Ichimoku 'Wave', forming a nice trade entry into a short position. I have only calculated the 'N' wave. (of note, trading this pair I have found the Ichimoku 'N' wave to be the most frequent hitting target.
How I trade this set-up (this is my classic way of trading this set-up)
Conservative - Enter now as price has already pasted the 'B' leg (109.749) and set your stop on the 'C' Leg (110.080). If price drops above 'C' leg trade set-up becomes invalid.
Target is 'N' Wave - 109.000
When price hits a projected wave target look at price action and see how price is re-acting to that level. The five lines of Ichimoku will help.
Any conversation around this Ichimoku set-up is greatly welcomed. Please note there is no time frame as to when price hit's these levels, my last trade, took three days to hit my target. Potential Trade stays valid whilst price fluctuates between B - C ('I' Wave).
Good Luck ;)
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I'll be not around for a few hours, just if you're following, watch price action around the 109.400 - 109.500 as a smaller wave has presented itself and Bears have been in control for some time (referring to 4Hr chart).
Our target is still 109.000 but moving the stop down if Price action is showing reversals or the Ichimoku is (around this price). Usually I move it from the 'C' leg to the 'B' leg. Hopefully I'll be back before this happens.
Good Luck
交易結束：達到停損點
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Hopefully for those watching the market as it reached the 109.500 (like I stated above), saw the price retract at (109.564) forming a "Hammer" and moved their stop to the 'B' line or got out all together making a small profit/loss or break even.
The reason I'm closing the trade is I won't have time to watch the market closely today and its having a major battle.
If it does get another run, the 'N' wave target will stand.
Good Luck ;)
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交易進行
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They only thing I'm not liking is the horizontal KUMO.
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A reversal candle is starting to form, be wary. We may need to wait for a KUMO bounce or some other confirmation for this trade set-up to be valid (kijun cross).
Price has had a hard time breaking my ('B' - 'C') 'I' wave channel.
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OF NOTE - I never trade whilst the Chikou is tangled in the price.
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For those who were in this trade set-up, start moving our stop down to where you are feeling comfortable.
Ichimoku is starting to show changes. (our target is still 109.000)
交易結束：目標達成
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Well it was a battle and at times I wanted to say we close early but we stuck to our trading plan and it paid off.
So do you project those vertical lines with the ichimoku numbers? Is there an indicator for that?
I would appreciate if you can tell me
DoubleBomb
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@mksamanes, Hey mate,
It's the "Fib Time Zone" chart tool, once loaded on your screen go into it's settings and adjust the numbers to the Ichi number theory. Then once it's on the chart line up the "9" vertical line on the ninth candle and the rest of the lines will be in their correct places.
Do you think a kijun bounce is possible since the drop was caused by news event?
DoubleBomb
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@roelll, I've managed to find a small 'E' wave around the cloud which some Ichimoku wave traders may have taken and could be the reason for alot of price fluctuation we are seeing now. The colour overlay you see on the chart is my rough calculation for possible wave targets (the red being 'E').
If you know much about Ichimoku number theory I put this on the chart also, (although not gospel) are areas of price reversal. What I'm seeing at the moment is if I was solely a price action trader, there is a battle going on with corrective (BULL) and implusive (Bears).
The yellow lines on the chart show the corrective. I like to look at the market as a battle field.
So this is my opinion - the bulls are fighting back after being driven down extremely hard. However, their defense was to soon and could only hold for a small win (first yellow line). They were over powered again (Impulsive move).
They (BULL) with there remaining troops attacked again but seem this attack was futile (hence the second bull defense being only two candles, marked by second yellow line).
Sorry for the long analysis ;) it's sometimes hard to explain if our terminology is different.
To answer your question on the new event (hopefully haha), as being 99% technical trader, I use the rule of allowing the traders who trades around new events to have their time. Then re-assess if it had a overall affect to how the market is trending now. I looked to the 4Hr chart and saw we have been in a Bear trend since the 11/07 and the Kumo bounce was strong so I was happy to create this bear prediction (again, I go with the flow of the Ichimoku so things change and I'll try and update when I can).
So do you project those vertical lines with the ichimoku numbers? Is there an indicator for that?
I would appreciate if you can tell me