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Starting with a gap down this morning which could be seen in the chart of yesterday. The monthly price is wading through the KUMO with speed. (Explanations to both themes to come on weekend).
Now price is right around 11400.
Today is Friday AND the last trading day of the month.
Trade
DAX long 9:30 to 16:30
entry @ 11548
exit @ 11518 (SL)
result -30 points
Good trades - the vola seems to be trader's paradise
Getting some insights into a very helpful indicator - the Ichimoku Kinko Hyo - or THE CLOUD - explained here on a one month chart. Means every candle shows one month of the DAX.
• Kumo is like a river which is normally sort of a "middle" pricing with different resistance depending on the distance to the next "beach". This Kumo is a support as long as the price is above the upper line. Same vice versa when price is south of lower line
• Price normally does not cross Kumo as long the OPPOSITE line is not horizontal - means a horizontal opposite line is always attracting price
• crossing Kumo normally happens very fast. That moment shows higher vola than normal and results in LONGER candles
We can see that the "wading through the Kumo (cloud) happened in March in ONE rush with high vola and of course with high volume. The "wading through" back after the turning point took a hefty reversal of 3 months.
Now we are stuck again in the middle of the Kumo (Oct) with direction south. At least in this month the wading through should finish in either direction but it will happen.
The prediction in the chart means to see prices soon of lower 10k in the DAX:
Thanks for the link! I browsed through and can recommend the most important phrase: "Don't change the settings of Ichimoku!"
I am using this indicator since a very long time and know very well about to handle it. Especially on different time settings.
As THIS thread does treat patterns - Ichimoku is just a part of the charts I use every day.
The first chart with this indicator here in the thread dates back from 2012:
Some points to agree with...
Looking to see some nice up moves tomorrow and
Friday.
Anyway the system has brought the right decisions
to gain some points this week.
Attached a part of my daily Ichimoku Charts to
underline above statements.
If you are …
As the many readers of this thread often get some thoughts about the upcoming scenario which I derive from the different charts I want to show why I am tending to those markers and developments. Ichimoku is a wonderful tool exactly for this. Last 6 months brought some very interesting moves in the markets that brought troubles to many traders.
For those risk oriented with a clear trading plan it was a fortune. For others it meant to stay at the sidelines.
To sum up my experience with the mentioned "Kumo" or cloud in my last post then I have to point out that as long price is in monthly, daily or in 60m Kumo there will be erratic movements - means no real direction. Just as a warning and trading support.
New month, new week - US elections right ahead - no special numbers today
DAX long 9:30 to 16:30
entry @ 11560
exit @ 11812
result 252 points
GFIs1
edit 10:53 • 11730... not a bad start!
This time the preparation for the Monday trade was good.
edit 11:40 • 11766... R2 in sight @ 11832
edit 15:10 • on track! 16:30 is a turning point - so let the trade play out
edit 16:01 • R2 reached
edit 16:33 • looks like 16:30 really is a turning point