Okey,cool!
I heard that they should be good at visulasing resistance and support.
Ichimoku charts are basically a bunch of indicators that you could put together yourself, plus instructions on reading them. Nothing more, nothing less. They're very nice for being a well tested set of indicators, which do include showing things like resistance and support, but equally you could just take the resistance/support indicators and drop the trend indicator if that's all you want...
TanushiHeadbash
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I have been reading up on them, not so much because I wanted to trade them but just to understand how they worked. I notice the guy who does TA in the Weekend FT quotes them and a few of the people who come on Bloomberg at the weekend use them too. I never really understood them- also sharescope has them as an option and just looking at them at face value- I stuggled to see what they were really doing.
Last week I bought Nicole Elliots book on them, its not the best TA book ever written but to give a basic insight into how they work its not bad. The book gets a bit of a slagging on Amazon in the review bit, but I feel I understand them a little better- all the Japanese names for the lines I find a bit hard to remember (then again I can't remember what I had for tea last night at the best of times) . The book is called Ichimoku Charts, an introduction to Ichimoku Kinko Clouds and is published by Harriman Trading- ISBN 1-897-59784-3. You can pick it up for about half printed price through some of the Amazon Market place dealers. I know there will be stuff ont he web about them but I prefer reading from a book where I can put stickies in and go back to when I am looking at stuff.
Plus I have to say I like her style- when she is on the telly she always strikes me as ever so slightly nuts and I quite like that!
HTH
Kenny
Last week I bought Nicole Elliots book on them, its not the best TA book ever written but to give a basic insight into how they work its not bad. The book gets a bit of a slagging on Amazon in the review bit, but I feel I understand them a little better- all the Japanese names for the lines I find a bit hard to remember (then again I can't remember what I had for tea last night at the best of times) . The book is called Ichimoku Charts, an introduction to Ichimoku Kinko Clouds and is published by Harriman Trading- ISBN 1-897-59784-3. You can pick it up for about half printed price through some of the Amazon Market place dealers. I know there will be stuff ont he web about them but I prefer reading from a book where I can put stickies in and go back to when I am looking at stuff.
Plus I have to say I like her style- when she is on the telly she always strikes me as ever so slightly nuts and I quite like that!
HTH
Kenny
Never used them, but they are more applicable to more markets than others; any JPY pair, the Nikkei etc...
It's a Japanese indicator, so expect Japanese markets to be looking at it. This is particularly relevant to the JPY and crosses, where locals are a force to be reckoned with.
It's a Japanese indicator, so expect Japanese markets to be looking at it. This is particularly relevant to the JPY and crosses, where locals are a force to be reckoned with.
Thank you for that answere! =)
That was the book i had been thinking about buying!
And Mr.Gecko!
That was a really intresting fact! I guess you are right! Good, since I do some FX trading in the JPY/USD!
timsk
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The book is terrible IMO - here's why:Thank you for that answere! =)
That was the book i had been thinking about buying!
http://www.trade2win.com/boards/swing-position-trading/25932-ichimoku-kinko-hyo-charting-system.html
This site is MUCH better written and more informative and, of course, it's inter-active. Save your money and go here instead:
http://www.kumotrader.com/forum/Themes/SlickPro_Graphite/images/logo.jpg
Tim.
littlemog
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Interesting & comprehensive site at this Kumo... thanks for the link too timsk...
I've been employing them on top of my MAs when trading the dollar yen, and they've been pretty useful in telling me if a trend is on or not, and also in identifying zones to take profits. Still, not deep enough to tell you if they're good... gotta do more study too.
I've been employing them on top of my MAs when trading the dollar yen, and they've been pretty useful in telling me if a trend is on or not, and also in identifying zones to take profits. Still, not deep enough to tell you if they're good... gotta do more study too.
Phoenix669
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I use ichimoku as my main forex indicator.
Mostly I ignore the moving average crosses, focus on the chinkou span and kumo/kumo shadow.
30m, 4h, 1d 1w charts.
Mostly I ignore the moving average crosses, focus on the chinkou span and kumo/kumo shadow.
30m, 4h, 1d 1w charts.
yea, i know how to calculate them
I wrote them in a script
But there is one thing to know how they are calculated and what they are, and its another being able to use it in my trading.
Id like to have a go at this!! how/where did you learn to calculate them in order to add them to your charts?!?:smart:
cheers
