnt bet on your system. Ichimoku is a wonderful system and if you are practicing it on lower time frames, all pairs with low spreads should be your hunting ground.

Best of Luck.

 

[Rkji]

It will be childish to say so. Infact, the very fact that Ichimoku has been a little popular in last decade or so is because of a lot of western world traders got interested in it. All the current public practioners of Ichimoku are primarily western.

Having said so, in my opinion any worthy trading system should work on all asset classes it is designed for. The pairs like GBPUSD,EURUSD are some of the most traded pairs around and if your system fails on this, then I wouldnt bet on your system. Ichimoku is a wonderful system and if you are practicing it on lower time frames, all pairs with low spreads should be your hunting ground.

Best of Luck.

well, like i said, i have a limited understanding of ichi but due to my discussion with western world traders...professional traders like hedge fund managers told me that top people do not need ichi or other trading strategies as they MOSTLY work with naked charts or a moving average or RSI / stochastic, divergence or trendlines as they are very experienced with price action.

once the london & US sessions are over, why are markets slow or less volatile ? does the moving averages or rsi/ stoch stop working for japanese people that the markets become less volatile ? japanese follow ichimoku mostly and it is mostly traded on DAILY TIMEFRAMES !!!

whatever wothy strategies you maybe working upon WILL NOT work with all pairs on all timeframes & WILL NOT work for long unless continuous implimentation is done. this is the single most reason why people head for 5 major pairs and trade them in london open/ US open sessions along with strategies which are popular with top banks & institutions as retail traders STILL form a very small fish in this ocean.

once you are very experienced with price action, you do not even need ichimoku. well, on the contrary in japan ichimoku has & will be a CONSISTENTLY FOLLOWED system in their sessions. you may want to read a little about ichimoku ' s history.

if you talk about other traders, in my opinion usually traders avoid ichi whether indian, russian, african or italian because it seems complex to them while it is not.. after thorough understanding & fair practice.
when they can' t even stick to simple set of moving averages, no need to think further that they won' t stick with ichi for a long time either.

i commented ' ichi works well with yen in asian sessions as a belief not only by me but a Japanese trader who happen to be an acquaintance & it made sense because when a lot of people use the SAME METHOD for making their buy & sell decisions CONSISTENTLY throughout the YEAR...price respects those levels. this is why Fibonacci numbers are important because EVERYONE is seeing them.

it' s always enriching reading your posts though & you might very well be right in your standing :thumb:


regards
rishi

 

[Rkji]

AUDJPY PLAY M5

 

[Rkji]

EXIT OF AUDJPY PLAY

* low winning probability trade, as no proper crossover observed, tenken sen just touched kijun sen & moved above
* initial stoploss of 75.00 (below cloud) was moved to 75.18(below kijun sen)

* dmi + was above ADX 22 line & this time i had observed it
* thick bull kumo on extreme right is no guarantee that it will be a home run !!

* though on 1 Hr tf, candle had formed above up kumo, i had not checked 4 Hr tf on which price was below down kumo & was struggling to breakout above kijun sen so the charts were not in sync !!
* trade resulted in a loss of 20 pips, dear sum to pay for low probability trade !!!

 

[Rkji]

WAITING FOR A LONG OPPERTUNITY IN GBPUSD ABOVE 1.5600

* bull run started from 090610 has caught my fancy & price currently testing support at senkou span

* dmi + shooting up fast & should go above ADX line of 22 soon

* chinkou span testing candle

* ADX line currently falling

 

[Rkji]

GBPUSD ON H4

* price testing resistance at 1.5600
* + dmi is 28
* TS & KS crossover about to happen though it' s a weak one
* CS trying to go above price
* kijun providing support

 

[Rkji]

GBUSD ON H1

* bull cloud formation on right
* price above kijun sen
* + dmi 28
* extreme left cloud resistance is also 1.5600

 

[Rkji]

GBPUSD ON M30

* price trying to go below kijun sen
* CS testing candle
* +dmi 20 - dmi 24

 

[Rkji]

GBPUSD ON M15

* 1.5600 resistance for recent swing high
* -dmi dying at - 22
* CS testing weak candle