Eur.Usd #41
I have started this post so that there is a record for members education on Kijun Sen/Tenkan Sen
16/2. The low of the Morning Star on the daily chart did not hold support and the 4 following black candles have bullish overtones. That is to say I am considering that the first three have long lower tails and the forth is a Spinning Top formed within the previous candle (Harami). This could mean the bulls may try to force the price higher, which also means there may be some opportunities north for experienced day traders/scalpers.
17/2. Day Trader and scalping members took some profits (maximum 156 pips) from the Euro based on the chart set-up given yesterday. With yesterdays candle providing a second Morning Star pattern there would appear some possibility for continuation in the short term. I have put this on a separate post now for record purposes. Result shown below
16/2. First chart
17/2 – 2nd Chart (Result – maximum 156 pips)
4 Hour Eur Kumo is turning Positive here (USDCHF vice versa), I like that and stay Long.
Hi Arco (or other learned traders)
May I ask what the significance is of the BLUE H1, H4 and D1 is, on the above charts. I expect you will say H1 = 1 Hour, H4 = 4 Hour etc… but as the chart is a D1 (daily chart) I dont quite see why these price points (horizontal levels) have been labeled as they have… ?
Sorry if its obvious, but still reading the site, trying to come to terms with how you trade and use the Ichi Charts.
Hmmm… are they the KS levels from the H1 and H4 charts, marked on this this D1 chart for awareness… ? If so, what is the purpose of placing them on here… to show where the resistance was and that it broke through it… ?
Thanks
MOKA
Hi Moka. No problem. Yes the blue lines are Kijun from different time frames. The purpose is to see where the potential resistances might be on one chart, although you could always have 3 charts open, but depending on how many you are watching it could get quite intensive.