4hour Ichimoku cloud analysis

GOR FX

Sergeant
Messages
183
The USD/CHF bounced off the upper edge of the cloud after a post rally consolidation and the up run is
on. May be seeing a reaction around the 1.9563 area in the near term.
usdchf ichimoku.JPG
The cable is on a continued bearish rally after being resisted around the 1.5267 region.
Two possibilities here: A bounce on the around the 1.5070 region may see it rise to the 1.5260 region.
If this area is broken, the next support is around the 1.5000 region, right at the lower edge of the cloud.
GBP USD moves.JPG
 

perryfx

Private, 1st Class
Messages
103
The USD/CHF bounced off the upper edge of the cloud after a post rally consolidation and the up run is
on. May be seeing a reaction around the 1.9563 area in the near term.
View attachment 8693
The cable is on a continued bearish rally after being resisted around the 1.5267 region.
Two possibilities here: A bounce on the around the 1.5070 region may see it rise to the 1.5260 region.
If this area is broken, the next support is around the 1.5000 region, right at the lower edge of the cloud.
View attachment 8695
Good analysis I am not ichimoku fan though .
 

brendyfx

Private, 1st Class
Messages
57
In my opinion Ichimoku is bit advanced. Need basics such as S&R levels, moving averages, etc. to get a clear idea of Ichimoku functionality. I agree with GOR that this is a nice tool if we can practiced this well. I am also studying this lovely tool at the moment.
 

Red Herring

Corporal
Messages
388
The USD/CHF bounced off the upper edge of the cloud after a post rally consolidation and the up run is
on. May be seeing a reaction around the 1.9563 area in the near term.
View attachment 8693
The cable is on a continued bearish rally after being resisted around the 1.5267 region.
Two possibilities here: A bounce on the around the 1.5070 region may see it rise to the 1.5260 region.
If this area is broken, the next support is around the 1.5000 region, right at the lower edge of the cloud.
View attachment 8695
How can I practice this? How can you say that :A bounce on the around the 1.5070 region may see it rise to the 1.5260 region!
 

GOR FX

Sergeant
Messages
183
In my opinion Ichimoku is bit advanced. Need basics such as S&R levels, moving averages, etc. to get a clear idea of Ichimoku functionality. I agree with GOR that this is a nice tool if we can practiced this well. I am also studying this lovely tool at the moment.
Hi Brendy, thanks for the Participation on this thread.
Contrary to the popular belief, the Ichimoku can be used at both basic and advanced level. I use the cloud alone although I am currently enrolled in Chris Capre's
Advanced Ichimoku class.
Since the Kumo cloud offers a dynamic S&R, basic of these must have sunk in prior to using the Ichimoku.
I have worked on the Ichimoku cloud for the past three years and have been back testing its functionality
back 20 years into history with the major pairs.
keep on learning the this tool and always check out the S&R levels in the past.
 

GOR FX

Sergeant
Messages
183
How can I practice this? How can you say that :A bounce on the around the 1.5070 region may see it rise to the 1.5260 region!
well Red Herring, Firstly thanks for visiting this thread.
I believe that simplicity is the key to successful trading.
A bounce around the 1.5070 region simply meant a bounce off the S/R region that had been previously set.( go back some months into history).
The cloud acts as a dynamic S/R and thus acts as a support area ( and the 1.5070 is inside the cloud too) from which price bounces off. The price bounced
off as predicted and short up to the 1.5260 ( acted as a resistance area a week before) area and missed the exact point by 4 pips only. but since S/R is a zone and not a number, I took profit at the formation of the shooting star/doji. which indicated a possible reversal.

I have been using the tool for the past three years right from when I started trading. Wanna learn?

Gor
 

GOR FX

Sergeant
Messages
183
Easy, in what way? how long have you've been using it?
Hi Fring why the frustration? I have been using it for the past three years and after all that time,
I can say that its quite easy to use. For advanced traders like me who don't mind 1 trade per week
its one of the best tools available.
 

Red Herring

Corporal
Messages
388
well Red Herring, Firstly thanks for visiting this thread.
I believe that simplicity is the key to successful trading.
A bounce around the 1.5070 region simply meant a bounce off the S/R region that had been previously set.( go back some months into history).
The cloud acts as a dynamic S/R and thus acts as a support area ( and the 1.5070 is inside the cloud too) from which price bounces off. The price bounced
off as predicted and short up to the 1.5260 ( acted as a resistance area a week before) area and missed the exact point by 4 pips only. but since S/R is a zone and not a number, I took profit at the formation of the shooting star/doji. which indicated a possible reversal.

I have been using the tool for the past three years right from when I started trading. Wanna learn?

Gor
Why not Gor? I am still to find/adopt with any technique!
 
Thread starter Similar threads Forum Replies Date
T General Forex Talk 2
Similar threads
MT4 on the Cloud
Top