The trouble with Ichimoku is that by the time the trend is 'approved' by Ichi, it is often a tad too late, so doesn't bode well with trends that don't trend that much and the risk involved a tad too big for many.
Nonetheless, on euro 4H, divergence is building and momentum is waning.
4H Kumo flat top might attract.
You just have to stare at it enough to get it fully. For instance this is an obvious bear market. So any signal that was bullish i would ignore. However looking at your chart. There is not one time there was a bearish crossover that you couldnt have sold, put stop at break even and make it away with at least 10 pips. In that last bearish crossover you woulda had a heck of a ride. Just have to always use signals in the way of the trend and ignore those that go opposite.
You just have to stare at it enough to get it fully. For instance this is an obvious bear market. So any signal that was bullish i would ignore. However looking at your chart. There is not one time there was a bearish crossover that you couldnt have sold, put stop at break even and make it away with at least 10 pips. In that last bearish crossover you woulda had a heck of a ride. Just have to always use signals in the way of the trend and ignore those that go opposite.
With hindsight all is clear and easy. With the last down leg on 4H, when the price was just moving/developing, selling on a tenkan-kijun sen cross would mean big stops. And it's a waste of pippage to trade only certain legs especially on 1H and 4H. I like Ichi for a quick glance of sentiment but not for trade entry, but prefer other ways that get me better trades.
as far as gaps are concerned, the gap strategy says if you dont fill me in 1 or 2 or max 3 session then wait for another minimum 10 sessions to fill it up, so in this current session i suspect we will go down and on friday more down im eying 1.2770xx,
i might be totally wrong i just shared my gap theory and cut short is risk/money management is the "holy grail" of this business.
trade safe!
if bears are in play then today it should close under 2930, 5p.m. est
With hindsight all is clear and easy. With the last down leg on 4H, when the price was just moving/developing, selling on a tenkan-kijun sen cross would mean big stops. And it's a waste of pippage to trade only certain legs especially on 1H and 4H. I like Ichi for a quick glance of sentiment but not for trade entry, but prefer other ways that get me better trades.
very true,
monthly chart - kijun sen has been respected and rejected (unlike the past 3 years)- this could mean bear market has commenced its arrival.
One more thing - two consequent long legged dojis(hammers) followed by negation to the downside. Last time I saw such thing was on UJ weekly chart in 2008.
Let's just be honest and fair, this is not the best thing since sliced bread for trading, for that nothing can beat price action and market geometry which are both a lot more difficult to learn and put in practice. If you like trading with precision and tight stops, Ichi is not for you, but can be very useful as an easy glance of trends/sentiments.
monthly chart - kijun sen has been respected and rejected (unlike the past 3 years)- this could mean bear market has commenced its arrival.
One more thing - two consequent long legged dojis(hammers) followed by negation to the downside. Last time I saw such thing was on UJ weekly chart in 2008.
Patryk
The location of the formation is different and the location is the most important. In UJ that was at the top of a run, this one is sort of in the middle of nowhere near the low of the current leg. And, alas, the month is still young.
I personally would love it go down against the pound, for obvious reasons...
as far as gaps are concerned, the gap strategy says if you dont fill me in 1 or 2 or max 3 session then wait for another minimum 10 sessions to fill it up, so in this current session i suspect we will go down and on friday more down im eying 1.2770xx,
i might be totally wrong i just shared my gap theory and cut short is risk/money management is the "holy grail" of this business.
trade safe!
Friday is a trendy day. You may be completely right about this. I'm offering an alternative view, and most importantly, my preference! All the best!
(ps: You don't need to be expert to get the next 10 pips right..., 20 pips may be a little challenging)
A beautiful mind is much more important than a fat pocket.
I need someone to advise me either to bu or sell this pait
We do not provide specific trading advice such as entry, stop placement, trade size, profit target and the like. Rather we teach people how to use Technical Analysis, Fundamental analysis, etc. so they can learn how to look for higher probability trading opportunities.
What I can tell you is that the bias on the EURUSD pair after checking the Daily, 4 hour and the 1 hour charts is bearish. So a trader could be looking for selling opportunities if/when price takes out a previous low.
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Hi Robert - you mentioned that if this Friday' sconsumer confidence shows a downtick, it could spur huge EUR/USD uptick. I thought that it would spur the stock market downtick and inversely spur a USD uptick. Could you clarify again. Thanks.
Currently what makes people sell off big batches of dollars is any hint that the Fed could get more expansionist. The thinking is that the Fed is looking for excuses to do so, and any bad economic number just might be that excuse. It seems like somewhat paranoid thinking (the Fed actually has hardly changed policy a hair and isn't likely to turn on a dime) but sooner or later a major Fed easing may indeed come, so maybe it isn't totally paranoid.
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Originally Posted by Franosh
The trouble with Ichimoku is that by the time the trend is 'approved' by Ichi, it is often a tad too late, so doesn't bode well with trends that don't trend that much and the risk involved a tad too big for many.
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