A-B-C-D Trade - page 330
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Like the fib channel tool due to its flexibility. It can be applied in several different ways, and some of them are addressed here.
The HAMA_T3 is also excellent. The main theme is support and resistance. Momentum indicators can be used as triggers.
As far as the Ichimoku, when we use it, we remove the 3 moving averages. In its place, we use the HAMA_T3.
This Ichimoku uses 2 MA cross-over for entry. If price is above the cloud on a BUY, the probability is better. Below the cloud on a SELL is better.
The borders of the cloud acts as S&R. When the cloud is flat, many traders like it when price is close to the border. It allows for a tight stop-loss.
These are the general parameters in working with the Ichimoku. However, there are advanced techniques. Many trading clubs in Japan use advanced techniques.
As far as what you do after entry, to peg TP, S&R would play a vital role.
Attached is a daily chart on EUR/USD, with the Ichimoku and the HAMA_T3. We also made a fib channel plot (you can use the "Search This Thread" function for instructions and examples:
A = Oct 1st low 1.2804
B = Oct 17th high 1.3138
C = Nov 13th low 1.2659
In this example, BUY entry (1.3010) was made when price closed above the green (bullish) HAMA candle on Dec 11th. This was also just above the Ichimoku cloud and top trend line of the fib channel.
After price hurdled over the Dec 5th pivot high of 1.3126, we start to pay more attention to the fib channel's extension levels. The regular candles are well above the HAMA_T3.
The arrow points to the diagonal 100 channel level, which denote a 100% expansion. That is one take-profit (TP) option that gained about 275 net pips.
The maximum S/L was about 145 pips when placed just below the Dec 7th pivot low of 1.2875. Therefore, this was a 2:1 R/R. Obviously, a tighter S/L provided a better R/R.
This is where the cloud border can help. At day of entry, the top of the cloud was 1.2930. With allowance for cushion, this made the S/L approximately 70 pips. R/R would be 3.4:1.
There is a Signal EA for Ichimoku trading. Use at your own risk of course, and check testimonials, etc.
Lightning Ichimoku Forex Trading Signals, Expert Advisor (EA) | AsiaPacFinance - Trading Courses | Technical Analysis | Trading Strategies
Chart 1 4H Gold
Yellow trendlines bracket horizontal S&R band during December holiday period of congestion.
Sell entry at 2/8th MML. If S/L too tight, it would have triggered during this morning's 06:00 GMT period. Otherwise, SHORT trade is still active, and price has come back down to the lower side of the band.
Chart 2 1H Gold
FCT plot with SQ9(Price) StartPrice 1625.40 (Jan 4th Low)
Price met resistance near the SQ9 90-degree level of 1666.
After bouncing/stalling at the -50 mid-channel, it has made a hit to the -31.4.
This chart in itself was another set-up and trade. Or it can be used to supplement monitoring of aforementioned trade set-up and subsequent execution.
***
We can see how money management would make or break this trade. This is always an important component. Good money management can turn an otherwise "average" system into a profitable one.
so many indicators, Ichimoku is supposed to be used on its own, you have way too much on that chart.I think you have to work with only Ichimoku on chart to learn how to use the indicator properly.
We had said we are not Ichimoku experts. However, you missed the point that we exchanged the 2 moving averages with the HAMA_T3.
Pay attention next time, and stop advertising your small business web site here.
On-line meeting/presentation is now scheduled for Jan 28th 00:00 GMT:
Local start times in these countries:
Sunday Jan 27th
U.S. East Coast = 19:00
U.S. Mid-West = 18:00
U.S. West Coast = 16:00
Monday Jan 28th
Australia = 11:00
Tokyo = 09:00
Beijing, Singapore, Manila, Taipei, Hong Kong = 08:00
Europe Monday Jan 28th 00:00 - 01:00
Sorry, this area likely will have to access the video replay.
Hosted by The Los Angeles Forex Group, and attended by forex groups in Chicago and Australia.
Web-based meeting platform is anymeeting.com
This meeting will last about an hour. We will cover the family of SQ9 indicators (including murreymath1.0 and Gann_Box144), along with a technique that utilizes a similar concept.
Questions can be submitted and we'll attempt to answer them.
We will provide a link and other information as the date draws closer.
Thank you, and we trust this visual event will be of assistance.
- fxbaja
Here is a daily chart of GBP/USD, with 2 FCT plots, that produced an intersection at the mid-channel of both plots.
Blue FCT
A = Nov 1st high 1.61739
B = Nov 15th low 1.58222
C = Dec 19th high 1.63056
Orange FCT
A = Dec 7th low 1.60009
B = Jan 2nd high 1.63412
C = Jan 9th low 1.59916
Price converged at the -50 mid-channel during the Jan 10th period (1.61630), offering a SELL opportunity.
That level was also the horizontal 50% retrace of the Orange A-B (fibs not shown).
The mid-channel and 50% retrace level is significant in all of the various S&R methodologies.
Premise:
Plot retracement fibs on previous months high/low (diagonal trendline).
Next month, trade the 50% S&R (horizontal trendline with arrow).
Chart 1 = Feb - July 2012
Chart 2 = Aug 2012 - Jan 2013
Mar 2nd low is at 50% retrace of Feb low/high. This is a BUY opportunity.
Apr 5th low is at 50% of Mar low/high = BUY
May 13th low is 50% of Apr low/high = BUY
June 20th high is 50% of May high/low = SELL
June 28th low is 50% of June low/high = BUY
Aug 1st tried 50% of July low/high = BUY (Loss)
Oct 3rd low is 50% of Sept low/high = BUY
Nov 2nd tried 50% of Oct high/low = BUY (loss)
Dec 7th low is 50% of Nov high/low = BUY
Jan 3rd tried 50% of Dec low/high = BUY (loss)
The 3 losses had significant chop to price activity, instead of a smooth approach to the 50% level found in most of the wins.
USD/CHF revisit of Jan 4th high .9302 produced small bounce at U.S. open. However, another approach (current) should be rejected due to lack of steam in 2nd half of session.
Let's see how far the intra-day decline will go.
Attached is 30-min view with Gann_SQ9 and HAMA_T3.
Meanwhile, EUR/USD testing support at the top of its 4-hour HAMA_T3 zone. This is also the Dec 19th peak.
Next support level, where we anticipate to see some buy orders, is 1.3285.
Attached is 4-hour with FCT plot. The Point C BUY was at the 68.6% retrace level on Jan 4th.
The Jan 14th 04:00 period peak was near the Plot Line B resistance.
Subsequent decline hit the -31.4 during today's 12:00 period. This intersected the Dec 19th high (Point B).
This chart is GMT+2 for the benefit of those that were in a conversation we had about this pair at week's open.
We had a rather quick resolution to the outlook on USD/CHF. It was dragged upward by USD strength in EUR/USD decline.
EUR/USD now testing support at 1.3285. This area is also the 31.4% retrace level (1.3275) Jan 4th - 14th low/high.
Here's a daily chart on EUR/AUD, with Fib Channel Triangle and Standard Deviation Channel plots.
FCT (blue color):
A = Oct 7th high 1.28233
B = Nov 13th low 1.21575
C = Dec 27th high 1.28050
SDC (set on 2.00 deviation which only affects outer channel lines) orange color
Use Point A and Point C highs
******
The A-C were obvious plot points. Price declined off Point C and respected the mid channel of the SDC Jan 7th - 10th. Anticipating price arrival at the mid-channel is the objective. We can trade bounces off the mid-channel, or exit a position.
Price also made a precise hit to the blue FCT's -31.4 level. We can see that it pulled back from that level and closed the day at the SDC mid-channel.
The white trendlines:
We drew a trendline at A-C, and lowered it to meet the high of Oct 16th. This allowed us to view price with the same slope as established with the A-C peaks. The Jan 14th high met this trendline and bounced down to the current levels.
Another white trendline was positioned, with the same A-C slope, to the Sept 18th high. This sets up a possible support area forthcoming at approximately 1.25253, as labeled on chart.
Chart 2
Taking it another step, we can also align the fib channel tool to the SDC. That is done and in magenta color. The pair's price is right at this plot's mid-channel now.