FX:AUDUSD   Australian Dollar/U.S. Dollar
2194 31 46
8 months ago
Plan #1: (this is my personal preference)
Follow through with the breakout buy which we made on Friday targeting the upper red zone at first and going to the fair market value zone at later stages. In this case, your stop should be just under the critical level risking about 66 pips. Placing stops anywhere before the low is counter productive, don't do it.

Plan #2:
If you are undecided or pessimistic about the long but not really sure, try bracketing the market around Friday's price action. be careful though as I am expecting a bear trap on Monday (expect whipsaws)

Plan #3:
Wait for the 'CS' setup

8 months ago
Comment: First target reached.
8 months ago
Comment: Those who want to stay (I'm staying) in the trade can now move their stops just under today's low for a risk of only 25 pips from entry.

What's next: We need to now break TS, and close above it
8 months ago
Comment: People are askin about where exactly to place the stop. I placed mine exactlyat 0.72100. So you do not have to have it too far from the low
8 months ago
Comment: So that would increase your risk to 30 pips
8 months ago
Trade active: I will not use this chart any more. I have posted a new one.
I'm still long .. please check the new chart
Pressing the like button encourages me to continue publishing my ideas and is highly appreciated...

I have a section on my page under the tag "Educational" that contains a lot of information on my trading method, please take sometime to read it...
Vytasbcn
8 months ago
Then about the risk management. In this case you risk 1% in those 66 pips or you put 0.25%? 66 pips means that the stop is 25 pips lower than critical level. Then the RR ratio at the moment is 1 approximately. So what would you advise me?
Reply
Ichimoku_Trader Vytasbcn
8 months ago
Great question

As you know, there are 2 ways to enter the market.
1. On a breakout
2. On a retracement

Personally, I like to use the second and avoid the first as much as possible. however, if I do use the first, then i will usually enter with only 25%-50% of my intended final investment size as you've seen me do on many occasions.

As for this trade, the stop loss is just under the critical level and not 25 pips under it. The 66 pips I referred to is from the breakout entry level to the critical level.

I hope that clears up things for you
Good luck
+1 Reply
Vytasbcn Ichimoku_Trader
8 months ago
Alright! I thought it was from a closing price... So how many pips do you usually put the stop under the critical level? 3-4? What do you base your decision on on how many pips under the critical level? Also I was looking at 1H trying to understand their position and see if the retracement is finished or not. As I understand it could be past its bottom as the CS started to climb back. But I am not sure if I am right...
Reply
Ichimoku_Trader Vytasbcn
8 months ago
Well, your stop should be no more than 15 pips below price, I usually place it less than 5 pips below the CL.

Many people use fib extensions (those are retracements that are greater than 100%) to place their stops. With my critical level which is very very accurate, I personally like to use 2-3 pips but I advise you to do a bit more because sometimes price punctures the CL, retraces (where you can get out) and then comes back to complete its journey.

As for H1, we are now retracing. We do not know when this will end until it ends. It should not pass the low since it only did 1 leg up.

Good luck
+1 Reply
Vytasbcn Ichimoku_Trader
8 months ago
Yes, I realized that I place stop loss too tight sometimes - it kicked me out with losses from really good positions few times on CS setups... It is good to know that it should not pass the low.
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Ichimoku_Trader Vytasbcn
8 months ago
It should no pass the low IF IT IS WELL CHOSEN

Good luck
+1 Reply
Vytasbcn Ichimoku_Trader
8 months ago
You are right here too! I know also (retrospectively) that in quite few tries with CS setup I did not choose well, trying to catch it earlier than it really came :D
Reply
Ichimoku_Trader Vytasbcn
8 months ago
well, the good thing is that we learn from doing and making mistakes

Good luck
+1 Reply
Vytasbcn Ichimoku_Trader
8 months ago
Yes, we do.
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FXSpider
8 months ago
Thanks for new Idea :) I'm in plan #1.
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Ichimoku_Trader FXSpider
8 months ago
So am I ;)
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sasacoco Ichimoku_Trader
8 months ago
thank you for your chart and Iam already in
Reply
Ichimoku_Trader sasacoco
8 months ago
Great
Reply
Vytasbcn
8 months ago
As I am not in the position yet, I will get there on Monday with the stops under the critical level.
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Ichimoku_Trader Vytasbcn
8 months ago
well, you'll get a better deal than I got. About 50% off. Not bad

Good for you
+1 Reply
Vytasbcn Ichimoku_Trader
8 months ago
Let's see if that bear trap happens when I am online, So then it would be even better opportunity, but it will be seen. Thanx again for good idea. I still need to learn well the entry points and choose it well, your slides help a lot.
Reply
Ichimoku_Trader Vytasbcn
8 months ago
Thank you

Being greedy I see. In this business, that's good.
When you get the pips, be generous to others. Make everyone happy

Good luck
+1 Reply
Vytasbcn Ichimoku_Trader
8 months ago
Oh yes!
I still try to learn to be systematic though, trying to get rid of all those emotions and just analyse. On 1H chart there is a big red candle that closed below TS, though TS is still pointing up... CS is heading slowly north, but it is in the clouds... when it reaches the right border it will probably go up, but it may not either. Though the pattern looks very similar to the one that has developed the 17-05-2016. So then again the best bet would be just to enter. Because otherwise trying to chase the ideal deal you may miss the real deal, right?
Reply
Ichimoku_Trader Vytasbcn
8 months ago
well, if you can save go for it. If you risk missing the trade and you believe it will be a nice trade, then be more aggressive. It's your call.

Whenever the market switches from one direction to another, it has to go through labor pains. Labor pains show up on the chart as short struggles in both directions. So once the market break the critical level in the first leg, I just wait for it to settle before reading its signals again because most of its messages will be the pains of disconnection.

I hope that makes sense to you
+1 Reply
Vytasbcn Ichimoku_Trader
8 months ago
Oh yes it makes a lot of sense to me! i just did not know when and how to identify those "pains". Your explanation helped me a lot!
Reply
Ichimoku_Trader Vytasbcn
8 months ago
great
Reply
WinBigBig
8 months ago
I have long!

AUDUSD entered long at 0.72446
Reply
Ichimoku_Trader WinBigBig
8 months ago
Thanks for sharing
+1 Reply
WinBigBig Ichimoku_Trader
8 months ago
you are welcome :) Love your charts too :)
Reply
Ichimoku_Trader WinBigBig
8 months ago
Thank you very much
+1 Reply
Saravan
8 months ago
Nice. This support is an important one for Aussie.
AUDUSD holds important level. upside next week
Reply
Ichimoku_Trader Saravan
8 months ago
Thanks for sharing
Reply
scsmith1967 PRO
8 months ago
Just a question: What is the indicator below your IMC?
Reply
Ichimoku_Trader scsmith1967
8 months ago
I'll tell you if You tell me what IMC is

Thanks
Reply
Adel.ps
8 months ago
Hello sir
I'm speaking arabic
I am a beginner
I like follow your plans, but do not know much on Ichimoku
Turn sticking with the stock, which put it.
Reply
Adel.ps
8 months ago
Enter the direction of the arrow
Reply
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