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Hoop, when (if!) you do this, it would be good to start your chart at the beginning of 2004. Then we can directly compare the Ichimoku plots of this uptrend with those of the last one.
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Originally Posted by kizame
Hoop,perhaps you could explain what all the colour coded lines are on your chart,I am presuming the red thin line is the nzx50? Much abliged.
Hi Kizame
nah..the red thin line is the kijun-sen
......the blue line is the tenkan-sen
these are momentum indicators...basically speaking a buy signal is produced when the tenkan-sen line crosses over above the Kijun-sen line a especially strong buy signal if the cross happens above the kumo (cloud) and vice versa.
The kumo (shaded area) boundary lines called Senkou Span A (red) and Senkou Span B (green)
Note that the Kumo extends into November 2009. At the top of the chart you will see (9, 26, 52) these figures are the periods used in the calculations. The kumo extend 26 periods into the future. Each day is a period except Sunday..so 6 periods = 1 week ..26 periods = 4weeks 2 days.
......the individual green line is the chikou span. This is used as an trend indicator. with reference to the NZX50 chart the index trend is deemed upward when the chikou span is located above the closing price and vice versa. You watch the chikou span to cross below the closing figure as a signal that the index trend is weakening.
The NZX50 index line is the bolder red/black line (black rising / red falling).
Yeah I know rather hard to distinguish those lines ..maybe Stockchart.com may do something about it in the future.
Kizame my Ichimoku knowledge is limited to what i use it for ..so very basic.
I suggest if you are interested to increase your knowledge further about this "Japanese one stop shop TA system", you get in contact with Peat or Arco who do trading using this system (see ST forex--IchiMoku magic thread). I'm sure they will answer your questions if you ask nicely .
There is plenty of literature around ...just google.
PS...yes.. I had to look up the names to spell them properly for this post:o
Last edited by Hoop; 10-10-2009 at 07:47 PM.
Reason: wrong spelling......... Changed Chikon to Chikou
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Thanks Hoop,the thin green line(chikon span)seems to give a nice indication of a trend change when it crosses the index line,it also forms double bottoms and tops with the index,so very interesting.
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Thanks Phaedrus
Hi,
Firstly thanks Phaedrus for all your posts. I believe in the TA approach you set out.
My answer to your question 6 is yes.
I use Supercharts in DB, Incredible Charts and Yahoo and OBV RSI etc
I dont know yet how to copy my charts into ST posts.
I am interested in entry point filters - how to find the stocks each day or week etc from the NZX50, ASX50 etc that have entered into an uptend ....
rgds
PS: Thanks also to all of the other ST chart posters eg Hoop - Absolute Advance ...
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Last edited by Hoop; 10-10-2009 at 07:59 PM.
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Theres a whole thread devoted to the IchiMoku in the forex forum and I recently posted a methodology for trading with it that I stole from the Currency Trader Magazine. of a year or so ago.
see this link for details
http://homepages.ihug.co.nz/~peat/th...ts_webpage.htm
Last edited by peat; 10-10-2009 at 11:46 PM.
For clarity, nothing I say is advice....
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Originally Posted by peat
Thxs Peat...much appreciated
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Originally Posted by belgarion
Phaedrus ... if this behaviour is occuring continuously and with the surges being related to macro events... would this help explain the spooky correllation to the past?
Ah, but Belg, as a mature TA exponent, I don't feel the need to offer any explanation. For me, it is enough to simply observe and perhaps utilise such interesting phenomena.
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Junior Member
Nudging...
Just in case some of you haven't been watching, NZSX is nudging the 3250 level (3 red ??? on Phaedrus' chart) about 3 weeks earlier than predicted.
I'm thinking about considering panicking...
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