Journal de IchiMohu

[IchiMohu]

Bonjour
Je m'excuse d'avance d'avoir écrit en anglais, sachant qu'il s'agit d'une communauté française, malheureusement je ne parle pas français.

In this post I will share my thoughts and analysis of Fx market
I mainly use Ichimoku to analyse my charts, starting with the larger TFs to the smaller ones, while executing according to the smaller TFs with larger ones' direction
I use different setting than the original.


Feel free to share, discuss or ask at anytime.

[DonTony]

Welcome to you Ichimohu,

Hoping to read you soon.

Tony

[Cypressat]

hello if you use differnt s settings than the original you see levels taht on ly you see, that's not a problem ?

[IchiMohu]

Welcome to you Ichimohu,

Hoping to read you soon.

Tony

Thanks Tony, this week hopefully.

[IchiMohu]

hello if you use differnt s settings than the original you see levels taht on ly you see, that's not a problem ?

Hello Cypressat, if you're concerned about that analyzing a chart with diff setting, would show a diff levels that's true
but Ichimoku is basically a punch of moving averages, some of its components with a special characteristics e.g. shifting value.
So the power of those levels will still hold according to the importance of the input setting.
It's not a problem at all, as long it's goes with your trading style.

And ofc I will post my charts with every opportunity I see.

[IchiMohu]

AUDUSD

On 1W TF, started to trade inside the cloud above weekly Supp @ 0.6847 with the price make HH & HL, price trading @ the higher / middle ranges of current wave range and at downtrend level!
- So 1W shows possibility of bullish corrective wave, if we could break the downtrend, reaching up to 0.6982.

On 1D TF, started to trade out of the cloud with bullish setup/channel confirmed by HH & HL, the price @ 1D Resis 0.6879, but there's a Double-top pattern under development at the Resis level!
- So 1D might have a continuation of the bullish wave targeting 0.7010 areas, as long as the Double-top pattern fails to form properly, or if the bullish setup hold after reaching Double-top pattern target @ 0.6760

On the 4H TF, Double tops pattern comes clear as the price rejected from 2 Resis @ 0.691/0.692 levels. price started to trade inside the cloud between 2 pivotal levels 0.687 & 0.684. Usually in similar pattern the price tend to test the SSB and from there go back to its direction.
- So on 4H we might see a retest to 0.6847 level followed by a continuation of the bullish wave targeting 0.6930.

On the 1H TF, price broke the cloud with the CS, it has a similar pivotal points as the 4H targeting 0.6845 and started to make LH & LL.


Possible trades
Start with short term short targeting 0.6845, with SL above 0.688
Long for the Constitution of bullish wave targeting 0.693/0.7010 with SL below 0.6795.

Fichiers joints

[IchiMohu]

AUDUSD

On 1W TF, started to trade inside the cloud above weekly Supp @ 0.6847 with the price make HH & HL, price trading @ the higher / middle ranges of current wave range and at downtrend level!
- So 1W shows possibility of bullish corrective wave, if we could break the downtrend, reaching up to 0.6982.

On 1D TF, started to trade out of the cloud with bullish setup/channel confirmed by HH & HL, the price @ 1D Resis 0.6879, but there's a Double-top pattern under development at the Resis level!
- So 1D might have a continuation of the bullish wave targeting 0.7010 areas, as long as the Double-top pattern fails to form properly, or if the bullish setup hold after reaching Double-top pattern target @ 0.6760

On the 4H TF, Double tops pattern comes clear as the price rejected from 2 Resis @ 0.691/0.692 levels. price started to trade inside the cloud between 2 pivotal levels 0.687 & 0.684. Usually in similar pattern the price tend to test the SSB and from there go back to its direction.
- So on 4H we might see a retest to 0.6847 level followed by a continuation of the bullish wave targeting 0.6930.

On the 1H TF, price broke the cloud with the CS, it has a similar pivotal points as the 4H targeting 0.6845 and started to make LH & LL.


Possible trades
Start with short term short targeting 0.6845, with SL above 0.688
Long for the Constitution of bullish wave targeting 0.693/0.7010 with SL below 0.6795.

1st trade hit TP +20pips, +0.8%.
Price at the level for the second trade, execution once 15M & 5M shows reversal signs.

Fichiers joints

[lehutin]

In this analysis,do you use different settings than the originals(9,26,52) ?Which ones?

[lehutin]

Reversal signs are present on 5 and 15 m TF
I understand that it could be possible to enter a long position at 0,6850,with SL-0,6795(under the sub daily) and a first level of take profit at 0,6940.
In these conditions,the RR ratio will be 90/55=1,64

In your opinion,would it be possible to reduce the stop loss level to 0,6840 to increase the RR ratio?

At the moment I'm writing,prices are beeing rejected by the tenkan sen on 15m TF and return to south

[IchiMohu]

Reversal signs are present on 5 and 15 m TF
I understand that it could be possible to enter a long position at 0,6850,with SL-0,6795(under the sub daily) and a first level of take profit at 0,6940.
In these conditions,the RR ratio will be 90/55=1,64

In your opinion,would it be possible to reduce the stop loss level to 0,6840 to increase the RR ratio?

At the moment I'm writing,prices are beeing rejected by the tenkan sen on 15m TF and return to south

Regarding your first question I use diff setting, along with the original one.

For RR, it's not always having a higher ratio is a good thing
looking for a high RR is just a compensatory mechanism for a system with a low W/L ratio, since RR might effect W/L ratio negatively.

For this specific trade, we are targeting a major level at the daily chart, so it's better to set your SL according to the daily chart as well.
If the trade made it to 0.69/0.70 levels than we are facing a major correction, at that time moving the TP would be appropriate to increase RR
but for the time being it's better to give the price some room.

I will take my longs @ 0.6843, but keep in mind that 0.6837/0.6828 might come before the bullish wave would start.