What drew me to ichimoku was the spirit of always keeping an open-mind. I knew someone that popped in my trading room 3 years ago who was hooked on the ichimoku. Even though I did not like it, I encouraged him to share his ideas with my chat room. We ended up developing a friendship, and I became his student. I studied and dissected the ichimoku in every way I could, and found it was not only a highly transparent indicator, but could also be used as a standalone ("ichi"--one).
My brain went to work as I was discussing mathematical relationships with someone who was actually a failed trader. I wanted to keep an open mind to what he had to say about certain relationships. I went to work and studies the synergistic ebb and flow of all pairs, and came up with an idea. That was transformed into its mathematical equivalent. I still have many thanks to the one that developed the software for me to apply it on my charts with no effort.
The formulation of the S&R's and the ichimoku I found also formed a perfect confluence, and work in perfect harmony with each other.
The stochastics I only use as a momentum indicator. This helps in making a trading decision once price gets close to my S&R's.
The 200 MA I think as the zenith of the ultimacy of the pair. Either it gets ripped out, or the bounce ensues. It was the monthly MA alone that helped me to determine the GBP/CHF was in for a major plunge after it peaked at 2.4964. I have a few readers of this thread that can verify that because they were in that old chat room with me.
My S&R's had eveything to do empiricalism with the mathematics applied to it.
I give credit to my boss, Tucker, on that one. It is our pride and joy.
In reference to the HLC question, the P (pivot) of the DWMYDe, is always the open price.
This is why I say so much, I have immoveable confidence in my methodology, but I am always open to new ideas or new spins. This is why I view myself as still the little student that is still hungry for my knowledge--the shrub next to the redwood trres .But, looks can be deceiving. That is one powerful shrub.
Glad you're looking forward to the posts. I hope this thread continues to be informative.
Hi 4Xpipcounter
Just been reading through this thread adn some of the posts on your blog - including stuff about ichimoku - it is fascinating to see how you apply this with your own proprietary SR levels - and your forecast on 17 pairs - well I'm impressed
You said somewhere that you worked on trading for 4 years before you figured it out - what drew you to ichimoku
your SR levels - I know that these are proprietary - but again some background on how you arrived at these would be helpful ( I know you won't give out the formula...) - but was this empirical research - looking at levels at which the market turned - or some mathematical calculation based on HLC
anyway looking forward to your posts
thanks
