The AUDUSD had been stopped out, with a loss. The loss has been minimized from the initial position as the kumo cloud shifted higher from where it was.
These were new positions established recently after closing off all long positions. Technical (Ichimoku) Tenkan-sen has cut below jikun-sen for quite some time while above the kumo cloud. Price action followed through and penetrated into the kumo cloud. Chikou span has also cut below the jikun-sen. Ideally, price action continues to trade below the kumo cloud, follows by the chikou span cutting below the kumo cloud. Strategy (Ichimoku) Short position has been established when price entered into the kumo cloud, taking an aggresive view. Another short position has been added when price action trading new the kumo cloud lo. Stop loss is placed above the cloud hi. A thick cloud provide good resistance and support in both ways. Depending how the price action unveils, short position can be added when price action goes below the cloud, or chikou span goes below the cloud.
This is continued from previous post. After initiated short positions few days ago, continued aggressively to add on new position when price penetrated through the kumo cloud. There was no full period under the cloud, position established in aggressive manner. Technical (Ichimoku) Price action reverted back into the kumo cloud showing uncertainty to the direction of the price itself. While tenkan-sen was below jikun sen, possibility of a cross over seem to happen. And chikou span is looking to cut tenkan sen, showing the weakness in the downward move. The kumo cloud is getting thinner ahead, chances of price cutting above is there. Strategy (Ichimoku) If not in position, stay out. Look out for price action below and above the Kumo Cloud.
Sharing another ichimoku trade(s). This was aggressive positions taking. First position was taken when price penetrated into the kumo cloud, coupled with first signal that tenkan-sen already cut below jikun-sen. Second position was taken when chikou span cut below the jikun-sen. Price action was in the mid of the kumo cloud. Third position was taken when tenkan-sen diverge from jikun-sen (again) while in the kumo cloud. The above positions were taken in aggressive manner. Technical (Ichimoku) Tenkan sen has already cut below the jikun sen, and chikou span also cutting below jikun-sen. While price action already below kumo cloud, chikou span still yet to cut below the kumo cloud. The kumo cloud is getting thinner prior to a thick cloud formation ahead. Strategy (Ichimoku) Aggressive position takers can establish short position now since price action already below kumo cloud. More positions can be added when chikou span cut below the kumo cloud. Stop loss to place higher than the kumo cloud high. Take note of price action between 8-Oct to 10-Oct. Ideal situation is price action to maintain a distant away from the thin cloud during that period.
Update on the current EURUSD position. All short positions stopped out. Technical (Ichimoku) Tenkan-sen above jikun-sen, chikou span has already cut above jikun-sen, and penetrating above the kumo cloud. Thick kumo cloud ahead, providing good support to the price action forward Price action trading above the tenkan-sen and kumo cloud, a complete candle period above the kumo cloud. Strategy (Ichimoku) This is good to go for a long set up, cannot be more perfect. Establish long position above the kumo cloud, with stop loss level below the kumo cloud. NOTE: as this run up was after the First Friday "news" day, I would wait for Monday to go long. Aggressive takers may choose to establish position now.
As mentioned in previous post, planning to go long on Monday. Price is trading in the kumo cloud now, not really a good idea that the kumo cloud did not support the price action after the run-up last Friday. Technical (Ichimoku) Tenkan sen remains above kijun-sen, however, price is between tenkan and kijun sen, and also in the kumo cloud. Chikou-span also cutting back into the kumo cloud. Strategy (Ichimoku) Ideally, the kumo cloud should support the price action. Unfortunately it did not this time round. What we could look out is price action above tenkan-sen again, and look for a long when confirm by the price action. Aggressive taker can go for either way. If there is a fundamental input that will sway your decision, let that decision be now.
GBPUSD Ichimoku Strategy (Short) update This is an update from previous post. Perhaps luck played a part in this trade. After establishing short positions in the kumo cloud, the price action reverted upwards. Unlike the EURUSD, price action for the GBPUSD had never penetrated above the kumo cloud. Thereafter, touching just the cloud hi, the price action reversed and continued the downward movement. Technical (Ichimoku) Downtrend formed up in place. However, the thin kumo cloud ahead reflected that the resistance is not strong. Idea situation is price action trades below 16080 level. Strategy (Ichimoku) Short position takers can look for kijun-sen level for establishing short positions with stop loss above cloud hi.
Continue update from previous post. Price action had been choppy for the past periods since the positions established. Tenkan-sen had crossed over kijun-sen thrice, and chikou span had crossed over kijun-sen twice. These itself spelled the volatility of the price action. Technical (Ichimoku) Tenkan-sen currently is above the kijun-sen. However, they are converging, and tenkan-sen cutting below the kijun-sen is likely to happen, though not definite. The comfort is chikou span is below kijun-sen currently and it has just cut below the kijun-sen. Having said that, all lines are below the kumo top, and price action has retraced lower when it just breached the kumo top. Strategy (Ichimoku) The price action retracing from the kumo top indicated sellers are waiting to sell, but probably taking a very conservative view with minimal risk. Short position takers could establish small short position with stop a distant away from the kumo cloud.
This is a follow up to the previous post. Price action has been relatively choppy since the previous posting. There is no definite trend which side the price will be heading. Technical (Ichimoku) Tenkan-sen is above the kijun-sen, while price action is between tenkan-sen and kijun-sen. Chikou span is about to cut below the kumo cloud. The kumo cloud ahead is turning to be a supporting cloud. Strategy (Ichimoku) It could be any side. To go long or short. The only signal as per ichimoku is the tenkan-sen above the kijun-sen. However, that is not really a strong signal in the choppy market condition. Compared to to the price action below the kumo cloud, the chikou span cutting the kijun-sen and going below cloud low. Another short position added to increase the size.
The volatile price action had taken the positions out. Technical (Ichimoku) The price action had reversed in an accelerated manner after the last short position being established. Tenkan sen remained above the kijun sen, with the price action leading the reversal to above the kumo cloud. The current setting, price above the kumo cloud, tenkan sen above the kijun-sen and chikou-span above the kumo cloud, favour a strong buy signal. Strategy (Ichimoku) Based on the setting, it is a recommended buy. The only set back is the thin kumo cloud forming ahead, which also represents a weak support should the price action decides a reversal. New position taker might want to consider taking a conservative approach in establishing long positions. *On a side note: with NFP going to be announced tomorrow, might want to stay put at the moment.