Continued from previous post. Price action has been giving a wild swing. It is now above 13200 level. Positions have been established around 13090, 13050, 13200 & 13215 with stop loss @ 13250. Again, may be stopped out soon. Technical Analysis (Ichimoku) Tenkan-sen is converging towards kijun-sen, but yet to cut over. And both tenkan-sen and kijun sen are below the kumo cloud. However, chikou span has already cut the kumo cloud hi, but yet to cut tenkan-sen and kijun-sen. Price action itself is above the kijun-sen and below the kumo cloud. Strategy (Ichimoku) As with the very first post, opportunities arise below 13050 and above 13100-13200 where the thin kumo cloud is, which provided low resistance and support to the price action. It is happening now. With price action below the thin kumo cloud, it is still a bear trend. Sellers can add short with very limited risk just above the cloud hi. Buyers may want to hold till the confirmation of the price action above the cloud hi. Do take note of the forward cloud support level at 13150. Ichimoku Trading Blog
Not the best way to start off the new year. This is continued from previous post. All positions stopped out. Technical Analysis (Ichimoku Charting) Tenkan sen is above the kijun sen and diverging away. Chikou span is above the kumo cloud. Forward cloud is moving upwards but remains relatively thin. Trading Strategy (Ichimoku Trading) The move upward by the price action was rapid. If consider going long, would probably start establish position when tenkan-sen converge towards kijun-sen. Ichimoku Trading Blog
It has been quite some time since the last post. Forex movement had been quite choppy in the past few days. Had been on the look out and spotted an opportunity in the USDCAD. Technical Analysis (Ichimoku Kinko Hyo) Price action had been choppy for the last few period while below the ichimoku clouds. Tenkan-sen cut above the kijun in the last few periods while below the ichimoku clouds. Price action had accelerated upwards in the last 2 periods, and penetrated above the ichimoku clouds. More important, chikou span cut above both the tenkan-sen and kijun-sen, and the cloud bottom (chikou span A). The forward ichimoku cloud is thick, good support if price action retraces back. Trading Strategy (Ichimoku Chart) Had established a long position with stop loss below the lowest ichimoku clouds level @ 0.9840. May want to consider adding more position if price action falls back to 0.9895 level. Will see how price action reveals itself. Shorts not recommended. Ichimoku Trading Blog
GBPJPY has had a good run for the past few months. Price action finally went below the ichimoku cloud lo. Technical Analysis (Ichimoku Kinko Hyo) Tenkan sen is now below kijun-sen, both are in the kumo cloud range. Chikou span had cut below the kijun sen, and penetrated below cloud hi into the kumo. There is still some distant not far away from the cloud lo. The forward cloud also demonstrated a change, the short term senkou span A is cutting below the long term senkou span B. More important, price action already below cloud lo. Trading Strategy (Ichimoku Charting) A very good opportunity to start establish short position with stop loss above the cloud hi. The best ideal case is for the price action falling below 139.35 within the next 5-7 days. Ichimoku Trading
Continued from the earlier post, it was another choppy session for the GBPJPY. The price action downwards was short lived. The position was stop out. Technical Analysis (Ichimoku Kinko Hyo) Tenkan-sen is in the process of going over kijun-sen, with both lines taking the action in the kumo cloud.. Chikou span is bullish by mean of cutting tenkan-sen and kijun-sen. More important, breaking new 26 periods high. The kumo forward is not relatively thin or thinck. However, it does show the short term trend is edging upwards. Trading Strategy (Ichimoku Charting) While price itself is bullish, it remains to be seen. With tenkan-sen and kijun-sen in the cloud, it may pull back the pricing action to a more equilibrium state. If long bias, establish long only near the cloud hi., else find other market. Ichimoku Trading Blog
An update from the previous post on the USDCAD forex position. Since establishing the position, the price action consolidated for a couple of periods before exploding up north breaking the 1.0000 level. Technical Analysis (Ichimoku Kinko Hyo) Every components within the ichimoku chart is very bullish. The ichimoku cloud has also raised the support level in the periods to come. Trading Strategy (Ichimoku trading) If position already established, stay put. If not in position, nearest support level to establish new long position will be at 1.000 level as of now. Depending how the price action in the coming periods, the likelihood of a consolidation for the price activities is high. Ichimoku Trading Blog
I used Ichimoku before when I was working with Japanese trader in Tokyo. One good thing about Ichimoku is that it allows you to stay in a trade when market is trending, allowing you to take most of the trend, but when market is chopping, you can get whipsawed easily
Established a short position in AUDUSD few periods ago when it traded below the ichimoku cloud. Price action since then has been drifted downwards. Technical Analysis (Ichimoku Kinko Hyo) Tenkan sen is just below the kijun sen, both heading southward going to break the ichimoku cloud lo. Chikou span had cut below the ichimoku cloud lo for quite some periods. The forward cloud is thick and turning bearish. Trading Strategy (Ichimoku Trading) Depending how the price action in the next few periods, these is not much trading opportunity. Any increase interest in the audusd activities will probably see saw the price action. Watch out. Ichimoku Trading Blog
Price action rallied since establishing the position on 18 January, it reached its top at 1.0100. Technical Analysis (Ichimoku Charting) After rallying to its recent top in the last few periods, price action retraced downwards to the current level. Tenkan sen has also cut below the kijun-sen. Chikou span has now cut the tenkan sen while maintaining above the kijun-sen. All remain above the ichimoku cloud. The forward cloud is getting thicker for the next few periods. Trading Strategies (Ichimoku Trading) With price action above the ichimoku cloud, the immediate short term to mid term view remains bullish. While the immediate sign from tenkan sen cutting below kijun sen represent a change in trend, this change probably is view as a retrace from the recent high established by the price itself. Long position added with stop loss level below the cloud. Any real shorts, consider only when below 9940. Ichimoku Trading
Price action has been falling south since position first established below the cloud. It had briefly touch the ichimoku cloud low again some time 30/311 January 2013. Nevertheless, it has drifted lower since then. Has added another position in the last few periods. Price has drifted lower by almost 100 pips. Technical Analysis (Ichimoku Charting) Tenkan sen converges towards kijun-sen after widening seen in the last few periods. Price action has also lowered quite a distant away from both the tenkan-sen and kijun-sen. Chikou span remains below tenkan-sen and kijun sen. More important, it is below among the 26 periods forward. The ichimoku cloud is tilting southwards and getting thicker. The thick ichimoku cloud will provide the resistance to the price action if it trends upwards. Trading Strategy (Ichimoku Trading) Resistance level anticipated around 1.0380. Dun recommend long, if need to, entry with fixed stop, target profit level at below the cloud. Else, await for opportunity, go for short near tenkan-sen level with stop loss above ichimoku cloud. Ichimoku Trading Blog