Quick question I have on this. Do you wait for the Chikou to pierce through the cloud resistance as well as the price or would you enter the trade as soon as price has pierced through the resistance? Thanks for taking time to share your knowledge, this is invaluable to us beginners
Is the current state of the financial markets impacting your decisions at all? Or is it just business as usual? Hitting TP’s quicker?
These are 2 different strategies in itself.
You can wait for the chikou span and the price to pierce the cloud and then enter.
Or, you can forget about the chikou span and wait for price to pierce the cloud and then enter.
Both work well, the first will give you less entries and less opportunities, or potentially later opportunities.
The second will give you a lot more opportunities and with the correct risk management in place a lot more ££££ overall.
I’ve never been one to sit and look at news or anything else going on. Its just business as usual for me.
Keep it simple.
I think that the cloud is a very good way to read the market,
I’m using the red line for trailing my stop loss, At the moment it works for me.
I’m glad for those results @The_Baller it’s always nice to see, but, your advices has taught me to look at long time frames, I think that until I have a lot of experience like you I’ll not try on smaller charts.
Yes, there are many ways to use the cloud. This is just one of them.
Nice and informative thread you got there.
Even though i know people who have been profitable with scalping for years already i have to agree that i think the longer time frames is where it is at.
I am now continually trying to pass over to swing trading.
What are your other trading strategies that you use other than the one son this account if i may ask?
Only the stuff mentioned on this thread.
what are some more pizza generating ichimoku strategies worth the time?
Back to the main account, closed a trade, or it closed itself should I say.
Total for today, £698.09.
Grand total so far, £16,711.12 - for now.
As of now, I only have 1 position open.
Having trouble reading EUR/USD. Which is more accurate EUR/USD down or up? Trending down until August 2019 and it appears to head up. I would assume long since it is the more current trend for the past few months and the monthly shows up for the past few years.
It’s a tricky one for now.
With the way things are going, technicals don’t always work when there is chaos in the market.
Having said that, the majority are short. I’d be with the minority and go long, at some point, not yet.
Thank you for keeping this thread alive and sharing your knowledge with us
I’d like to know where you check the positions of the majority or market sentiment.
I guess you use this tool in your analysis trying to take a contrarian bias of the majority?
Of course, you should have it now.
Correct. Use it to get an idea of the majority and then wait for a good entry in the direction of the minority.
thats the 1min chart??