Hi friends
I saw Ichimoku system many times. with those lines running cross the chart and with those colored clouds it never made much sense to me.
I confess I was wrong.
Reason -No good guidance or no right kind of hints came my way.I NEVER GOT IT.
Recently I was sent a video presentation of Hubert Senters,a protrader, by a trading buddy.
Though reluctant,I said-let me take a fresh look at it impartially.
And this outlook saved me .
I realised what power ICHIMOKU is having for doing successful trading.
I tried two day trades and both turned out success.
Thank God for making me see the power.
ICHIMOKU ANSWERS THE QUESTION
What is current trend?
you get right answer.
As I always say,the purpose of the post by me is to provoke independent thinking and create a new awakening of interest to overcome trading problems.
First let me share some summary.
1.ICHIMOKU can be used on any timeframe.
If you choose a 5minute or 10 minute chart,the trend moves that occur normally last for 4 hours.
Intraday scalpers can use this info.
After this much time the trend gets exhausted and price goes into sideways or counter trend. so continuing in the same direction results in losses because of trader inertia.
swing traders
IF you chose 60 minute timeframe chart,the trend move that follows can last upto 3 days length. swing traders can utilise this info.
2.About ICHIMOKU
The clouds are support or resistance zones.
price goes near by and bounces off.
at times price crosses thru the clouds breaking out.
IF THE PRICE GOES ABOVE THE CLOUD,IT MEANS A LONG TRADE IS READY TO SET UP.
If the price goes below the cloud,it means a short trade is about t set up.
LAGGING LINE-ALSO CALLED DELAYED LINE.
This is the first indication of incoming new trend.
This is a slow thing and powerful.
If the LAGGING LINE GOES ABOVE THE CLOUD, A LONG TRADE IS GETTING READY SOON.
After some time,price will follow-one must understand this advance indication and the lag with whichprice trend follows laggingline.
Without this understanding,without knowing the LAGGING LINE mistery,you cant use ICHIMOKU.
There are two other lines called standard line and turning line-these are secondary-to be seen later.
LONG TRADE
CONDITIONS
1)LAGGING LINE CROSSES ABOVE THE CLOUD
2)PRICE CANDLES GO ABOVE THE CLOUD.
NOW LONG TRADE IS SETTING UP.
ENTER LONG ON THE FRESH CROSS OF PRICE ABOVE CLOUD WITH CLOUD TOP AS STOPLOSS. SCALPERS USE 2-TO 3 POINTS AS RISK.
LONG EXIT WHEN PRICE STABILISES AND MAKES NO MORE HIGHER HIGHS AND DROPS TO CLOUD TOP.
TARGET IS BASED ON FIBONACCI OR MULTIPLES OF ATR(14) COUNTED FROM ENTRY.
-------------------------------------------------------------------
SHORT TRADE
CONDITIONS
1)LAGGING LINE CROSSES BELOW THE CLOUD
2)PRICE CANDLES GO BELOW THE CLOUD.
NOW SHORT TRADE IS SETTING UP.
ENTER SHORT ON THE FRESH CROSS OF PRICE BELOW CLOUD WITH CLOUD BOTTOM AS STOP LOSS. SCALPERS USE 2-TO 3 POINTS AS RISK.
SHORT EXIT WHEN PRICE STABILISES AND MAKES NO MORE LOWER LOWS AND RISES TO CLOUD BOTTOM.
TARGET IS BASED ON FIBONACCI OR MULTIPLES OF ATR(14) COUNTED DOWN FROM ENTRY.
watch these videos
not to buy anything.
http://www.youtube.com/watch?v=nGFV9BPFwn0
http://www.youtube.com/watch?v=iMgfu5JYfF0
The recent power presentation
http://www.youtube.com/watch?v=5yH8Wjss2fA#t=289
CAUTION
THIS POST is meant for traders who are not so busy and not so emotional but can spare some time as the videos take much time.
I saw Ichimoku system many times. with those lines running cross the chart and with those colored clouds it never made much sense to me.
I confess I was wrong.
Reason -No good guidance or no right kind of hints came my way.I NEVER GOT IT.
Recently I was sent a video presentation of Hubert Senters,a protrader, by a trading buddy.
Though reluctant,I said-let me take a fresh look at it impartially.
And this outlook saved me .
I realised what power ICHIMOKU is having for doing successful trading.
I tried two day trades and both turned out success.
Thank God for making me see the power.
ICHIMOKU ANSWERS THE QUESTION
What is current trend?
you get right answer.
As I always say,the purpose of the post by me is to provoke independent thinking and create a new awakening of interest to overcome trading problems.
First let me share some summary.
1.ICHIMOKU can be used on any timeframe.
If you choose a 5minute or 10 minute chart,the trend moves that occur normally last for 4 hours.
Intraday scalpers can use this info.
After this much time the trend gets exhausted and price goes into sideways or counter trend. so continuing in the same direction results in losses because of trader inertia.
swing traders
IF you chose 60 minute timeframe chart,the trend move that follows can last upto 3 days length. swing traders can utilise this info.
2.About ICHIMOKU
The clouds are support or resistance zones.
price goes near by and bounces off.
at times price crosses thru the clouds breaking out.
IF THE PRICE GOES ABOVE THE CLOUD,IT MEANS A LONG TRADE IS READY TO SET UP.
If the price goes below the cloud,it means a short trade is about t set up.
LAGGING LINE-ALSO CALLED DELAYED LINE.
This is the first indication of incoming new trend.
This is a slow thing and powerful.
If the LAGGING LINE GOES ABOVE THE CLOUD, A LONG TRADE IS GETTING READY SOON.
After some time,price will follow-one must understand this advance indication and the lag with whichprice trend follows laggingline.
Without this understanding,without knowing the LAGGING LINE mistery,you cant use ICHIMOKU.
There are two other lines called standard line and turning line-these are secondary-to be seen later.
LONG TRADE
CONDITIONS
1)LAGGING LINE CROSSES ABOVE THE CLOUD
2)PRICE CANDLES GO ABOVE THE CLOUD.
NOW LONG TRADE IS SETTING UP.
ENTER LONG ON THE FRESH CROSS OF PRICE ABOVE CLOUD WITH CLOUD TOP AS STOPLOSS. SCALPERS USE 2-TO 3 POINTS AS RISK.
LONG EXIT WHEN PRICE STABILISES AND MAKES NO MORE HIGHER HIGHS AND DROPS TO CLOUD TOP.
TARGET IS BASED ON FIBONACCI OR MULTIPLES OF ATR(14) COUNTED FROM ENTRY.
-------------------------------------------------------------------
SHORT TRADE
CONDITIONS
1)LAGGING LINE CROSSES BELOW THE CLOUD
2)PRICE CANDLES GO BELOW THE CLOUD.
NOW SHORT TRADE IS SETTING UP.
ENTER SHORT ON THE FRESH CROSS OF PRICE BELOW CLOUD WITH CLOUD BOTTOM AS STOP LOSS. SCALPERS USE 2-TO 3 POINTS AS RISK.
SHORT EXIT WHEN PRICE STABILISES AND MAKES NO MORE LOWER LOWS AND RISES TO CLOUD BOTTOM.
TARGET IS BASED ON FIBONACCI OR MULTIPLES OF ATR(14) COUNTED DOWN FROM ENTRY.
watch these videos
not to buy anything.
http://www.youtube.com/watch?v=nGFV9BPFwn0
http://www.youtube.com/watch?v=iMgfu5JYfF0
The recent power presentation
http://www.youtube.com/watch?v=5yH8Wjss2fA#t=289
CAUTION
THIS POST is meant for traders who are not so busy and not so emotional but can spare some time as the videos take much time.
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