This Week In Forex Trading Using Ichimoku Analysis
On this video presentation, expert trader and prestigious publisher, Manesh Patel shows the foreign exchange market for the week forward employing existing market situations to demonstrate some of the basics of the Ichimoku Kinko Hyo support and resistance method. Using the same approaches which are taught to his forex traders, he employs enlightening and current informative chart examples to display how an Ichimoku forex trader would base their entries and exits.
Ichimoku Kinko Hyo (Pronounced: Ichiii...Mooooo...Kuuuu) is a technical based system that demonstrates very clearly support and resistance areas in a simplified form and is considered an add on of the very popular candlestick charting system. In truth, this technique was built on the idea that at "one glance" you should be able to easily determine whether an instrument is in equilibrium (consolidation) or out of equilibrium (trending).
Daytrading Forex with this system is a innovative way of trading that will change the way you look at and trade the forex market along with other markets (Stocks, Futures and Commodities). This specialized educational video will demonstrate the five primary indicators of this trend based method. There is no need for other indicators with this approach since 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 witness what has occurred in the past, what is currently occurring, and what may occur in the future for the vehicle that is being analyzed.
Your video presenter, Manesh Patel, is a professional proprietary trader with the Affinity Trading Group, experienced in the Ichimoku Trading Technique and has published what is already being talked about as a best-selling book on this strategy, "Trading With Ichimoku Clouds." Mr Patel graduated with a Masters Degree in Engineering. However, his love has been trading the markets. A interest, that became his new career in 1996 and he now trades for a living full time. He not only instructs the art of forex trading but also is active in the markets and trades all trading instruments except for bonds.
Article Source: FxTradingStock.com
About the Author
Focusing on both the forex and stock markets, Affinity provides day trading online education with a niche focus on scalp trading. In addition to education, Affinity Trading makes available a variety of trading software platforms for their traders.
by: Alex Ichimoku
Total views: 15
Word Count: 369
Date: Wed, 2 Feb 2011
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