Analyzing This Week's Forex Markets With Ichimoku Clouds
With this quick video, expert trader and esteemed author, Manesh Patel explains the forex market for the week ahead applying latest market circumstances to demonstrate some of the fundamentals of the Ichimoku Kinko Hyo support and resistance method. Following the same approaches which are taught to his forex traders, he uses helpful and recent educational chart illustrations to show how Ichimoku helps pinpoint where to enter and exit a trade.
Ichimoku Kinko Hyo (Pronounced: Ichiii...Mooooo...Kuuuu) is a technical based system that powerfully illustrates resistance and support areas in a simplified method and is considered an extra feature of the very popular candlestick charting system. In truth, this approach was built on the idea that at "one glance" you ought to be in a position to easily detect whether an instrument is in equilibrium (consolidation) or out of equilibrium (trending).
Day Trading Currency using this method is an interesting way to trade the market that it will open your thoughts and alter the way you approach forex trading as well as other markets. This special educational video will demonstrate the five important indicators of this trend based system. You will not need to use any other indicators with this method for the reason that the system is 100% complete. The indicators are as follows:
Tenkan Sen (red), Kijun Sen (green), Chikou Span (light purple), Senkou A (dark blue), Senkou B (white)
Using all five of these indicators, an investor can easily view what has happened in the past, what is currently happening, and what may happen in the future 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 Method and has written what is already being dubbed as a bestselling book on this strategy, "Trading With Ichimoku Clouds." Mr Patel graduated with a Masters Degree in Engineering. But, his passion has been trading the markets. A passion, that in 1996 became his career and he now trades for a living full time. He not only teaches the art of currency trading but also currently trades all asset classes except for bonds.
Article Source: FxTradingStock.com
About the Author
Affinity Trading Group is a prop trading firm that offers a free stock and forex workshop for those interested in a trading carreer. In addition to seminars & courses, Affinity also offers an online trading room with real time trading ideas.
by: Melvin Astor
Total views: 14
Word Count: 368
Date: Fri, 27 May 2011
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