Ichimoku Kinko Hyo
- Thread starter Rkji
- Start date
Hello Rishi,
I second Edward's Opinion.
Let me tell you I have read so much of material on Ichi to get its basics and then tried it but failed miserably .Then I got advice!! that its only sucessfull on longer TF's as mentioned by you in the first page.Further I have read a whole thread in another forum and wondered how one could pocket so many dollars using such lower TF's.Then yourself too produced so many great results here. Wow!!
Keep it going for the sake of "Ichi Lovers " like me.
I second Edward's Opinion.
Let me tell you I have read so much of material on Ichi to get its basics and then tried it but failed miserably .Then I got advice!! that its only sucessfull on longer TF's as mentioned by you in the first page.Further I have read a whole thread in another forum and wondered how one could pocket so many dollars using such lower TF's.Then yourself too produced so many great results here. Wow!!
Keep it going for the sake of "Ichi Lovers " like me.
@Jagan.. I already came across the link.. but then as i set "exploration" or " Scan" I get msg as Missing buy sell variables. I am unable to insert the buy sell conditions.. If anyone can insert the buy sell conditions as shown in the charts of Mr Linkon, and present it in the attachment form.. it would be greatly benefit for members here.
Thanks a lot JK. Take care
Regards
Thanks a lot JK. Take care
Regards
Rishi, just some constructive input here. The ichimoku cloud is the cornerstone of my methodology, so maybe I can point out something for you to be aware of in the future.
I know you were looking to go long at 1.5600, and it would have proven in the future to have been a good move, but this was not the time to look to go long.
Simply put, the candles on the hourly chart are flying too high above the cloud. Picture it as an airplane, and the altimeter is showing there is too high elevation above the cloud. I needs to come down a little bit. By viewing this TF, as we as the others around could have supported a much more optimum entry for you on the long.
I know you were looking to go long at 1.5600, and it would have proven in the future to have been a good move, but this was not the time to look to go long.
Simply put, the candles on the hourly chart are flying too high above the cloud. Picture it as an airplane, and the altimeter is showing there is too high elevation above the cloud. I needs to come down a little bit. By viewing this TF, as we as the others around could have supported a much more optimum entry for you on the long.
GBUSD ON H1
* bull cloud formation on right
* price above kijun sen
* + dmi 28
* extreme left cloud resistance is also 1.5600
* bull cloud formation on right
* price above kijun sen
* + dmi 28
* extreme left cloud resistance is also 1.5600
Tavnaz, ichimoku is an excellent indicator to use on all TF's. The reason you get a so-called false signal on lower TF's is because many people only trade off of one TF, as is indicative by your post. You can make outstanding trades on the 5-min. You might get a signal on the 5-min to go long, but the candle just crossed under the 4 hour cloud with a TK cross. It's okay to go long, but be prepared to get out quick. What is better is to use the 5-min to perfect a short entry based on what the 4-hour says. I can use copious examples, but I'll post a couple of charts to show what I am saying.
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I see 5 signals on the top chart, but only 1 on the bottom. The top chart is the daily chart, and the bottom is the 5-min. The 5-min was in agreement.
This is because recent action on the 5-min has agreed with the upper TF's.
Let me give example as it peers into the future. Many people on this site like to trade Nifty. It is correcting the recent rise it made after bouncing off the top of the weekly cloud. After the correction is finished around circa 5371, the market will go sideways. It is during that kind of market that 5-min will yield a bunch of signals. It is better when the markets go sideways to scope it down a little on the lower TF's. You just have to be aware of everything that is going on around you.
One more thing. I guess I subliminally gave the example of Nifty as a repudiation of the thought that ichimoku works best in the Japanese markets. Ichimoku (one look) was masterminded to work in all markets.
Rishi, I just read your whole thread. IMO, you are going to excellent. From what I can tell, you have made all the right moves. You've demo traded for quite awhile using conservative margining principles, and grew your account about 12%. I can also tell you have made some mistakes and learned from them (BTW, I still make them. I'm still in Forex school. There are no degrees, just constant learning.)
Keep up the good work! Wishing you the best of success!
Keep up the good work! Wishing you the best of success!
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