Ichomoku Wave prediction
Updated
Ichimoku 'Wave', starting to form a nice trade entry into a long position, as I'll be away from the screen I'm posting now. Our target is a 'N' wave calculation. (of note, trading this pair I have found the Ichimoku 'N' wave to be the most frequent hitting target.
How I trade this set-up
Conservative - Await for price to break the 'B' leg (109.640) and set your stop on the 'C' Leg (109.472). If price drops below 'C' leg trade set-up becomes invalid. (My trading style)
Our target is 110.193.
When price hits a projected wave target look at price action and see how price is re-acting to that level. The five lines of Ichimoku will help.
Any conversation around this Ichimoku set-up is greatly welcomed. Please note there is no time frame as to when price hit's these levels, my last trade, took three days to hit my target. Potential Trade stay valid whilst price fluctuates between B - C 'I' Wave.
Good Luck ;)
How I trade this set-up
Conservative - Await for price to break the 'B' leg (109.640) and set your stop on the 'C' Leg (109.472). If price drops below 'C' leg trade set-up becomes invalid. (My trading style)
Our target is 110.193.
When price hits a projected wave target look at price action and see how price is re-acting to that level. The five lines of Ichimoku will help.
Any conversation around this Ichimoku set-up is greatly welcomed. Please note there is no time frame as to when price hit's these levels, my last trade, took three days to hit my target. Potential Trade stay valid whilst price fluctuates between B - C 'I' Wave.
Good Luck ;)
Trade active
Now that our trade is active. Please manage your stops, price has the potential to retract to the top of the Kumo then continue to the up-trend. If this happens our target still stands.Best of luck ;)
Trade active
Due to not being able to watch it all night to adjust I've added some support levels taken from higher time frames and 2nd/3rd targets as the 'N' wave I created may have been a bit premature (due to not being able to watch the market closely today).Note I'm still active in this trade and adjusted my stop accordingly to allow price to drop below the 'C' leg.
Price has hit the top of the Kumo like predicted and seems some more Bullish traders have ambushed the bears pushing price up.
Bedtime now. Best of luck everyone ;)
Trade active
So the trade set-up is still going.It seems like stated before the Kumo was a happy place for bullish traders to get into the market pushing price up. Bears since then have had a hard time taking back control.
Every new day needs a health check on our trade, attached below is the 4Hr time frame which until today has been a nemesis for this trade set-up maybe not succeeding.
Now we have a nice price break through Tenkan Sen, which is a positive for our prediction target. (Ichimoku - price uses the five lines as support/resistance).
Note
Just for your knowledge, small wave formed in B - C leg ('I' wave). Note
please note I have adjusted the wave calculation, however those who traded on my first analysis are further in the clear in regards to risk.Our target still stands, just be mindful of the above plotted levels.
Good Luck ;)
Note
Trying to keep everyone updated on what I'm looking at. The 4Hr chart has a possible Kijun Cross (strong bearish signal). Please adjust your stops appropriately. Trade closed: target reached
I always hate that last bit haha but we have reached our target for a 553 pip profit. there is a second target which I'm currently in on the second 'N' wave I created but this trade lot is finished.Hope you enjoyed the journey
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