Analysis based on Ichimoku

Yes, someone in another thread told me my data is 2 days behind.

Paul Sir.... Start Chartnexus.... Go to View >> System Settings >> Under "General" Tab, there is an Option for "Enable Data Update during ChartNexus Startup"..... Please Tick this Option and Restart Chartnexus.... It would update itself to latest data.....

Also, if you again see that data is not updated/ to manually update it... then just press "Data Update" Button as shown below....

Sir i am posting 4TF charts for GMR INFRA

I am seeing long entry here above Rs. 30
Reasons after Crossing 30 Houlry will be above the cloud, Tenkan is moving with the price and kijun will also start following
4 Hourly
At present we are inside the cloud however oce we are at 30 price will be above 4H kijun and we may be above the cloud too we may need 8-10 candle for that
Daily

Once price crosses 30 we will be above Cloud, tenkan kijun Combo and tenkan will also move above Kijun

Weekly
At present price is supported by tenkan kijun combo and it is below the cloud
But weekly cloud may be breached in second attempt and the we may move above it
Kindly review


By rkgoyal_98 at 2012-03-01




By rkgoyal_98 at 2012-03-01

By rkgoyal_98 at 2012-03-01

In addition, let me add something about the kijun. It has acted as support up to this point, but it still has not contained. It will not officially contain until the candle is finished at the end of Friday's price action. It can make a strong spike under the kijun then come right back up. As long as it closes above it, then it has contained, and it has also supported price.

T4P, I think we just met, so I look forward to some more interesting dialogues with you.

I'm a little confused here. (Pardon me if it appears I am trying to put you on a spot.) You said it was not technical stuff that pushed the stock north the last 2 days. You mentioned the bounce off the weekly kijun, and then the bullish harami. I mentioned a few days ago about the weekly kijun containing or we get a sharp move further south. Is this not all technical stuff.? Could you not make some high profit, low risk trading decisions on these technical indications?

You mentioned the bounce off the weekly kijun, and then the bullish harami.

I thought you might be thinking long by now with the stock peering out of the daily cloud and bouncing off the weekly kijun.

T4P, I noticed the unusual volumes in Suzlon yesterday. Also, yesterday it made a sort of bullish engulfing pattern. But on a larger picture, you will also notice the lower tops lower bottoms pattern. It could also have the beginning of a bearish Wolfe Wave. All in all, time to keep it under observation.

T4P, I noticed the unusual volumes in Suzlon yesterday. Also, yesterday it made a sort of bullish engulfing pattern. But on a larger picture, you will also notice the lower tops lower bottoms pattern. It could also have the beginning of a bearish Wolfe Wave. All in all, time to keep it under observation.

You are right! We have just met, but I have been a silent spectator in all your ichimoku forums since I heard about ichimoku! Since you are trading in the USDJPY and other currencies which are not available in India, I cannot gain any knowledge from there (like backtesting, analysis ... etc).

I have been following the candlestick patterns till I learnt the new strategies like 315 (proficient) and ichimoku (beginner). So old habits never die! I still look at the candles and try to understand what it is telling me.

Though there are strategies, I sometimes rely on RSI, MACD and candlestick patterns to understand where the price is moving. But then you are right, I have shorted stocks when RSI was 90+ and still seen the price overshooting and making me exit in loss.


You are cent percent right on this! I do not trade much on news either, but then when I see technical trends and take it, the trade sometimes goes in the wrong direction and finally a few days later you see some news that was the reason for which the technical trend was invalidated. I just referred to that point. Obviously, there will be big bulls who knows technical trends like the back of their hand, and they also know that there are minnows who will be trading using this technical trend and try to take us out here!


The trend was validated by a Bullish harami. So if you had gone long the next day, you would have gained 3 to 4 points based on this pattern alone. This does not determine the short term trend or the long term trend. It only determines what you can do the next day or the day after till you get a signal that says "Enough is enough, now wait for another signal".


I did some intraday trades but not based on any of the above points. I just felt a hunch to do it looking at the candles and did it.



All in all, since there was a post on the stock which I was watching, I thought to add some of my points. But know what, I came to know new strategies by sharing this. I was referring to the bearish Wolfe Wave. Got to check this out now! Thanks!:thumb:

T4P, I'm glad you shared some of your insights. It has just helped me to know you a little better, which as friends and traders it helps us.

I actually track 26 forex pairs, but 90% of my trades are on the 11 major pairs as featured in my Weekly Forecast. If it would help in the furtherance of your understanding of the ichimoku, then you can name a market of your choice, and then we can review it through the eyes of the ichimoku. If it is forex pairs you are interested, I know there are a few brokers that will allow Indians to open a demo account with on an MT4 platform, and then you can look at any forex pair of your choice.

I look at USDINR and EURINR. Sometimes I do track JPYINR, but it is very volatile and I have made some loss there. Having said this, is there any free website like chartink that plots the forex currency for free? I have not hesitation in taking a subscription in charting software, but I would like to get myself used to ichimoku before I start using the ichimoku advanced charts, of course PAID.