I like Ichimoku a lot. But, I am still learning the nuances. I have 2 winners and one loser. The loser was soooo bad, I just had to laugh at first.
This first trade shows the orange part of the cloud is very flat, look towards the left halfway. This lined up with a resistance line. Price closed above that area, and I entered and won.
And now for the learning experience. Price was too far from the purple line. In ichimoku, this shows an overbought area. I will remember that next time.
Gold was in a range tonight, so I switched back to the Trading Axis charts to hunt down my winner for tonight. I found a nice resistance line. It stopped price dead in its tracks.
Hey Bo new chat is up also http://162.243.217.180/prochatrooms/ hit me up after you register and ill give you password to room, should have live streaming charts and audio in next week or two also.
Bryan Mcafee Hit me up on skype at Brymcafee (McAllen TX) www.tradingaxis.com
Hey Bo new chat is up also http://162.243.217.180/prochatrooms/ hit me up after you register and ill give you password to room, should have live streaming charts and audio in next week or two also.
Hello, bo_brown. Thanks for great journal. If you like BO trading with Ichimoku, try this: http://www.forexfactory.com/showthread.php?t=290062 - ichimoku-clouds Breakout indicators in 1 post. Maybe it can helps with your trading.
Hello, bo_brown. Thanks for great journal. If you like BO trading with Ichimoku, try this: http://www.forexfactory.com/showthread.php?t=290062 - ichimoku-clouds Breakout indicators in 1 post. Maybe it can helps with your trading.
Thanks for the link. I am with BryanMac's Ichi template on MT4. I like it a lot.
I found a nice trade this morning before work. I watched this one for a while, and it FINALLY fell through that red support line. I took a 30 minute option because I figured it would wiggle on the trend down. It did retrace back up, but then continued the downtrend and expired well below my strike price. Maybe I will pass $100 tomorrow!
I am sure you can see my psychotic money management. (or should I say mismanagement) I have a method to my madness. I will tame it down after I pass $100. Won't be long. Today, my first trade lost, but only because I took a 5 min option when I should have entered a 30 minute option instead. I like 30 min options with ichimoku, and 5 min options for trading axis reversals. I have a screenshot of the OTM, and a screenshot of where price went IF I had used a 30 minute option to prove my point.
In this second screenshot, you can see price dropping below where my "thumbs down" hand was placed earlier...... should have taken a 30 minute option....DO NOT TRADE UNTIL COFFEE KICKS IN !!!!
I would like to start off Friday with an observation. I was tempted to take a put option on gbp/usd on the 5m chart. Price dropped through the cloud, retraced, and dropped down again, breaking a support level. BUT, I like to see a similar move on the 15m chart. The 15m chart shows that price could not break through the cloud. If I would have taken a 30m put option off of the 5m chart, I would have lost. I have a screenshot of the 5m and 15m to show this.
bo_brown, can you share your rules for trading BO with Ichimoku? Thanks
rade
I like to look for support or resistance line breaks to enter a trade. I trade off of the 5 min charts. Before I place a trade, I check the 15 min chart, and make sure that price is on the same side of the cloud. Then, I place a trade that expires within 30 minutes. I found useful videos on Ichimoku on youtube from "StreetPips" channel.
Comments
The 3 signals of Ichi were giving me the green light.
This first trade shows the orange part of the cloud is very flat, look towards the left halfway. This lined up with a resistance line. Price closed above that area, and I entered and won.
I entered a little late after the lines crossed. Lucky the option expired above my entry price! I want to be good, not lucky...
Hit me up on skype at Brymcafee (McAllen TX)
www.tradingaxis.com
First up, here is a very nice ichimoku trade.
This was my second trade. I switched back to the Trading Axis system to trade within the range.
This trade, I thought I would have support at all of those lines. Price fell right on through. Whoops...
a thread with updates for it?
Today, my first trade lost, but only because I took a 5 min option when I should have entered a 30 minute option instead. I like 30 min options with ichimoku, and 5 min options for trading axis reversals.
I have a screenshot of the OTM, and a screenshot of where price went IF I had used a 30 minute option to prove my point.
In this second screenshot, you can see price dropping below where my "thumbs down" hand was placed earlier......
should have taken a 30 minute option....DO NOT TRADE UNTIL COFFEE KICKS IN !!!!
I did have an ITM today. This one went a lot better....
I like to see S/R lines broken with ichimoku confirmation.
I like to look for support or resistance line breaks to enter a trade. I trade off of the 5 min charts. Before I place a trade, I check the 15 min chart, and make sure that price is on the same side of the cloud. Then, I place a trade that expires within 30 minutes. I found useful videos on Ichimoku on youtube from "StreetPips" channel.
I do have an ITM from this morning to post with aud/jpy.