Monday, May 9, 2011

Currency Trading Analysis Using Ichimoku Clouds

By Melvin Astor


On this video presentation, professional trader and well-regarded writer, Manesh Patel explains the foreign exchange market for the week ahead using present market conditions to demonstrate a few of the essentials of the Ichimoku Kinko Hyo support and resistance method. Using the same tactics which are provided to his currency trading students, he employs enlightening and recent informative chart illustrations to discuss how an Ichimoku fx trader would enter and exit their trades.



Ichimoku Kinko Hyo is a technical based system that shows you in a powerful manner resistance and support values in an easy to view form and is looked upon as an add on of the widely known candlestick charting system. The fact is, this technique was built on the idea that at "one glance" you should be in a position to easily evaluate if an instrument is in equilibrium (consolidation) or out of equilibrium (trending).

Day Trading Fx using this method is a type of trading that will reinvent and change how you approach, examine and trade the forex market as well as other markets (including the stock market. This special educational video will demonstrate the five primary indicators of this trend based system. No other indicators are needed with this strategy since it offers the complete package. The indicators are noted below:

Tenkan Sen (red), Kijun Sen (green), Chikou Span (light purple), Senkou A (dark blue), Senkou B (white)

Using all five of these indicators, a trader can see what has what is occurring, what has occurred and what may just possibly occur for the instrument that they are about to trade.

Your video presenter, Manesh Patel, is a trader with the Affinity Trading Group, experienced in the Ichimoku Trading System and has written what is already being dubbed as a best-selling book on this technique, "Trading With Ichimoku Clouds." Mr Patel graduated with a Masters Degree in Engineering. However, his interest has been trading the markets. A interest, which in 1996 took over as his new career and he now is a full time trader trading for a living. He not only instructs the art of fx trading but also currently trades all asset classes except for bonds.




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