For my weekly FUTURES Analysis I employ ICT Price Action Concepts. I utilize the Ichimoku Indicator for my Retracement Levels and to manage my Intraday FUTURES trades throughout the trading session.
Using concepts founded by ICT (The Inner Circle Trader) and my overlay using the Ichimoku Indicator, I am forecasting a Bullish Dollar for the month of March. Analysis of the Dollar is important; it being the default World Currency, having and idea of its movement will aid in your trading decisions.
This is a view of the 15 Minute Chart showing the Ichimoku ' Death Cross ' which indicates the beginning of lower prices; Also, to confirm this we see price moving into the Kumo and we see the beginnings of a Red Kumo which confirms lower prices. These in my opinion are multiple areas of convergence that confirm my overall analysis. At this point I will determine...
On the 30 Minute Chart we see the beginning of the the (Death Cross) the shade circle. This indicates that price is beginning its downturn. The lower timeframes should confirm this; if they do, I will determine how much to move my Stop Loss and possible add to my position.
On the 1Hour Chart again pay attention to the the 5 lines and Kumo as they pertain to price and where it is gravitating to. I have been in this trade since the Australian Market Open based on the premise that price will drop significantly during the (mid London Session and throughout the New York Session.)
Applying Top Down analysis starting with the Daily Chart, we now have a picture of the 4Hour Chart. Compare the 5 lines of Ichimoku in reference to the the (top down) analysis.
This is an Update of my Short MNQ trade. As mentioned in my previous posts, I utilize ICT Price Action Concepts to determine direction and the Ichimoku Indicator to manage Expansion Ranges, Retracement Levels and in general determine how long I stay in the Trade. I Consider myself a Short-term/Day Trader.
I am forecasting a deep pullback in MNQ. I have placed Sell Limit Order.
This is my chart with the Ichimoku Indicator overlay.
I am providing a forecast of the direction of MNQ with my on-the-chart notes. In addition, I will overlay this forecast with the Ichimoku Indicator for purposes of showing levels and general trend direction.
15 Minute Chart with the Ichimoku Indicator overlay. I think it probable that these gaps will get filled during the Australian/Asian Sessions. My overall narrative is: *Price will retrace into the Daily/Weekly imbalances. *I have Alerts set at the Fair Value Gaps because I may trade the first Hour of the Asian Session.
Price Action on the 15 Minute Chart with Fair Value Gaps.
This is Price Action with an overlay of the Ichimoku Indicator. (Notice the (Death Cross)
The 1Hour chart shows the Fair Value Gaps below price AND the ones being created in the retracement lower.
This is an overlay of Price Action using the Ichimoku Indicator.
This is a view of the Daily Chart price action. I think it probable that price will retrace into this area throughout the Week.
This is the Weekly Chart overlay with the Ichimoku Indicator.
Using the Weekly and Daily Charts as my Mother Charts for this week's trading, I am forecasting a pullback in price. I am using ICT Concepts for my Price Action Analysis with an overlay of the Ichimoku Indicator to show Levels and Trend direction.