A great set up missed. I stepped away from the monitor and this trade set up. I posted it because it is an excellent example of this strategy and how it has morphed into a hybrid. The strategy combines the cross of the 7 ema with the Ichimoku Kumo Cloud and the Kijun line. The use of part of the Ichimoku charts was copied from The Ichimoku KISS Concept! - InformedTrades
The Kumo has eliminated the MACD.
For a long trade I want to see a cross above the 7 EMA, candlesticks above the Kijun line and the price action above the Kumo Cloud.
Ten minute chart.
Candle sticks crossed above 7 ema.
Above Kumo Cloud
Above Kijun
Current trade set up. Not triggered yet.
Hour time frame
Above Kumo Cloud
Not crossed 7ema, light blue, but will trigger when crosses.
Tenkan crossed Kijun.
12 pip winner!
I had adjusted the target and I’m glad I did. It has now retraced. Now it could well continue up but I’m glad I picked up 12 pips.
I have shifted one hour and 4 hour charts with better results. Note that along with the Ichimoki chart the 7ema is very useful. A cross below and then above. Then with the Ichimoku positive signs.
I would appreciate any comments on this method, include critical feedback. I study Chaos Trader 63 on youtube for the Ichimoku strategy and have added the 7 ema.
Price bars short on one hour time frame and below Kumo Cloud. I enter short on pullback still below Kumo. My target was within recent range. I like to see higher time frames consistent with lower time frames which I use for entry. The highest time frame that was short was the two hour, although the price bars were in the Kumo cloud.
