Hubert Senters here.
Once you’ve mastered the basics of Ichimoku then you can then you can dive a little bit deeper into a little bit more advanced technique. I’m going to shrink down the ADX so we can have more room here.
So this is a daily chart I like to use three different time frames for multiple timeframe analysis and use whatever you want. And there’s no such thing as best in trading. There’s what you can actually execute over and over and get yourself to do.
These are the best ones that I like to use for myself. Like I said there is no such thing as best that’ll work for everyone. So the first timeframe I like to use is a daily followed by a 60 minute and then also on an intraday timeframe, I like to use a 10 minute timeframe. Now they don’t all three have to line up. I like it when they do it makes my job a little bit easier.
But as you can see here Amazon on a daily chart here was bouncing off the cloud which tends to be a place that I want to buy things on. I’m not just going to blindly buy at the cloud as sexy as it seems. But what I’m going to do is I am going to let this 10 minute affect my decision so.
As soon as the 10 minute price action gets above the cloud I can then buy that. Now you can see I don’t have a 60 minute buy signal yet but knowing that the 10 minute is in effect I know about how long that a signal is good for.
And I also know that this is probably going to run from this price action up to $1470.58 and then it could eventually go up to $1540 and then that would get us higher price action on the daily price chart.
So pick you at least two time frames. No more than three. More than three is just going to confuse the shit out of you and make your job a whole lot harder. So pick a minimum of two different time frames, a longer term, a medium term or a medium term and a shorter term. I like to do a combination of three daily hourly and ten minute.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
