This was pertaining to trades established quite some time ago, and referencing to the most recent post made about shifting stop loss level below the kumo cloud. Currently, there is no EurUsd position. However am looking to build position for the EurUsd. There is a thick cloud ahead that works either way for the price itself. If price is above the cloud, we could said the trend is reversing with a good support. Similarly, if price fails to penetrate above the cloud, the cloud level is providing good resistance to price itself. It could be a long or short looking ahead. Some trading idea based on ichimoku trading concepts: To go Long: Build up position if price penetrated above the cloud. Build up position if price retrace to around 1.2550. Build up position when chikou span also traded above the cloud. To go short: Build up position as price goes below ki-jun sen. Build up position when tenkan-sen cut below ki-jun sen. Build up position around 1.2400, which is slightly below the kumo cloud. ciao.
This was continued from the previous post. Shifted stop loss level to below the cloud. From the cloud ahead, the support at 0.7560 level is not firm, as reflected by the "thin" cloud. Will be looking at trading opportunities in terms of price bouncing of the tenkan-sen and chikou span trading above the kumo cloud. ciao.
This was a trade established some time ago. Position had been closed out. (Profitable) The closed out was not ichimoku driven, but due to position established in the opposite direction for EURO. ciao
A signal came in the morning. Technically, this was a very early signal. Price penetrated below the jikun-sen, and in the kumo cloud. Another stop in order was placed to add more short positions should the price traded further downwards in the kumo cloud. Kumo cloud represents support and resistance. When price entered into the cloud, it meant price has reach to uncertainty status. In this case, I favor the short. ciao.
Unfortunately, the Greece election did not bring bad news to the euro just yet. Was stopped out. (Did not post it here, as was catching a flight to china. Was reflected on my blog that the trade stop out.)
It was very upsetting for the last trades that the position was stopped out. Nevertheless, continued to established short positions when the ichimoku strategy allowed for it, couple with the economic sentiments for euro. Will cover some position to recover the loss in the previous trade, and will continue to add more short position as long as opportunity arrives.
Continued from previous post. Square off some positions for profit taking. Positions remained open. Am looking for opportunities to add short position.
This is an update to the short positions from the previous post. Price has been trading lower after squaring off some position for profit taking. Nevertheless, still looking for opportunities to add some short positions. Has shifted the stop loss level lower to 1.2500 level. Looking forward: Fundamental: In short, nothing encouraging from the EU. Technical (Ichimoku): Tenkan-sen and kijun-sen has been expanding (price acceleration, gap between the 2 lines), price consolidation is anticipated at the white rectangle box as shown in the chart. The Kumo cloud is getting thicker. Such cloud provide good resistance to the price action below. Similarly, should the price action penetrated above the thick Kumo cloud, followed by the chikou span penetrating above the kumo cloud, it will form good support to the price itself then. Strategy (Ichimoku) ideas. Looking to add short position between 1.2250 - 1.2350, or when price trades near kijun-sen. Stop loss level could be adjusted to 1.2450 then.
As mentioned in previous post, added new position in 1.2250 to 1.2350 range. Specifically at 1.2250 and 1.2300. By price action itself, it might be heading to test the level of 1.2160. Looking at the thick ichmoku cloud formed up ahead, there is strong resistance at 1.2250 level. Looking forward: Technical (Ichimoku): Tenkan-sen and Kijun-sen are converging, a cross over of tenkan-sen above kijun-sen is the first signal of going long should both lines below the cloud. Strategy (Ichimoku) ideas: In general, price below the cloud indicate a bearish view. Short position could be added with limit sell at 1.2250. If adding long position, could consider taking up small position when tenkan-sen cut above jikun-sen. If price action goes above1.2325, could look to add more long positions.
Continued from my previous post written few days ago. 3 ichimoku strategies were briefly discussed. I have chosen the first one, "... price below the cloud indicate a bearish view, short position could be added with limit sell at 1.2250.." Had added another one at 1.2300. In short, more short positions were added during the last few days. Tenkan sen did cut above jikun sen, and the price action high reached 1.2325. However, there was no momentum to the up swing from the price itself. Technical (Ichimoku): Tenkan sen is converging towards jikun-sen between 1.2200 to 1.2250, likely a change towards negative swing in the near term. Thick kumo cloud ahead provide strong resistance to the price action. Price action shows support coming in at 1.2150. However, take note if this level is break by the chikou span. It demonstrates the current mode is bearish. Strategy (Ichimoku) Do not go long until the path ahead is clearer when revealed by the price itself. If going short, might look for opportunity around 1.2200 level, using a dollar stop according to individual risk.