Tuesday, June 7, 2011

The Currency Trading Week Ahead Using The Ichimoku Indicator

By Melvin Astor


With this quick video, skilled investor and esteemed writer, Manesh Patel describes forex trading for the week forward utilizing present market conditions to demonstrate some of the fundamentals of the Ichimoku Kinko Hyo support and resistance technique. Using the same methods that are taught in his 5-Day Fx Lab, he uses enlightening and recent educative chart examples to display how an Ichimoku forex trader would base their entries and exits.

Ichimoku Kinko Hyo is a technical based technique that demonstrates very clearly support and resistance levels in an easy to view method and is looked upon as an extra feature of the widely recognized candlestick charting system. Actually, this system was invented on the idea that at "one glance" you will be in a position to easily evaluate if an instrument is in equilibrium (consolidation) or out of equilibrium (trending).

Day Trading Currency with this style is an interesting approach to trade the market that it will open your thoughts and change how you approach currency trading and also other markets. This specialized educational video will demonstrate the five important indicators of this trend based strategy. There is no need for other indicators with this strategy for the reason that this system is complete as is. Here are the indicators:

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

In using these five indicators, a trader can easily see what has happened in the past, what is currently happening, and what may happen in the future for the vehicle that they are about to trade.

Manesh Patel, is a professional trader with the Affinity Trading Group, experienced in the Ichimoku Trading Technique and has written what is already being posted as a bestselling guide on this system, "Trading With Ichimoku Clouds." Mr Patel graduated with a Masters Degree in Engineering. However, his love has always been in the markets. A passion, that in 1996 became his career and he now is a full time trader trading for a living. He not only teaches the art of currency trading but also actively trades all asset classes except for bonds.




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