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There was a cross of the Tenkan and Kijun under ther cloud. I was determined to stay with this trade and use the Kijun as a stop. I based my decision on the cross under the cloud indicating another strong move down again. I usually go for 10 pip targets and reenter the trend as price closes under the Tenkan.
My home work this week is to look at my charts in different time frames and to pick one or two and stick with those. Often times I search for a trade and hope it works out. This is how I lost the 6A trade the other day. I missed it one time frame and waited for it in another, took the trade only to see or pull back and I was stoped out for an 11 pip loser.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
Evidence of a retracement or reversal. Price broke the kijun and chikou span broke price line, clear evidence of at least a retracement. It was a very slow afternoon
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
On the 1 H chart price under a thick cloud, price closed under the Kijun line, and the Chikou span just starting to clear the price line. With this continued bearish sentiment I looked on the 15M chart and price was closing under the cloud. Was a nice 22 pip winner.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
Looking at 1H chart price is on top of cloud but between the kijun and tenkan. When price broke the komo it was in agreement with higher time frame. Entered at open of bar and stayed in trade for 20 pips.
I took myself out of a trade went on for 50 pips. I need to let the trade run, this is hard for me to do. I have always gone for 10-20 pip targets.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
I was looking at Chris Capre's website over the weekend, he has 6 different strategies that he uses with ichimoku. One of them is called "Wx shadow 3M chart." I found two different definations of "shadow" the first was it is the cloud behind the current one. The other defination was flat spots on the cloud.
My take on it is that is a breakout strategy that is anchored by other aspects of ichimiku trading.
This is the trade that I made.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
I was not going to take this trade because price was still above the komo om the 1H chart. The steep angle of the kijun and tenken lines made me think otherwise. I thought it indicated strong momentum.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
Not much going on today with ichi 5M chart. I missed a trade at 7:30 Am ET. Not much after that. This is the one thing I do not like about ichimoku. It can take forever for a set up and if you miss it that can be the only one for the day. I need to watch multiple instruments to trade. There were nice trades on 6A and 6C, since I usually only watch 6E I missed these setups.
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
