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This chart is a perfect representation of the power of the pitchfork. Amazing..
Today, we had a bull trap and a drop in price breaking the lows. I think that this move should take us to the KS before we can decide on the next move for this pair. Notice that we also have a divergent bar (TS moving up and price breaking lows). Tomorrow, if we break the low of the bar, we should be in a nice trade down.
Good luck
Comment
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Be nice with the likes please
Comments
JumpJumpBunny
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I shorted at 0.74521. Slightly early as the resistance too strong in my opinion (at Fibo 50% and Kumo (daily)). I could be wronged but the doji and engulf candles in 240HRS too tempting.
Ichimoku_Trader
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you can do that.
My method is safer
I always like safety especially with the trades I post for you guys
Trader77
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Sorry this is not related to the topic,
Is there any formula on how much of my investment should/Can go into each trade?
Ichimoku_Trader
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yes
Trader77
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Thank you
Ichimoku_Trader
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My pleasure
AlphaDreams
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Short since .74628
Ichimoku_Trader
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great
nirmal74
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Ichimoku Trader, just a one question.
Is this understanding correct? If the TS line cuts the KS Line from above - the price moves down and if the TS lines cuts KS line from below the price moves up?
Ichimoku_Trader
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In traditional ichimoku understanding yes, in the PanOptic Method no