Ichimoku Kinko Hyo

[pakiestra]

guppie.jpg

IKH daily analysis doesn't look very promising for Guppie. As for now the upper margin of the cloud (Senoku Span A) serves as a last line of defence but is getting thinner. The first trench (Senoku Span A) at 208.37 (not much left then) until bottom of the cloud 206.28. If this fails -then she plungs into abyss. Lets hope that the cloud (which is up) will provide some support.
I don't have that amount of money available to feed fat cats at broker's office One will need a cover for at least another 300-400 pips.
Besides on candlestick two black crows are waiting for a third long mate.

[4xStar]

To see the thumbnail charts larger, right click on the image and choose Open in new tab or Open in new window from menu .. that will open a window with the larger chart.

BP attachments are not working properly at the moment ... this is a workaround

[HAUGHT007]

Pakiestra,
what are your settings on IKH? I used the default settings in MT4 and my senkou span A doesn't show hitting price on the daily like yours. In fact, it's still at 206.30 for today... Any ideas why they would be different?

[pakiestra]

Originally Posted by HAUGHT007

Pakiestra,
what are your settings on IKH? I used the default settings in MT4 and my senkou span A doesn't show hitting price on the daily like yours. In fact, it's still at 206.30 for today... Any ideas why they would be different?

On the daily IKH chart I used I was referring to the upper cloud margin (Senkou span A- I haven't changed any settings)-which on my MT4 is about 208.44 - which was easily hit today. Last candle's wick pierces the kumo but doesn't get to the lower cloud margin (Senkou span B) The level you'r mentioning (206.30) on my chart is the bottom of the cloud Senkou span B. Both Senkou lines are strong support plus the kumo itself is still up (thick as well). These levels now are good for to short it, stop-loss would be in the middle of the cloud (4 hrs chart) at 211.20. See what happens. I'm not an expert in clouds -I might be entirely wrong, or there is better system or Senkou lines are upside down. The best way is to ask Andrew when he comes back. All in all the idea of scalping Guppie longs is reserved for swollen accounts able to take the hit of hundreds pips down -its not for a faint hearted with micro-mini couple hundreds/even thousands hard earned greenbacks. I hope rrram will forgive me my ignorance. I can't see this working unless you have 6 digit account, resources to put in an emergency and you scalping micro pips only.

[HAUGHT007]

no, if we're on the same chart... i'm on the daily chart of gbp/jpy. Senkou Span A is at 206.32 and Senkou Span B is at 203.90. On the properties I can only set Tenkan-Sen: 9 Kijun-Sen: 26 Senkou Span B: 52. I guess everything else is non-changable. Does this sound right?

[Al Mo]

I found this great indicator, and thanks to Google, I found this thread.

I am going to post a few charts, hopefully it will stir up some other traders that are Ichimoku Kinko Hyo users. I should point out, that I only started using this when I found out that I could not use custom indicators on the mobile version of MT4. (And this was just a few days ago) I may end up using this exclusively.


Anyway - time for a chart - this one , the Euro for 09/24 - Hourly. Currently I'm short (Demo only...still testing this indicator) at 1.4627, TS of 15 pips, but I am actively monitoring this, so I may be in/out a few times on its way down.

[Al Mo]

Here is the GBPJPY - I had to go to daily for this one, as the hourly was unclear for me. 4h chart is roughly similar with its target, but since the daily has a few extra pips, I figured I'd post the daily.

No fancy tricks here - just observing where the previous crosses where, and looking for a flattening area in the Kumo for confirmation.

I just noticed that the text on the pictures are getting cropped - for this one, I had marked the expected target with the red horizontal line. I'll have to see what I can do about the text on future pictures.

[Al Mo]

Ok...so here's the current scenario

I got stopped out yesterday w + 7 pips(marked as 14627/14620 respectively)...unfortunately I went back in immediately and never looked to see what was going on. Currently at -97 pips, max drawdown overnight was -140(yikes! ) (Marked as 1.4767 on the chart) , and yes, I am still holding .

I could have avoided this had I just looked - there was a flattening occurring with the Kijun-Sen line just above. Whenever you see this happening, you have a warning that prices are reversing. Regardless, I will continue w/this trade as Ichimoku Kinko Hyo is a long term trading method.

Let's see what today has to offer

[Al Mo]

Not much to say here ....

The high continued higher - 197.18. Price as I type this note is at 196.26.

I'm thinking its time we start dropping down to a lower time frame and trading in the expected direction so that we can see some action. Who knows, maybe this can work into a short term method ?

[Al Mo]

Ok....dropped down to the 1 hr to find Support on the top line of the Kumo (Senkou Span A in this case). Went long at 196.29, with target of 196.66 based on the 15 min chart, using the Tenkan-Sen and Kijun-Sen previous crossing(s) as my target