Ichimoku_Trader

Bearish now, but why not...

FX:USDJPY   U.S. Dollar/Japanese Yen
953 26 46
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Comment: I am still waiting for this setup to materialize. Still looks good to me
Comment: NFP is coming in less than an hour. You can ride this trade out and see what will happen. In that case, please use a very good stop loss or you can close shop and re-open after NFP depending on the situation then

Good luck
Trade closed manually: Unfortunately, I left this trade before it concluded because I do not trade more than one pair during news. But as usual, CS setups just work. So learn them well

Have a good weekend
Nice set up thanks! Will observe but won't trade it until after NFP if applicable.
+3 Reply
ok
+4 Reply
Hi Ichi, have you already entered short?
+1 Reply
The first entry is long
I will enter long after the first sign of bullishness (maybe this candle will be green)
+5 Reply
Thanks Ichi for clarification. I see there is a slide on CS set up in your educational section (AUDUSD slide). But I have a number of unclear points about CS set up

1. in this USDJPY what level signal would make you long? level 1? just a bullish H4 candle even if it is smaller than prev 2 bear candles?

2. What is the reason for going long? Is this because the last two bear candles have a tweezer bottom and also a kind of buy pressure seen in one of them?

3. Why do yo play this trade although you think price may go either way?
+1 Reply
1. I would take any signal no matter how small
2. CS meets SSB = the very edge of the gravitational pull.
3. 90% of the time it will go back in the trend direction. So in this case, i said i was a bear because I have fresh signs to be a bear but in reality, the upmove is still in tact and there is a very high % it will continue up. So I always like to give statistical probability the first position and not my own opinion
+4 Reply
aziz.au Ichimoku_Trader
Thanks a lot Ichi, so enter long if current H4 candle closes bullish (in 3 hours i think) and SL at 108.80?
+1 Reply
yes
but try to put your stop just under the CS pivot
if you are stopped before we place the reverse, just try again
+2 Reply
aziz.au Ichimoku_Trader
Hi Ichi to follow up with this trade, did you enter long after the pin bar formed? I can see now two more bull candles? If this keeps going up that's good. In what condition would you reverse? What level signal would you need to reverse? Could the upward move be a retracement of bear move?
Reply
Yes I did and i'm still in even after that last red candle
As for my reversal, I'm very hesitant to reverse today due to NFP.
So I'm thinking, if it goes up, I'll let it and if it stops me out then I'm out
As for the upward move, surely it is a retrecement. We have been bearish since we broke 109.032 but there is a good distance to the nearest resistance (80 pips minimum)

Good luck
Reply
aziz.au Ichimoku_Trader
Thanks ichi.
Reply
My pleasure

be careful today
Reply
when do you expect to go long and what CS stands for ?
Reply
CS is the green line = chikko span
and here is how to trade it


A very lucrative setup to learn...


good luck
+1 Reply
shero Ichimoku_Trader
Thx, I'm almost the only one who uses Ichimoku indicator among my friends, I fell in love with it when I read about it.
and I prefer to trade the direction when the price penetrate the cloud but i never understood the part related to the color of the cloud ... in the above picture the cloud is green shouldnt that mean that the price is moving up ... but that isnt happening !!

Reply
ok

1. I do not trade traditional ichimoku. i have my own method. So be careful when you compare what i do with what others do
2. The kumo is many things. it is not a signal provider. the color of the kumo is not very significant
+1 Reply
If you look where the cloud is expanding you can see a "cloud twist" which indicates a change from bullish to bearish sentiment. Notice the relationship between the cloud changing color and trend changing direction earlier in the chart.
Reply
Ichimoku_Trader BrokeTrader
thanks
Reply
NeoRa Ichimoku_Trader
Hi Ichi, on the snapshot provided I see you indicated two points which are point 1 (Bullish direction) and point 2 ( Bearish Direction). Lets assume that the market reversed at point 1, would you take a long position even though the CS was inside the cloud?
Reply
Hi

I am sorry but i do not know what the 2 points you are referring to are so please clarify
Reply
NeoRa Ichimoku_Trader
I am reffering to "1 and 2" indicated on the chart,where you drawn the up and down arrows
Reply
yes off course

The main assumption for this trade is that the market will continue in its original direction
So I will take 1 as soon as i see any bullish sign (even a small green candle)
Reply
NeoRa Ichimoku_Trader
Ok thank you very much Ichi.
Reply
My pleasure
Reply
Thanks for the heads up on NFP news.. Made some profit on it..Thanks
Reply
Ichimoku_Trader IshanTripathi
very good
that's why we are here
Reply
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