Ichimoku Kinko Hyo

[Al Mo]

My apologies - I got tied up

Here is the current chart set up for USDCHF - I see short term Topping - this would be a good time to pull some profits off the table. Look for a drop of approx 100 pips

[Al Mo]

Temporary bottom came in on the Euro - at this point just waiting for the 1 HR chart to break through the Kumo, before the downtrend commences.

[cordite]

I've just started my own trading blog, using the IKH. It's really just my trading journal to ensure I'm sticking to my money management rules and not rushing in to trades.

I've just gone long on the EURCAD, so you'll be joining the story from there.

Comments welcome,

Cords IKH blog

[cordite]

Hey Al, thanks for the comment - you must be watching this thread like a hawk to have replied so quick!

I'm using a demo with the IKH at the moment, so happy to take some losses to enhance my learning. It's the most intuitive system I've found so far though, it really does make the price action a more visible beast!

[didjerdu]

Hey Cordy,
Say, how come you didn't pull the trigger on the euro/cad at about the 1.5045 level when it just pops out of the cloud? I'm just learning myself to use the IKH. Can you elaborate? I find it helpful to know where people's heads are when they take a trade. THanks.
D

[didjerdu]

Hey AL,
Thanks for sticking it out in this thread. I like to read your thoughts. Looks like USD/CHF has reached a double bottom temporarily and I expect a rise to the upside. I traded EUR/JPY today with some interesting results. It's like MR. Toads wild ride! So far short on USD/JPY and GBP/USD.

[cordite]

Hi there didjerdu,

I didn't enter the trade until the price was already above the cloud, as was waiting for a span reversal confirmation (which did come). The price has reached a holding level right now, with the Kijun Sen nice and flat after a small downtrend - hopefully signaling a stall in the price decline and the start of another up trend.

Once the Kumo reaches my entry point I'll reset my stop to a break even point, and then follow the Kumo upwards with my stop to lock in profits.

[Al Mo]

Cord -

I may have done you a disservice yesterday saying that the it appeared to be topping out at 1.5250 on your blog - the way I tend to trade IKH is once price breaks out of the Kumo, it wants to run to the previous Kumo roll - which in your case was 1.5250. What I didn't take into account was that the 4H chart was close enough to actually start its entry into the Kumo, thus continuing the trend.

Glad it worked out for you just the same


Diji,

I agree w/ you on the double bottom for USDCHF - I'm currently monitoring the EURUSD, and from an IKH standpoint, waiting to reshort it.


Gentlemen - as a side note, I have been actively reading and trading using TheRumpledOne's method over at the 'Never Lose Again ' thread as of last night....the results are very promising. I am not going to abandon the IKH thread, as we have seen, this is proven .