Ichimoku Wave Prediction (Improved)
Updated
Ichimoku 'Wave', formed a nice trade entry into a long position. I created a wave pattern yesterday on the same chart but was a little premature. For those not currently in the last trade, the wave we have created today is a (stronger) valid wave.
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 (109.796) and set your stop on the 'C' Leg (109.429). If price drops below 'C' leg trade set-up becomes invalid. (My trading style)
Our target is 110.306.
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 a couple of days to hit my target. Potential Trade stays valid whilst price fluctuates between B - C 'I' Wave.
Good Luck ;)
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 (109.796) and set your stop on the 'C' Leg (109.429). If price drops below 'C' leg trade set-up becomes invalid. (My trading style)
Our target is 110.306.
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 a couple of days to hit my target. Potential Trade stays valid whilst price fluctuates between B - C 'I' Wave.
Good Luck ;)
Trade active
Note
Note
Just for knowledge, small wave formed in B - C leg ('I' wave).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.Note
Note
Of note my stop has been moved to 110.148. Trade risk free now ;)Note
Our target still stands 110.306. Good luckTrade closed: target reached
Our stop was reached at 110.148. Giving us a 352 pip profit. I wouldn't usually have such a tight stop move but the Kijun cross on the 4Hr chart is represented as a strong signal (in Ichimoku trading) for bearish reversal. There's still no reason our target 110.306 won't still be reached. I just had two trades going and happy with the total of 905 over two days.
I'll continue to monitor this trade set-up even tho I not in it now and continue to give analysis for those still in. Good luck.
Note
Note
Time to start adding up pros and cons.4Hr time frame Kijun cross (bearish strong), Momentum starting to fall (Kijun) and now a Shooting star (bearish candlestick).
Adjust accordingly ;)
Note
Sorry I miss read the 4Hr chart the Kijun cross it was a weak bullish signal (haha my bad, to many distractions this morning). For those still in the trade that's a good thing and our Kijun cross has gather momentum again on the 1Hr time frame.Shows stick to the plan!! O well learn from mistakes haha
Trade closed: target reached
For anyone who stayed in the trade, well done ;) Profit 512 pips!!
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