Ichimoku Kinko Hyo trading system...!

[linkon7]

Thanks Lincon...for a god explanation..In my chart what I saw is daily cs is close to weekly cs trendline..failure to cross will be a good short trade but if it crosses then it will cross pivots of CS(5154)...will be a good long trade..lets see what happens

The weekly still doesnt look so good....!

5664 is the pivot high that gave rise to a range extension on the down side. Thereafter we have been trading in a range, and as of now, we are on the top of that range. Trend line break on CS does not assure us a change on trend. That pivot high that gave rise to a range extension, needs to break, for us to assume a trend change.

Most traders feel that once 5170 breaks we will shoot to 6000 level even. So rest assured it wont happen easily, just like when everyone was expecting 4300-4400 to come by last month itself and most bears are paying a price for their assumptions. Break of 5170 and all of them will be running for cover.

5299 has been acting as a weekly support for multiple instances and so expecting that lvl to act as strong resistance now.

 

[CamelToeJoe]

TS and KS periods of 96,280 (24 hours of futures trading)
on the 5min chart is excellent for avoiding whipsaws that are commonly seen
in the shorter periods such as the traditional 9,26.

/CL (oil) is bearish here in this 5m chart.
Price above TS/KS is the first trigger for a counter trade entry.
CS is confirmation which shows us that price is now higher than yesterday's close.
Whatch for support here. We may see a pullback here if TS does not cross above KS. A tight stop should be used with counter trades and targets are a must.
First target here would be 86.86 (bottom of flat kumo).

Stop placement would be dependent upon the MAE of this setup which I don't not have
at the moment.

Theoretically this trade is up 64 ticks at the moment.

I usually trade with the trend and when I counter I usually counter longs to the short side as they are more often than not quicker and more powerful.
This was just the first chart I pulled up.

My current system (not ichimoku) shows take profit at 86.55 and to only go long above that price.

 

[CamelToeJoe]

Great counter trade that turned into a bullish breakout after hitting the first target (bottom of kumo)

My current system triggered an entry at 86.50. Took profit at 88.48 (Point of Control) (+198 ticks)

30 tick drawdown which is extremely good with CL futures. It's a beast of an instrument to trade.

 

[coolmaan1]

Great counter trade that turned into a bullish breakout after hitting the first target (bottom of kumo)

My current system triggered an entry at 86.50. Took profit at 88.48 (Point of Control) (+198 ticks)

Is there some explanation about your system somewhere

 

[CamelToeJoe]

Is there some explanation about your system somewhere

No, systems are defined by their rules and I can't give my rules out as that's my edge but I can tell you that I use the volume profile. I don't want to sidetrack the Ichimoku thread but if you search 'IchibomB' you can find me on the internet. 1st one up in google (at least on my screen).

 

[CamelToeJoe]

From bearish to counter trend bull to full on bull (price above kumo), Oil broke out after support on KS and a break of TS for the entry. Also note that CS never crossed below price for added confirmation. Price is of course still bullish but watch for the fade after such a big spike.

 

[CamelToeJoe]

Full on bull still ripping. No real reason to jump out of the trade.
There really wasn't much of a fade. Of course locking in profits is advised.
(I'm not trading CL now. Just following up).

 

[ashwani chadha]

thanks for giving such a perfect brief description of the one of the best trading system of the world

 

[sunny_cool]

Linkon Sir & Ichibomb Sir

Please analyse these charts
How these two settings can make difference?
How much importance we need to give long term trendline?
How strong is downward move according to Ichi (Price below Kumo,TS & KS following,CS blw price action )?

Thanks in advance

Ichi 9,26,52

Ichi 5,10,20

 

[4xpipcounter]

Hi Sunny. I'd like to jump in and offer my input.

Your middle number (20 and 26) is the chinkou, and the quantity of candles is plotted behind current price action Just in its evaluation, it makes a big difference in your preference of the 2 settings. The 20 is very close to a crossover of the candles, which would signal a long. With the 26, you would be waiting about 6 candles later for the crossover.
The question is not about getting a quicker crossover, but it should be does the 26 give a truer indication and does the 20 give a fake out, or does the 20 give a true indication, which means you get in the trade sooner.

Also, consider the tenken and kijun. They are more stable on the upper chart. They are converging quicker on the lower chart. When they have converged, they form a more formidable S or R (in this case, R). Only price action, once it gets there will answer the question just how dependable the R is in this case.
I got my answer to that, but I prefer to keep my biases out of it, and leave that part of it open to your personal evaluation.

The cloud is also taking on a complete different appearance.

You asked what the difference is. I'll answer it like this. If you covered up the settings and just said one is 5,10,20 and the other is 9,26,52, I would be able to tell you which one is which.

Here's another thing. Delete the candles from your chart, then blow both charts up as big as you can make them. You will notice a huge difference.

Linkon Sir & Ichibomb Sir

Please analyse these charts
How these two settings can make difference?
How much importance we need to give long term trendline?
How strong is downward move according to Ichi (Price below Kumo,TS & KS following,CS blw price action )?

Thanks in advance

Ichi 9,26,52

Ichi 5,10,20