A Live Trade Exercise And Analysis Using The Ichimoku Kinko Hyo
For a long time, I wanted to provide my readers and YouTube followers an over-the-shoulder look on how I trade using the Ichimoku Kinko Hyo indicator. (You can learn how to use this free indicator by watching my video tutorial series HERE).
The Ichimoku is one of my favorite trading indicators because it is powerful and it “keeps you disciplined” if you follow the rules. Rock solid patience is required when trading.
The exercise is provided in “parts.” I WILL NOT take a position in a trade until the Ichimoku tells me too. I will continue with the exercise until an opportunity presents itself to enter into a trade. It could be weeks, I do not know. But I want you to see me enter into a trade and get out with profit.
I trade on the XBT/USD four-hour chart. I am looking for good quality trades. As of this writing, Bitcoin (XBT) is ranging (price moving sideways hitting the same support and resistance levels) and that is when you DO NOT enter into a trade. So, I am waiting.