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  1. #1
    Veteran Member Ronnel's Avatar

    Advance Ichimoku Kinko Hyo J-Style :) !!!

    Ichimoku Kinko Hyo. Based on what my Japanese mentor taught me. This is intended for advance Ichimoku users who wants to take it to another level. Here I will mostly show how to trade Ichimoku using very short TF and for scalping. Many say that Ichimoku is only good for trending markets and for higher TF charts but this is BS. Yes using it conservatively like what most foreign Ichimoku gurus teach will keep you safer from taking bad trades but the truth is that with proper trading foundation, you can use this for lower TF, ranging market and even if the market is going sideways. There are times that indicators will fake you but with proper foundation especially with good candlestick reading skills, one can detect the fakies and trade accordingly. Here in Japan, good trading instructors will always start with teaching candlestick analysis first, then S/R, the Trendiness, then patterns and only then will they add Ichimoku on the chart. Ichimoku is basically for assisting the trader to detect the trend easily with just one glance and is very good showing it but just like any other indicator, if one trades it blindly then he or she is in for a big surprise. My mentor taught me this in preparation for me to shift to fully naked trading and with the techniques I learned using Ichimoku, it really boosted my overall trading skills plus strengthen my foundation.

    Here I will be sharing lots of pictures showing how Ichimoku can be used for scalping. Why I chose scalping and on a lower TF chart is because it is the hardest and many shy away using it maybe because they don’t know how to use it… As always, the stuffs that i will share here can also be used for higher TF (much more solid or more reliable) but if you know what you are doing, then all’s basically the same

    Again I will not include how to trade this newbie style, I will not show the entries and exits or expiry but one can basically have the idea where they are if their foundation is solid. Since there are lots of ways how to use this on different market settings, I will just be adding pictures as I go. If you have seen my naked charts, you will easily see very similar lines that I use and how I plot them. I cannot finish this all at once but will try to add more tutorial photos.

    To make this shorter, Here is a link to what it is:

    First do your own research and study on how Ichimoku works. Read books, watch YouTube tutorial videos, search the web or ask a friend who knows. Once you got the basics, you can come back and get more pointers on how to use this J-style.

    My main purpose on sharing this is not really to teach Ichimoku but to give pointers on how you can strengthen your trading foundation. I’m just using Ichimoku here because I believe that it is a good overall charting setup that an intermediate to advance trader can use to boost up his /her trading skills. One piece of advice, Ichimoku can be overwhelming because of it’s setup. It is intended to be traded with the trader’s focus concentrated on the right side of the chart. It is also good for doing analysis very close to the candles so if you love plotting very long trendiness, you’ll get overwhelmed and confused. Again stick close to the candles and focus on the right.

    Before you go jumping and trying this, I strongly suggest that you do a search on the stuffs that I shared before especially with candlestick analysis, master my Trading Wheels thread, and also look at my diary because I have given some pointers for Ichimoku somewhere inside it.

    Sorry I can’t give you a good holy grail strategy but what I can share is for you to have a stronger trading foundation.

    Will add more tutorial pictures in the future

    PS: I've read many times that some traders only use Ichimoku for trading JPY and says since it's made in Japan, it is best for JPY market. I think this is just an excuse. I've used it many-many times for different currency pairs with different TFs. Just like any other indicator it works just fine but the problem is that they blame the system but in reality, it's their trading foundation that needs some spanking. I've also read this too from traders using different strategies. Ok I will pick two strategies that I think are very good Which is Sakuhachi and Getsuga Tensho. The maker (Bogdan) said that they are best traded for a certain span of TF expiry. Many who followed the rules said they work. Some said that they can't make it to work. Some say that they have to wait for a long time for signals. The truth is I've used both those strategies, followed the rules and didn't trade blindly. To be honest, Getsuga Tensho save my dying account several times before. Ichimoku is the same, the trader must use his brains and trade accordingly. Yes any strategy is never perfect and we will get OTMs but I assure you that if you know what you are doing, you'll be able to weed out the fake signals, see the trend, feel where the candles would probably go and this will increase your chances of winning. If you keep landing in OTM, don't blame the strategy. Go back to the drawing board and study. Don't just study the strategy but also ask yourself if your foundation is strong. If your foundation is not strong, you can look at a strategy 100 times and still won't figure out what went wrong. For me I admitted that my skills suck and only then I was able to move forward.
    Last edited by Ronnel; 03-28-2016 at 07:51 AM.
    Duct Tape can't fix OTM

  2. #2
    Veteran Member Ronnel's Avatar

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    Duct Tape can't fix OTM

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  4. #3
    Veteran Member Ronnel's Avatar

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    Duct Tape can't fix OTM

  5. #4
    Veteran Member Ronnel's Avatar

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    Candles entering Kumo. May still go up but downward force is strong. Prepare for breakout preferably going down. Once candles enter Kumo, strong sign of ranging...
    PS: Blue Box on Chikou Span should be on the tip but I missed sorry... Notice where I plotted Strong S/R.. Aslo notice the sub S/Rs. You can also plot Fib on it and the lines will be very similar to Fib.
    Last edited by Ronnel; 03-28-2016 at 05:12 AM.
    Duct Tape can't fix OTM

  6. #5
    Veteran Member Ronnel's Avatar

    Attachment 4295
    Ichimoku with Fibonacci. Notice how it lines up with Kumo, also check Kijun Sen..
    Duct Tape can't fix OTM

  7. #6
    Master Member Bogdan G's Avatar
    Great new thread Ronnel
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

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  9. #7
    Veteran Member Ronnel's Avatar

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    Notice that Kijun and Tenkan Sen acting as Support.
    Areas to enter a trade using price action bounce (now candlestick analysis). Also check Fib and see where the bounce happened

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    Last edited by Ronnel; 03-28-2016 at 07:19 AM.
    Duct Tape can't fix OTM

  10. #8
    Legendry Member willyw's Avatar
    Grat work, Ronnel.
    Keep it up and keep going

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  12. #9
    Active Member denfion's Avatar
    Ronnel, Thank you very much for writing this for extending the knowledge of the trading wheels. Chikou Span is great for finding our S/R, but with the combination of the Kumo, we can also ensure our accuracy of our trend lines, so that we can confirm the trend, and to help our prediction too.

    I can't wait to study for the rest.

  13. #10
    Moderator Kolyo's Avatar
    Great thread Ronnel!

    Again something we can learn from. I agree with you that Ichimoku is good tool for trading not only Japanese Yen but all liquid assets. I still don’t have a lot of experience with it but this will change thanks to your posts here and in your other trading journal
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

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