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On lower time-frames charts I occasionally use a modified Chikou line. Here for interest I have added it to the H1 chart. It also gave an additional warning signal. (Red circle/spot).
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Originally Posted by arco
Hello Ananda I mentioned a weakening showing in the charts a few days ago, but for actual real time entry the H1 time-frame gave various warning signals starting 23 hours prior (to the long black candle). (Chart attached). The 30M chart gave warnings about 27 hrs prior. 'A' denotes the candle where bearish Kumo kicked in. (It was already bearish on the 30m as you can see on the 2nd chart)
...quite tricky to understand the Ichimoku system with the necessary switching between time frames, but yes, I clearly remember thinking a couple of days ago, how early you mentioned a weakening of trading conditions in the market
Kind Regards
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Arco........Thanking you for your S&P 500 Ichimoku input...hope it continues.
I'm not sure whether I should be writing this post on this thread or the Ichimoku thread in the Forex section, but here goes...
Over the years I have occasionally observed some spooky results published by the media about Japanese day traders. Even some Japanese long term Investors predicting future outcomes have become uncannily true against contrary traditional methods. This is what got me looking into Ichimoku Kinko Hyo in the first place...(about the time of uncomfortable bearish feelings at the height of the August 2007 Bull market).... but I only obtained a basic understanding. Finding information of the finer working points is difficult, as is the lack of "available time" to study it more deeply.
However it amazes me how I always instinctively come back to my basic Ichimoku Kinko Hyo when I sense a change is in the air. What is the amazing part is I don't know why I do it as I'm not fully convinced it is superior over other systems.
Arco ...these working examples with explanations you have posted has helped me to understand more deeply the intricate workings of Ichimoku Kinko Hyo...thanks for that.
A question if you don't mind......Some Ichi traders combine other traditional TA tools into there Ichimoku models, such as Traditional Support/Resistance lines. Do you personally refer/combine traditional methods either consciously or otherwise when using Ichimoku Kinko Hyo?
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Short TF gave a good signal for 12+
Hoop
You can add whatever other techniques help you to find trades, but everything is covered with the system. Occasionally I might spot a H&S formation which I would consider along with the Ichi chart, etc. S&R can be defined using Chikou span (pivot) points, with Kumo giving another edge to S/R.
I'm always conscious of blocking Ananda's thread with off topic posts, so in respect of his flow it may be more suitable to direct your off topic questions to me on the Ichi thread over on FX
regards - arco
Last edited by arco; 23-10-2009 at 02:28 PM.
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Last edited by ananda77; 24-10-2009 at 05:27 AM.
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Up to +16 overnight using signals from 15m/30m TF.
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arco: please explain a bit more
...todays' action confirmed again a highly volatile market; reason:
-strength and liquidity still in positive territory
SPX 500 Hedge -data point 23 October 2009 (US Eastern Time)-
...although Invetrics went 'long', just could not follow the beat and stayed 'slight short tilt' (but not until loosing 4 ticks)
...guess the market will stay highly volatile until either the upside is resolved as a failed test of bear market resistance line *1122 or breaks down below *1067; in any case better ride a more neutral (slight short tilt) in the hedge
Kind Regards
Last edited by ananda77; 24-10-2009 at 09:34 AM.
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For clarity, nothing I say is advice....
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Originally Posted by ananda77
arco: please explain a bit more
Kind Regards
30m chart - Chikou Span breaks plot, tests plot ((S=R) and breaks through again on Dark Cloud Cover below 1095 potential resistance area with KS/TS forming crossed straight-line. Further confirmation with 2 elements crossed over and Evening Star pattern on 15m.
hope that helps
arco
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