Ichimoku Kinkou Hyou (Itchy Mushrooms)

by **blid2def** » Fri Jun 27, 2008 2:39 pm

Anyone here uses Itchy Mushrooms for their TA work? If so, would you like to exchange ideas on this thread? I'm just starting to test IKH for my equities trading, although I reckon it's used more often than not by forex traders. Am thinking of tapping on the knowledge of people familiar with the system to critique my opinion of various stocks' Itchy Mushroom charts.

by **kennynah** » Fri Jun 27, 2008 2:56 pm

great that you started this thread....longing for some solid TA exchanges...especially this Itchy Kinky stuff.. let me go spend some time and discover....and be back

by **blid2def** » Fri Jun 27, 2008 3:06 pm

For those interested, this is the most complete resource I can find on the web so far for the itchy mushrooms:
http://www.kumotrader.com/ichimoku_wiki ... =Main_Page

And this is a forum for itchy mushroom eaters:
http://www.kumotrader.com/forum/

The traffic isn't very high for the mushroom restaurant, so I was hoping to find fellow connoisseurs here. There's only one English book on it so far, and it's not available in the library yet, nor is it easy to find (out of stock everywhere - even in the US).

by **blid2def** » Fri Jun 27, 2008 5:34 pm

Okay, I'll kick off with a look at McAfee [symbol]MFE[/symbol]. This one doesn't look like a convincing sell to me - maybe it'll be good for a quick hit-and-run if you're happy with a dollar or two. Really hope there are itchy mushroom chefs here who can tell me what's right / wrong with my analysis.

Itchy Mushroom Daily

Itchy Mushroom Weekly

Conventional TA

by **iam802** » Fri Jun 27, 2008 5:55 pm

How does it work?

Are the lines drawn the same 'moving average' (in conventional TA) or do we have to re-calculate and plot some special lines to do the 'mushroom' analysis?

by **HengHeng** » Fri Jun 27, 2008 6:11 pm

i see stars liaoz ..

by **blid2def** » Fri Jun 27, 2008 10:40 pm

iam802 wrote:How does it work?

Are the lines drawn the same 'moving average' (in conventional TA) or do we have to re-calculate and plot some special lines to do the 'mushroom' analysis?

Eh... I think easier if you read the link I gave, 'cos there are like 3 lines + 2 lines forming a cloud - so it's hard for me to explain (I can cut and paste lah, but serve no purpose lol).

In short:

1. there are 2 main lines which are averages of the highest highs and lowest lows over n-periods (9 days and 26 days).

2. the cloud is formed by 2 lines - one is the average of the first 2 lines shifted forward 26 periods, the other is the average of the highest highs and lowest lows over 52 periods, shifted forward 26 periods; cloud shows volatility, and support/resistance strength

3. a final line which is the shadow of the current price action, shifted back 26 periods; this often acts as the confirmation signal

It's quite confusing at first glance, but after a while, it becomes easier to understand / grasp the concepts. I'm however, very new to this as well, and am hoping one of our members is familiar with this system and is able/willing to share his/her thoughts on my analysis.

by **blid2def** » Fri Jun 27, 2008 10:42 pm

HengHeng wrote:i see stars liaoz ..

LOL okay lah, give you a star again:

by **kennynah** » Fri Jun 27, 2008 10:45 pm

i think u need to give me one or two as well.... wahliao....tough indicator to use man....only u can understand the details.... :?:

by **blid2def** » Fri Jun 27, 2008 10:50 pm

kennynah wrote:i think u need to give me one or two as well.... wahliao....tough indicator to use man....only u can understand the details....

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