I’ve used The Ichimoku Cloud way back in the day, purely on the 4 hour/daily charts, and it was very profitable.
I then dug this strategy out of the closet for a few friends recently, as they were nagging me to teach them to trade, and its been very profitable for them as well.
Its nothing extraordinary, I believe its called The Ichimoku Cloud Breakout.
This is a good one for beginners.
- Use the 4 hour chart (for beginners).
- Use the Ichimoku Kinko Hyo indicator.
- Remove the Tenkan Sen and Kijun Sen elements.
- You should now have a chart with the Chikou Span and Ichimoku Cloud.
- Wait for the Chikou Span to pierce the cloud completely and enter the trade.
- If an uptrend it will be above price, if a downtrend it will be below price.
- Work out your own support and resistance to maximise profits, don’t rely on the cloud.
Entering somewhere towards the red arrows. Use your own position sizing and stop loss according to your risk.