Then I‘d guess posting outside urls has exceptions? I have coded Elliot Wave into my charts in a permanent dynamic way. The IKH with standard settings are kind of visible universally, thus may look quite similar to others. At that link, which isn’t mine, they have their own version of Ichi, which I rarely dissect as I do their EW.
Checkout this earlier post #29 pg3 in this thread (I have all pages saved for real quick reference otherwise how do you do forums at FF?), #41 pg5, #43 pg5, #62-3 pg7, #113pg12, …Basically people tested these timeframes and found a tradable edge of sorts. I have my own blend. Nice to see you here, hope we all gain. Could someone kindly over time see post #173?
1400GMT: Numerous overlaps on my trades, I almost jumped out twice. Still as is.
1800GMT; All remaining three open positions exited at net profit, having moved TP severally to try and maximize the gap. This is the part that makes it look like pure gambling? Have posted all progressive pictures to date, they are coded such that one is able to tell the most recent in the folder arranged somewhat alphabetically. The last g/y exit was most uncertain.
Results:
g/y = +110p net, 5.6%Bank, entry risk was R = 2%
e/y = +130p net, 13.5%Bank “ “ “ R = 4%
e/$ = +95p net, 4.4%Bank “ “ “ R = 2%
g/$ = -3p net, while murking around entries
$cad = -30p net, exited at = half®, “ ” ” R= 4%
There is something I am not quite sure. The support and resistance line are the Senkou lines. If the current price is below the cloud, the 1st resistance line will be the bottom Senkou line, and the 2nd resistance will be the upper Senkou line.
If the current price above the cloud, the 1st resistane line will be the upper Senkou line and the 2nd resistance will be the bottom Senkou line.
Is this understanding of S & R of Ichimoku trading system correct ?
The best understanding of s+r and price action can be found on the link below in these forums. My understanding of s+r is to pin them on price extremes, rounded off for easier view, and they are just some kind of ruler to measure progress, and seem to work however one chooses to hang them so long as one uses correct conventional methodology.
Wed 0600GMT. The trade prospects for today look like this.
E/$: Price on TS and KS H4, 1.38 having hit, looking down, Current wave (iii)’ going for 9-wave count. In the longer-run, looking bearish still. Looking to fall to below past extreme, to just below 1.3600. Short stop 1.3680, 1.3700, 1.3720 on London vol.; SL= 70p, 140p max; TP = 140p or open. R = 4%.
E/Y: Price consolidated around H4 TS, KS resistance, inside kumo level. Facing down toward C, break past here unlikely, would short on break. Wave ii correction of upward move, long on wave three. Stand back, short only at 120.80 on high London vol. Look to reenter long at best price.
$/Cad: On H4 Ks, tested s+r below, supported by KS and Kumo flatness, looking up only. Long on TS break, London vol. Longstop 1.0700, 1.0720, 1.0750; SL = 70p, 140p max; R = 2%; TP = 100p, 140p or open.
G/$: On TS looking down, KS slightly above, bounced off scalp, KS and acceleration channel trend-line – end of small (iv), looking at wave iii of (iii) past 1.5530. Shortstop 1.5640 1.5600 break of TS; SL = 70p, R = 4%; TP = 140p or open.
G/Y: Bounced off KS and scalp, end of correction of earlier dip, facing down. Might do another fast one. Watch to short on London vol. Shortstop 140.00; SL=70p, 140p max; R = 4%, TP = 140p or open.
13xxGMT London Rush: London breakout lacked volume, E/$, G/$, G/Y, and $/C ending consolidation waves to start last leg of shorter-term underlying trends. Moved entry-stops to better positions, G hit already. Weather forecast breezy till 1700.
I saw in some thread about “basket pairs move together”, i.e. once movement starts it happens to groups of these charts? This simplifies things in that one only has to do deep analysis on the G/$ pair and find a way to project it to other pairs.
I am not bound to any timeframe in my analysis, but I won’t go lower than H1. I read that in the thread of the link above that one ought to learn / analize higher timeframes first, then zoom in.
I keep loosing my internet, otherwise I would have exercised discretion at BE and jumped out, guess it’s a good thing. $C got stopped-out and lost me 3.x%bank. Waiting for the grey to clear, expect movement in profit direction on London breakout.
Fri_120210_0600GMT: The G pairs failed to establish strong direction in both of yesterday’s London session peaks - my open positions are under heavy uncertainty, making me think I made a wrong turn back there somewhere. Moved TP on e$, & bad management, lost 13%bank profits back, total exposure is 9.8%bank. I can afford up to 23%bank loss of profit I got most recently? Would any sane mind consider moving SL back even further like I did – such that SL = 200 - 200p max banking on the count being correct and raking the same in profit, count only failing after full retracement of current wave i’s. Net exposure could reach 25%.
I would give the full list of open positions, but a keen eye ought to see them off the pictures attached, for E$, G$, & GY.
Arguments for my positions are reflected in the IKH levels and Elliot Wave count on the three charts. The pairs have constricted into a tight spring – if on London volume prices start to take off in wrong direction, figure to jump out at point where present wave-count fails. Other trade coming up on EY & $C? Who’s in? I would have taken them on low risk if I had the EW count on them updated.
Has anyone backtested which pairs most closely conform to the basic ichimoku buy/sell/hold patterns? I can see the e/u pair seems to conform pretty well. Any others?
I’d think all pairs would relate to their own IKH in a tradable way on backtesting. I have backtested GY and G$ extensively H4 and D1 frames. The GY is the favorite for all systems since it has a wider daily range.
Last weeks choppiness caught me somewhat bad especially since in anticipation of major movement, I entered and exited both Gbp charts twice, and moved SL further for dumb reasons to catch even wider double-losses. I also exited profiting E$ on Monday! Down 18%Bank from last weeks open -. I’d attach pictures – but would those specific ones be worth much here? Let me know.
In good trend, H1 timeframe is of added benefit, but in last weeks situation, sticking to H4 would have faked me less?
Tue160210/1500GMT; EY longstop 123.00; R = 2%, SL = 120p – figured to dip one foot first, TSbreak, KSbreak, T-Kcross; earliest entry. Ill try to keep my voice down – no more calling aloud, sorry. Still chilling for Pound movement.
170210_13xxGMT: Added a bigger EY position, and new trades in E$ and $Cad. Waiting for G$ 20p to close above 1.5800 and GY above 143.70 for long, still figuring to short any decent reversal heavily.
Exited E$ at 1.3612 17xxGMT thinking its over, but I’m thinking to get back in light if it closes below 1.3590 but heavy if it bounces off the s+scalp. EY got stopped out by that wick (H4) wiping out 2 times what it had gained, down net 4%bank – messed up a good one? Will get back in above 124.50 close on London volume tomorrow. Missed the OB on G$, will get in on close below kumo.
180210_1000GMT; Eur is quite uncertain, but Gbp moves begun. Opened on GY and G$, but would jump out at BE if London Rush (1300) changes direction. $C still holding as was.
I’m also long EY, $Y looking pretty much better, I got stopped out once, and had to jump in and out twice in the last three days - $Y isn’t on my charts because I have $Aud and $Cad which are sparsely analyzed (no wonder I’ve been loosing some on Cad) and I haven’t gotten there yet, I’ll put it back up now, update it and trade it next week.
My ol’ banker local - quite impressed by now - & I have an agreement whereby I have to figure out the decimal thing on post #173 on this thread – I’ve edited it recently to put the question right – and no one promised to help see it clearer? Or at least how do you do it. Now it isn’t in order for a forexer of stature having to skirt the issue, kindergarten math, whenever it is raised even in front of a class on blackboard and fellow pros, and it is dealing in dollar money!
190210_145xGMT: Entered and exited twice on each pair during yesterdays London, Got stopped out yesterday 6%BankWeek-open by GY heavy-long (what was I thinking) yesterday London-Rush end, inverted position, exited R = -1%Bank on those wicks and I’m thru with waiting for it, tough love. Also got a G$ short heavy from yesterday doing 165p or so up 20.6%BankWo, 23%BankWeeklyLowest. I even jumped in and out and in on Cad, loosing minimal, so so. Will cut out the G$ now and leave the smaller EY and $C to stew over Mon & Tue slackness.
Total 19 trades this week, and I know, I’ve got to switch back from optical mouse. Need to minimize position sizes and exposure so as to stick in trades for longer term no-matter what and stop hitting small game. But at least I don’t ‘zoom-in-on-H1’ any more.
Do you think your decimal problem might have to do with what type of account you have? For example, if you have a mini account, then lots will be 1.0 for a mini, and not 0.1… 0.1 would be a micro lot on a mini account, and I suppose 0.01 is a nano lot…lol
