Traders no matter what system or indicator you are using, price action is King! I am a huge Ichimoku trader and find it very reliable but still you have to listen to what the market is telling you. Looking at the chart above I'll show you how the Ichimoku system said one thing and price action…Continue
This is a repeat of a previous post I made but since I always show Ichimoku trades I wanted to keep traders informed and show what to look at with Ichimoku.
Ichimoku in Japanese means, "at one glance", Kinko means, "equilibrium" and Hyo means chart. For the untrained eye that doesn't know what to look for from the system the Ichimoku Kinko hyo looks like a bunch of cluttered lines. But for the Ichimoku technician it looks like a picturesque of beauty. What does the trained I see that…Continue
Added by ChaosTrader63 on November 21, 2011 at 11:22am — No Comments
Being that tomorrow is Friday in which a day I don't like to trade or rather enter longer term trades I will still proceed as normal.
Looking at the chart above which features the NZDJPY on…Continue
Added by ChaosTrader63 on November 18, 2011 at 2:13am — No Comments
Traders today I opened a long trade in the USDCHF on the 4 hour time frame. Since I'm trading the 4 hour time frame I like to get my market sentiment from the daily time frame which is the chart above. now looking at the chart from an Ichimoku perspective the sentiment of the pair is bullish with…Continue
Traders a few days ago in my blog I showed the outlook for the EURUSD. Well we wanted to see if price would honor one of the levels mentioned and then move upwards. Well price on the Daily time frame has honored the support level of the Kijun which is also a 50% fibonacci retracement level. From the…Continue
Ok traders here’s my analysis of the EURUSD for 11/2/11. With so much major news coming out on Wednesday 11/2/11 for both pairs it really doesn’t make much sense to do any type of analysis because things can change depending on the results of the news. The major news for the EUR will be…Continue