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Ichimokuforex

AUD/USD Short Trade IdeaWe saw an attempt by the aussie to break higher up , but was rejected pretty firmly. We ended last week being within the cloud, showing that price is ranging. USD has been showing some strength again and I am waiting for a drop below the kumo for a possible short entry. I am looking for a break of resitance (shown by the blue horizontal line I drew) so I can enter. I'll look for a TP at the bottom of the last bearish run. I will need to see a kumo twist complete to bearish, and the break of the horizontal line to confirm when to enter.
Short
by The808Trader
1
EUR/CHF Long IdeaInto the cloud we went last week indicating that this pair is ranging between trends. This is an ideal opportunity to possibly get into a new trend, should one form this week. Right now all signs point to bullish, but kijun is getting pretty close to tenken. As long as our bullish confirmations remain I expect price to move a little sideways here. I am looking for price to eventually have a bullish breakout from the cloud which will possibly be a good time for me to enter. I'll keep my stop loss pretty short on this one. If I see any of the following signs, this trade will become invalidated for me and I will not enter. 1. If we maintain a bearish TK cross 2. If chikou span falls below price 3. If we get a kumo twist back to a bearish cloud
Long
by The808Trader
EUR/GBP Long Trade IdeaI am looking for a trend continuation trade on this pair. We've been on a nice bullish run here, and I am looking to enter if that trend can break resistance around .8993 If we can break that level then it should start acting as support for further bullish movement. I may also enter off a tenken sen bounce, but I tend to like resistance level broken trades since it shows strength. I've targeted a level of strong support/resistance as my first TP. If this breaks I may aim as high as .9200 if my bullish signs hold.
Long
by The808Trader
Should You Buy or Sell? How to Tell in 60 Seconds!You can try this right now. This works on any timeframe with any deeply liquid market. All major and Yen-cross currency pairs, stocks, bonds, futures, etc. Let Ichimoku Kinko Hyo lead the way! Try this yourself right now. Always Start with the Cloud 1. Open a EURUSD 4-Hour Chart. 2. Click Indicators. Search for the Ichimoku Cloud indicator, and add it to your chart. 3. Look at current price. 4. If price is ABOVE the CLOUD, this indicates BULLISH momentum. You should be looking for opportunities to BUY. 5. If price is BELOW the CLOUD, this indicates BEARISH momentum. You should be looking for opportunities to SELL. CAUTION: Never execute any trade based solely in any single data point. However, using Ichimoku Kinko Hyo as a momentum filter has been proven highly reliable in over 70 years of trading in real markets. Ichimoku gives you an accurate, real-time, objective, data-driven method to determine whether you should be looking to buy or sell an instrument on your chosen time frame. Once you learn the full Ichimoku system, you can use it to enter and exit real trades with high probability of continuation. Why This Works The Efficient Markets Hypothesis (EMH) has not been proven wrong. This means that the price you see on any chart for any given instrument is the 'correct' price at that moment. Modern markets are highly efficient. All available information, all order flow from every corner of the world in any liquidity pool is automatically priced-in by the market participants. This means that there is zero chance that a trader will ever be able to 'out-research' or out-algo' the market at large. This means that there is no edge to be had by trying to predict when a market is 'overbought' - priced too high, or 'oversold' - priced too low. There is no 'overbought' or 'oversold' condition that can exist in real time, i.e.; There is no way to arbitrage price differentials across markets. The Edge However, what is also true about the EMH is that it does not account for a very real phenomenon observed in all open markets. That phenomenon is called 'Momentum.' Momentum is sometimes defined as a sustained rate of change in price, in a specified direction (up or down), over a specified period of time. Trends cannot exist without Momentum. Trend is really another term for Momentum, a series of higher highs and higher lows over a specified period of time. Volatility is also a component of momentum, in that Volatility is the magnitude of price change over a specified period of time. The EMH has never been able to account for the phenomenon of Momentum. What is objectively true, and what has been measured scientifically for decades now, is that Momentum is very real. Momentum seems to reflect the natural tendency in organic multi-factor systems for the actions and reactions of the constituent members of the system to compound over time. The effect of this compounding factor is that one observes periods in markets when price seems to drum along quietly without any real change, then price moves higher or falls lower, and sustains this vector of movement in linear waves over time. This phenomenon of momentum exhibits in fractal manner on all time frames, in all open and free markets. Even liquidity pools that are only open to high-frequency algorithmic systems for order execution and clearing, where no human beings are involved in any way when trades are executed, exhibit the same phenomenon of Momentum. An Ichimoku view of a Hi-Freq millisecond chart looks the same as a 4-hour chart, or a Daily chart, in that the wave forms look similar. This fact likely means that no matter how sophisticated a trading system becomes, no matter how much data can be analyzed in nanoseconds of time, no matter how fast adaptive self-morphic AI neural net systems become, none shall be able to surmount the temporal barricade of uncertainty to predict the future.
by mbauerfx
GBP/CHF Ichimoku short IdeaThis pair has been in the cloud, which indicates that it is ranging between strong price trends. We are staying below kijun and tenken and chikou span has been hanging out below price. We got rejcted at the bottom of the cloud, which is flat, indicating a strong level of support/resistance. If we can break that level we could be in store for a good short run. I've marked out where I will be placing my stop and my targets if that level is broken. This pair will definitely be on my radar this week.
Short
by The808Trader
2
Bullish Bias Remains As EurUsd Closes Above Multi Year RangeThe weekly close was higher than previous weeks close and it confirms the bullish bias for this pair, as it seems to be breaking out of a multi year range. I have drawn Pitchfork to highlight when price steps into overbought territory and moves above the upper band. This territory increases risks of taking longs on higher timeframe. On lower timeframe longs are still preferred on pullbacks, using daily, H4 or H1 timeframes. Looks for pullbacks toward the daily and weekly pivot points, wait for support to hold and get long, aiming for R1 or R2 on each timeframe. Since price closed below the weekly R1 we might see some exhaustion or indecision at this point, which is quite normal when price steps into new territory. I still think Monthly R3 is within reach before the end of the month, on monday, the last trading day of July, else observe the new monthly PP for august as it arrives (and R1,R2,R3) to adjust the targets for your positions. Resistance on Weekly Timeframe: Monthly R3 / Upper Pitchfork band: 1.1861 38,2 FIB of large 2014-17 Swing: 1.1738 Support on weekly tf: 1.1712 (previous high) Monthly R2 1.1653 Resistance on Monthly timeframe: Lower Kumo Cloud on Monthly tf: 1.2020 Yearly R2: 1.2092 50% FIB retracemnt of swing May 2014- Jan 2017: 1.2169
Long
by CapMoore
EUR/GBP Trade IdeaWhile I am mostly an Ichimoku system trader it would be foolish to ignore price action and structure. Currently I am watching a bullish price structure continue as we've hit the third wave of price movement. It is possible that we may be forming a new overall bullish trend in ichimoku. I am looking for a kumo breakout, bullish future kumo twist, chikou span to stay above price and free, and finally the stochastic to curl upwards to show a shift to buying momentum
Long
by The808Trader