As per previous post mentioned, there was a pull back in price action to new the cloud hi. Price action actually went into the kumo cloud, and emerged out from the kumo cloud again on the upside. Decided to add another long position as tenkan sen cut above the jikun sen. The forward cloud is thin. Will need to watch out price action activity around that period. Technical (Ichimoku) Tenkan-sen cut about jikun-sen while in the kumo cloud. Price action is clearly above the cloud. Chikou span has cut the tenkan sen and jikun sen, and looking to cut above 26 period price high. The chikou span provides a clear picture between present price action and past price action activities. What is has demonstrated at one glance is the current price activities compared to 26 periods price activities from the current period. The question now is will there be more shorts joining the EURUSD or there will be more shorts exiting the EURUSD. From the chikou span, one could observe within 26 periods, price action fell sharply before making a U turn when it went into the kumo cloud. Existing shorts within these 26 periods will have to make a decision, to stay or to exit or to add? New positions taker will have to decide to go with long or short? Strategy (Ichimoku) For long, current price level is strategic to go long. For conservative, may want to wait till when price action went above 13130. For short, aggressive taker may choose to go short and place stop loss above 13130. Else, it may be better to wait till price action goes below the cloud. Ichimoku Trading
Continued update from previous post. As mentioned previously, price level to look at when tenkan-sen cut above the jikun-sen or near the kumo cloud hi. Price action never fell back to kumo cloud high, but opportunity came when tenkan-sen cut above the jikun-sen. Established another long position to the existing long positions. Technical (Ichimoku) All ichimoku signals favor a bullish uptrend. Tenkan sen cut above the jikun sen while above the kumo cloud, chikou span above the kumo cloud, jikun-sen, and most of all, looking to go above within the 26 periods high forward to the current price. The only not so favorable situation is the forward cloud is not thick enough. A thick kumo cloud would give strong support to the price action forward. Strategy (Ichimoku) If long, stay put. May want to look to long at tenkan sen and jikin sen level. Not recommended to go short. If any, aggressive taker may want to short once tenkan-sen cut below jikun sen. Ichimoku Trading
This was another sharing trades for NZDUSD. Took the opportunity to go long on 27 November when price action was trading just above the kumo cloud. Had actually added another positions on the 4 December, which was not reflected after that position was closed earlier this evening. Profit of 201 pips. Still have another long position established on 27 December. Will take opportunity to square off the position. Ichimoku Trading
An update to the positions established in GBPUSD. Closed out the last position established on 12 December. It was established when Tenkan Sen cut above the Jikun-Sen as mentioned in the earlier ichimoku trading post. It is likely to plan for exit strategy for the remaining positions as I will be going for my year end holiday. Ichimoku Trading Blog
As per mentioned in earlier post on NZDUSD, will take opportunity to close out or exit NZDUSD. Looking at the tenkan-sen meeting the jikun-sen, had taken the opportunity to exit and close out all NZDUSD position. Technical (Ichimoku) Tenkan-sen and Jikun-sen converging and likely to have a cross over. Chikou span is also looking to first cut the tenkan-sen. Thick kumo cloud ahead translating a strong support or resistant depending how the price action react the way forward. Strategy (Ichimoku) Where there are signs for short, trend remains upward as long as price action above the kumo cloud. Aggresive short bias may start establishing short position with stop loss above the highest high between now to chikou span. Another opportunity to go short is when chikou span cut below tenkan sen, follow by price action cutting below kumo cloud. Aggresive long may start to build position now with stops loss just below the kumo cloud low. Otherwise, wait till price action above the tenkan sen. Ichimoku Trading
After taking profit a couple of days ago, price action made a U turn. As mentioned, planning for my exit since going for my year end holiday, all positions were stopped out for the stop loss level placed below the Jikun-sen. Good profits for all the positions built up since 21 November. Merry Christmas and Happy New Year. Ichimoku Trading Blog
Last post for the year. This is an update to the EURUSD positions established since 21 November 2012. The last post was made on 14 December after adding another position when tenkan sen cut above the jikun-sen. The very first position was established on 21 November, when price action penetrated into the kumo cloud, with chikou span cutting above jikun sen. Continued to established more positions as price action keep trending upwards. After Price itself established as earlier peak on 6 Dec, had took partial profit on the positions established earlier. Thereafter, established 2 more positions, one when price traded near the kumo cloud top, the other when tenkan sen cut above jikun sen again. Stop loss level is now adjusted to below the jikun-sen. If stop out, all positions will lock in profit pips as shown. Once again, merry christmas & happy new year. Ichimoku Trading Blog
A very happy new year. Came back from holidays yesterday night. As per previous post, placed a stop loss below the kijun-sen. Stop loss triggered earlier today. The only difference was the stop loss level was in the mid of the kumo cloud. As with the new year, wish every traders another prosperous year. Ichimoku Trading Blog
The first trade of the year 2013! Price action has been moving uptrend since the cross over the kumo cloud. Consolidation was formed since mid December 2012, before the break off yesterday (Probably due to the intermediate resolution to the fiscal cliff). Technical (Ichimoku) Tenkan-sen and kijun-sen converged and pointed downwards into the kumo cloud. Chikou span had already cut below the kijun-sen, but remains above the kumo cloud. The forward kumo cloud is getting thinner, resistance may not be strong. Price itself had penetrated into the cloud but yet form a period below the cloud lo. Strategy (Ichimoku) With no existing position, established a small short position just at cloud lo. Depending how the price reveals itself in the next few periods, opportunities arise between 13100-13200 or when below 13050. Stop loss level above cloud hi. Ichimoku Trading Blog
As mentioned on previous post, opportunities arise when below 13050. Price action accelerated downwards after the position established the day before. However, there was pulled back earlier during the US session. Established another short position. Technical Analysis (Ichimoku) Tenkan-sen and kijun-sen remained intact and on its way penetrating through the kumo cloud lo. Chikou span had cut through the cloud lo, but reversing back into the cloud region. Price action is now clearly below the kumo cloud lo. The Kumo ahead remains thin. Strategy (Ichimoku) Continue to remain cautious with the thin kumo cloud ahead. Very much is dependent on the price action activity at the thin cloud region. Any increase in position will be done gradually if there is any pull back in price action to near the kumo cloud lo. Ichimoku Trading Blog