To the seasoned traders out there , I use the Ichimoku 9 26 52 stripped to the cloud & kijun on the 1 hour entry via a cloud break with S&R zones marked on the 4hr chart.
I have reasonable success but find the signals few , maybe 1 every other day for around 20 to 30 pips.
Wonder if any of you guys use on lower timeframes or a different way to use the cloud for more signals as I would like to have a few more signals but dont fancy being whipped about in the noise.
The markets I look at are Oil , Cable , USD/JPY and Gold
Have you tried to trade rejections on the cloud?
I also have one strategy based on the Ichimoku, I trade both breakouts and rejections, as long as I have favorable conditions.
Also, may I ask why USD/JPY? The Ichimoku is an indicator that gives its best in trending markets. I wouldn’t say that USD/JPY is known for very strong trends (ranging in 600 pips after the flash at the beginning of the year, ranging in 1000 pips since 2017).
In addition, most strong movements on USD/JPY are due to news, which have very little to do with technical analysis and really can go both ways, whether you had a breakout or not.
Analyzing your past results, are you having better luck on the cable or USDJPY?
Thanks for the reply , found looking at fewer ,markets helped with concentration as looking at 28 pairs I went square eyed. I have a profit each month but never seemed to crack the lower time frames as seemed to have a terrible loss rate when using the cloud.
Would it be better to speed up or slow down the settings for a 15min chart ?
I trade H1 and M15 with the same settings.
It would help probably to refrain from trading early London sessions and overnight markets. Since the calculations of the Ichimoku take up to 52 candles, early London session will include all the flat candlesticks of overnight market, keeping the indicator close to the price and creating breakouts that are probably only due to an increment of volatility and not because of market direction.
What is your win rate , as read that the settings can be moved to increase , my trouble at the moment on the lower frames is constantly stopped out even with a wide stop. Drives me nuts place a order based on the rules ie cloud break set up cross Kiju to trigger the order and boom market turns and goes straight up to stop without looking back , hardly moves to profit if at all, this is on the 15min chart
We might just have different setups.
Win% is slightly below 45% for this 2019. I don’t have a fixed RR ratio for this strategy, but I try to be above 1:1.5 for each trade.
I’m based in the UK, but I travel a lot since I only need my laptop to work
Currently, I’m in Italy (spending Christmas holidays with my family), then Netherlands and then I will spend 6 months in Taiwan.
If you send me a PM, I can give you a link to enter a Facebook group. I have a course about Ichimoku trading, so, in the group, you will find other traders posting chart analysis or, anyway, asking about Ichimoku. The group is free, you don’t have to buy the course. You can post your charts there and get my opinion and other traders’ opinion
hi @Lang15, could you please explain some details about this strategy?? by you say, "cloud breake, you meain price should breake the cloud or cloud should breake the S/R area??