In this brief forex trading video, professional trader and esteemed author, Manesh Patel explains the forex market for the week ahead using current market conditions to demonstrate some of the basics of the Ichimoku Kinko Hyo support and resistance system. Following the same strategies that are provided to his forex trading students, Manesh uses informative and recent educational chart examples to discuss how an Ichimoku trader would enter and exit their trades.
[youtube:a3nFmijMXck?fs=1;[link:Day Trading Forex With Ichimoku];http://www.youtube.com/watch?v=a3nFmijMXck?fs=1&feature=related]
Ichimoku Kinko Hyo is a technical trend based system that graphically illustrates resistance and support lines in a simplified form and is thought of as an extension of the well known candlestick charting system. In fact, this method 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).
Day Trading Forex using Ichimoku Clouds is a revolutionary approach to trading that will change the way you look at and trade the Forex Market as well as other markets (Stocks, Futures and Commodities). This special forex education video will outline the 5 primary indicators of the Ichimoku system. No other indicators are needed with Ichimoku because this system is complete as is. The indicators are noted below:
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 happened in the past, what is currently happening, and what may happen in the future for the Vehicle that is being analyzed.
Manesh Patel, is an instructor and trader with the Affinity Trading Group, experienced in the Ichimoku Trading System and has written what is already being talked about as a bestselling book on Ichimoku, “Trading With Ichimoku Clouds.” Mr Patel graduated with a Masters Degree in Engineering. But, his love has always been in the markets. A interest, which in 1996 took over as his new career and he now trades for a living as a full time trader. Manesh not only instructs the art of forex trading but also currently trades all trading instruments except for bonds.