Starting this week, I will be publishing a new chart for this currency on a daily basis (unless the market does not change). So please remember that this chart is usually valid for 1 single day (most of the time). I therefore urge you to look for the latest charts
Good luck
Comment
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Please check the updated trade
Comments
yup
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I too see the same scenario playing out based on different analysis. But in an effort to understand the cloud I want to ask why that zone was chosen. Below the cloud and it crossed over so def bearish also below the KS so looking for shorts. But why the pullback to that zone? Thanks in advance
Ichimoku_Trader
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Thank you. that's a very good question.
Usually, the market shows very high momentum after a bull trap. If that had been the case I would have probably wanted t sell a shallower retracement but since the momentum was not too high I am expecting a bearish range.
I hope that makes sense
Good luck
yup
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First, thank you for the reply.
second, it seems the market might be gapping down on todays open. Will that change the out look for the trade/zone? Or will you have to see the cloud react first before making that determination? Thanks again
Ichimoku_Trader
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Well, I rarely see significant gaps in forex (although they do happen).
If a gap occurs, I will have to evaluate it according to its size and the market's reaction to it
If it is significant, I will probably adapt accordingly
Good luck
kaysonchan
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Hi ichimoku trader, i will like to ask you whether you do multiple time frame analysis using your strategy? Example; if daily chart is above kumo, you only take long signal in 4HR chart? This is often quite confusing whether to follow or not to follow because ichimoku have a inbuilt future trend forecast in each individual timeframe....
Can i also say that you mostly take profit by setting target and not using a trailing stop like kijun-sen? I mean lets say your price entered your TP zone but then it retraced back to the kijun-sen but didt close below it and the kijun sen is quite far away from ur tp however it come back later and continue the trend... So what will you do?
Ichimoku_Trader
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Hi
No I don't do multiple TF analysis for trading because ichimoku already gives me that. I have to keep my trading decisions as simple and uncluttered with unnecessary information as possible.
I do analysis on multiple TF though when I want to understand the long term expectations for a pair. But this is not tradable.
As for taking profits, I usually don't completely leave a trade until the trade kicks me out but what I do at these target areas is take part of my profits and reload in the buying areas again. So I might always have at least 25% of my investment running.