ChaosTrader63's Blog – June 2011 Archive (7)

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EURUSD Ichimoku Outlook 6-30-11



The EURUSD has completed another day with a bullish candle making that bullish for the past 4 days. The overall sentiment on the daily is bullish with price being above the Kumo. Again I would be cautious about any long positions based off the fact that the Tenkan is below the Kijun which is bearish…

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Added by ChaosTrader63 on June 30, 2011 at 8:55pm — 3 Comments

EURUSD Outlook 6-29-11



The EURUSD overall sediment is bullish with the price above the Kumo and the Chikou above price after three consecutive bullish days. Still that doesn’t confirm strong support for long positions. The resistance level from the Kumo flat top at 1.4454 needs to be broken. The pair is unstable with…

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Added by ChaosTrader63 on June 30, 2011 at 2:10am — No Comments

Trading with the Ichimoku system: The TK Cross

Earlier I discussed the components that make up the Ichimoku system and now I would like to discuss how to use those components to start trading the system. I will give the basic signals and the most basic analysis for the setups. If you do not know the components please go back and read the blog post,

“Ichimoku Components”

Ok lets get started! The very first thing that you will want to know before trading is the sentiment of the market. We can know that with just one glance at…

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Added by ChaosTrader63 on June 29, 2011 at 8:46pm — No Comments

EURAUD Kumo Breakout Trade 6-27-11

Alright traders were starting the week off on the right foot. Last week I had mentioned that the EURAUD could be a good trade once it gets to the Kumo. Well that time has come and I entered a long trade based on a Kumo Breakout. If you look at the above pic you will see that I have marked the main…

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Added by ChaosTrader63 on June 27, 2011 at 3:19pm — No Comments

EURUSD Analysis for week of 6-26-11

The EURUSD ended the week with 3 consecutive bearish days dropping roughly 214 pips within that span. Looking at the daily chart we see that the pair has been in an uptrend since Jan 10th of this year. It looks like the overall trend is losing momentum as the Kumo has flattened out with price…

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Added by ChaosTrader63 on June 25, 2011 at 9:06pm — No Comments

USDCAD Ichimoku Trade 6-24-11

Traders here's a trade that I entered today on the USDCAD Hrly time frame. Normally I don't like to trade on Fridays but I took this one. The market sentiment was Bullish on the Daily, 4 hour and the hourly. We had a TK Cross back in the cloud. Price broke the cloud and then retraced. The market stayed within the retracement level and formed a resistance area. Everything was bullish and once Chikou Span broke above the resistance level I entered the trade. Profit target is next resistance…

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Added by ChaosTrader63 on June 24, 2011 at 5:55pm — No Comments

Learning the Ichimoku Components

 

For my first post I figured I better go over the components that make up the Ichimoku system since I trade it very often and will be speaking of most trades concerning Ichimoku here on this blog.

Ichimoku kinko hyo, the full name of the system translates into “one glance equilibrium chart” Most traders look at a chart with the Ichimoku system on it and say that it looks very busy and hard to understand. At times it may look busy but once you know the system and what to look…

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Added by ChaosTrader63 on June 24, 2011 at 12:44am — No Comments

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