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Today we got some indication on price development in the Dax.
Looking a bit further we can see some interesting parts coming:
1) We had today the first touch into (1h chart) Kumo
2) Bounce and getting up again
3) looking for new ATH with this or the next touch
4) ATH will happen with NEWS from next week
and then
5) sinking down again into Kumo and
6) more south to cash in the money generated on 3rd attempt...
Hi Grantx
Yes - I use Ichimoku since many years - of course with ALL indicators.
This thread has some examples with all indies to explain.
BUT: Many members do not use Ichimoku and can not judge when too
many lines are in a chart: this is why I omit some lines (lagging chikou
etc.) to only show the MAIN intentions. The cloud is very important here.
Of course my system uses several parts of Ichimoku for every event
(tested over longer time though) to have some high probable entry/exit.
This can be seen throughout this thread with charts posted.
I like to show the decisions and outlooks based on 30m or 1h candles
here to make it more easy to digest all that stuff.
Ichimoku is indeed a very good base to see where price might head to.
My daily Dax rules are taking some advantage of Ichimoku - but
relay on patterns that are given by hundreds of daily trades supporting
the positive outcome.
Ichimoku is widely spread - the given shown charts are free of costs.
For more detailed views I use IRT of linnsoft.com with DTN.
I agree it is a powerful tool when used correctly. I use it solely with renko on the gold index and it provides some amazing signals. I rely on it primarily to indicate when not to trade. My wife is in the process of teaching me all the little nuances and Im hoping to integrate it more into my decision making. I have a thing for clean charts (the engineer in me) so at first hated the idea of Itchimoku because of how messy it looks but I have warmed to it.
I see you have the ichimoku loaded in ninjatrader. Where did you get that as I cannot find a free one.
Thanks
Thanks for your thoughts about Ichi.
In fact the CLOUD does tell you - when NOT to trade!
Especially from daily, then 1h clouds (beginning of a signal).
The cloud is the medium of price in the very past of a given
time frame. So if price starts within the cloud some erratic
moves are normal.
I am afraid thats not true your trades are not in advance . You update your exits hours later , for example yesterday's trade went against you 56 points then hours later you mention you have managed +9 points . Dont you have a SL around 30-40 points away .
There are some days I am not at the screen all day. This
is the positive part of this pattern trading.
About my stops you can find some hints in the last month:
We are in a special situation where price is/was in Kumo
(cloud) on different time frames like 30m, 1h, 4h. Plus
riding near new ATH. The rules give different range for the
stop in such rare occasions.
In fact the Wednesday rule with entry/exit/IB vol as we had
yesterday you can find in many trades here in the thread.
Truth is that I gave entry/exit time/IB vol @ 10:10 CET. Entry
was taken - exit set. Result came in late afternoon as update.
It is in most cases (depending on the entry time) preset near
taking a trade or sometimes quite in advance - in rare cases
even the day before when things are very clear.
Thanks for following.
GFIs1
PS: there are many hundreds of journals here on fio. Not a lot
that exceed 5 years presence with input nearly every week - and
done by one man. Please give me ONE example of similar signal
sending like you can read it here.