EURUSD Intra-day Ichimoku Best Forex Trading Strategy 19-Aug-2014 Image: Oanda Another Ichimoku Winning Trade for Forex! Hope that you had read the forex blog the day before, cause the set up was rather similar for today's trade. I had done a market sell @ around 1515hr. The basic principle, to sell below the cloud low. Of course, the overall ichimoku charting had reflected bearish for prolong period, with tenkan-sen below kijun-sen, and chikou span below the kumo cloud. The trade was done during office hours using mobile phone. I placed another stop in trade at around or just before 2030h. There were news to be released at 2030h. Same trade set up the day before, placed stop in level below tenkan-sen. And there it went, price smacked down and the trade got triggered. I had placed to close partial position at 13295 level, and target level with 3: 1 ration. Again, what we want is one thing, what the market is giving is another. Time to sleep, I square off the positions. Using ichimoku charting for Forex gives one of the best forex trading strategy.
EURUSD Intra-day Ichimoku Best Forex Trading Strategy 20-Aug-2014 Image: Oanda Another winning ichimoku strategy for forex trading!!! This forex blog post came late. Let's do a quick review on the forex trade based on the ichimoku charting above. As usual, tenkan-sen below kijun-sen, together with chikou span, all were below the ichimoku cloud low. Placed a stop in sell order and was triggered at 1. I had also placed another stop in order as shown at 2. That order was cancelled later as I was going to sleep. Looking at the price action, we could see that the price level that I sold was really new the low for the night. And there was chances that the price may look to go into the ichimoku cloud. It didn't. On Ichimoku charting, tenkan-sen did cross over the kijun sen. However, just one signal from the ichimoku charting is not significant enough to conclude as a trend change. Chikou span span had not crossed kijun-sen. And more important, none crossed over the ichimoku cloud. I left the position opened as I already knew there would be news later on. News worked both way, in your favor or against your position. The important thing is that stop loss had been placed above the cloud high. So the risk had been managed. Woke up this morning, saw the position making money, closed out as shown at 3. Ichimoku forex strategy is one of the simple trading strategies.
TRADE Date: 03-Sep-2014 Entry: Sell Stop 104.95 Reason for Trade/Setup: Based on ichimoku charting, the overall price action for the USDJPY was bearish. The only bullish signal was Tenkan-sen above Kijun-Sen. Placed a sell stop below recent low at 104.95. Initial Stop: 105.15 Initial Target: 104.35 RESULT Exit: Time to sleep. Outcome: Price action drifted lower, in a very slow manner. Tenkan-sen cut below kijun-sen later on. Profit/Loss: +6.5 pips
EURUSD Intra-day Ichimoku Best Forex Trading Strategy 04-Sep-2014 Image: Oanda TRADE Date: 04-Sep-2014 Entry: Sell Stop 1.3005 Reason for Trade/Setup: (There was a big sell down prior 2000hr. It should due to news.) Switched to 1 min chart for set up as the 15 min chart will not be able to reflect trade set up due to the large sell down prior 2000hr. Based on ichimoku charting and the overall price action for EURUSD, it was bearish. At the time of the order, price action was drifting lower and below the ichimoku cloud. Chikou span had crossed below the cloud too. Placed a sell stop below the recent low taken at 2109hr (1.3009 level). Initial Stop: 1.3035 Initial Target: 1.2915 RESULT Outcome: Price action drifted lower, in a very gradual manner. Till Tenkan-sen crossed above kijun-sen for a short while before crossing below kijun-sen again. Exit: Time to sleep. Profit/Loss: + 59 pips
EURUSD Intra-day Ichimoku Best Forex Trading Strategy 05-Sep-2014 Image: Oanda TRADE Date: 05-Sep-2014 Entry: Sell Market 1.2977 Reason for Trade/Setup: Ichimoku Charting showing bullish view from all ichimoku indicators, tenkan sen cross over kijun-sen and above kumo cloud, chikou span cut above the kumo cloud again, and higher than previous high, with forward kumo cloud being bullish and thick, providing the support required. Initial Stop: 1.2960 Initial Target: 1.3028 RESULT Outcome: Price action went up higher for a short while, turned south there after. It crossed below the kumo cloud. Exit: Stopped out. Profit/Loss: -17 pips THOUGHTS 15 min chart is still preferred. Based on 15 min chart, there will be no trade. 1 min chart can be volatile, when there is no specific trend for that trading period.
EURUSD Intra-day Ichimoku Best Forex Trading Strategy 10-Sep-2014 Image: Oanda TRADE Date: 10-Sep-2014 Entry: Sell Market 1.2925 Reason for Trade/Setup: The main 2 contributing factors for the sell were Tenkan-sen crossed below kijun-sen (though above the kumo cloud), and price action crossed over below the kumo cloud. The chikou span was still in the kumo cloud region, idea would be it went below the cloud. Initial Stop: 1.2965 Initial Target: 1.2805 RESULT Outcome: There was a sharp reversal in price action, it did not really cross over the kumo cloud though. Price action traded to kijun-sen level before drifted lower. Exit: Time to sleep. Profit/Loss: +15 pips
EURUSD Intra-day Ichimoku Best Forex Trading Strategy 11-Sep-2014 Image: Oanda TRADE Date: 11-Sep-2014 Entry: Buy Market 1.2920, Buy Stop 1.2935 Reason for Trade/Setup: The first trade was a buy market. It was taken because all the ichimoku chart indicators point to buy/bullish. Tenkan-sen above kijun-sen, both above the ichimoku cloud. Chikou span also crossed above the ichimoku cloud again after drifting into the cloud earlier.The forward cloud was also reflecting bullishness. Price itself also above the Tenkan sen, and reflecting new high in the recent moves. The second trade was of similar ichimoku trade set up, addition to it was the reference of the most recent high as an entry level. Initial Stop: 1.2900, 1.2905 Initial Target: 1.3020, 1.3025 RESULT Outcome: Choppy. There was not much movement for the night. Exit: Time to sleep. Profit/Loss: +21 +6
EURUSD Intra-day Ichimoku Best Forex Trading Strategy 12-Sep-2014 Image: Oanda TRADE Date: 12-Sep-2014 Entry: Buy Stop 1.2937, Buy Stop 1.2940 Reason for Trade/Setup: The ichimoku chart indicators were favorable to a buy set up, mainly tenkan-sen above kijun-sen, and tenkan already crossed over the ichimoku cloud. Chikou span had also crossed above the ichimoku cloud. While the forward cloud signaled bullish, it was rather thin, which may bring concern to the support to the price activity ahead. The first buy stop was based on the current period high, whereas the second buy stop based on the recent high. Initial Stop: 1.2915, 1.2915 Initial Target: 1.3003, 1.3015 RESULT Outcome: Choppy. Price action went up and shot down the next 2 periods. Position was stopped out. Exit: Stop out. Profit/Loss: -22, -25 THOUGHTS There were high impact news @ 2030h and 2200h. However, it was not the plan to trade news. The price itself already reflected what it is or it was. Perhaps when the forward cloud is thin, it may be wise to adjust the total risk for the trade(s) to be taken. I am also aware that the price action now as I am writing this blog is now approaching 1.3000. There will always be such days around.
Image: Oanda TRADE Date: 04-Sep-2014 Currency: NZDJPY Entry: Buy Market 87.49 Reason for Trade/Setup: A very typical bullish view from ichimoku chart indicators, with tenkan-sen above kijun-sen, and both above the ichimoku cloud. Chikou span had also crossed over the kumo cloud and the forward cloud remained bullish. A Buy Market with stop loss below the ichimoku cloud. Initial Stop: 86.60 Initial Target: 90.25 INTERMEDIATE COMMENT Price activity has moved higher, continued to see bullish cloud ahead. Stop loss level adjusted to a higher level. RESULT Outcome: NA Exit: NA. Profit/Loss: NA
EURUSD Intra-day Ichimoku Best Short Term Forex Trading Strategy 22-Sep-2014 Image: Oanda TRADE Date: 22-Sep-2014 Entry: Sell Stop 1.2835, Reason for Trade/Setup: The price action had crossed below the ichomoku cloud earlier, however, chikou span had not. When the price action moved back to the cloud, placed a sell stop below the recent low. Chikou span was just above to crossed below the kumo cloud. Could have waited awhile more but decided to take a bit of risk for the early entry. Initial Stop: 1.2865 Initial Target: 1.2745 INTERMEDIATE COMMENT N.A RESULT Outcome: Price action came lower. However, market was not moving a lot. Decided to exit for the night.. Exit: Closed out market. Profit/Loss: +6 pips THOUGHTS N.A