This is the first write up for the USDJPY trades. 2 long positions were established last month, another just established earlier. Technical Analysis (Ichimoku Charting) USDJPY has been trending upwards since last October. The price action has been trending well with all the ichimoku indicators. It had only touched the cloud lo some time last November. Other times it has been well supported by the kijun-sen. The ichimoku cloud remains constantly thick forward looking, continue to see support from the ichimoku cloud to the price action. Trading Strategy (Ichimoku Trading) Decided to establish another long position since price action reacted when it touched the kijun-sen in the recent move. Until price reveals itself accordingly, will not recommend short. Ichimoku Trading
Established another short position on 13 Feb when price action touched kijun-sen. Currently holding 3 short positions at 1.0464, 1.0396 & 1.0340. Technical Analysis (Ichimoku Charting) Tenkan-sen and Kijun-sen converging towards each other below the ichimoku cloud.Chikou span failed to break the 26 periods high looking forward. The kumo cloud is thick for the periods ahead providing the resistance to the price action. Trading Strategies (Ichimoku Trading) The trend continues its downward movement. Price action needs to break above ichimoku cloud @ 1.0400 level for a change in trend direction. While it is not impossible, it is not likely till price action proves it itself. Entry for short may consider current with stop at above the kumo cloud, or may choose conservative entry near the kumo cloud low. Entry for long would only be considered when 1.0380 is breached and actual entry would only be consider when price action break 1.0400. Ichimoku Trading Blog
Update from previous post. All long positions stopped out with minimal profit. Technical Analysis (Ichimoku Charting) Price action had went below the ichimoku cloud lo, but bounced back into the kumo region. Tenkan-sen inline with kijun-sen, and chikou span had cut below the kijun-sen. None of the lines is below the ichimoku cloud. The forward cloud is beginning to show signs of change, awaiting further confirmation from the kumo cloud itself. Ichimoku Trading Strategies A change in trend will only be considered when chikou span cut below the ichimoku cloud. If not, still favour a long when should the price action emerge out from the ichimoku cloud hi. Aggressive taker can choose to go long or short now while price is in the kumo region, with stop loss at the other end of the cloud. Singapore Ichimoku Trader
An update from previous ichimoku post. After establishing the last short position on 21 Feb, price action did a reversal, touched the ichimoku cloud lo. It did not manage to penetrate through the cloud. Price continued to trend downwards to the target price level 10200. Will close out some position to lock in profit after this post. Technical Analysis (Ichimoku Charting) Tenkan sen, Kijun sen and Chikou span are all in line in bearish formation, very much a reflection of the downward trend of the price action. It is not likely to see a trend change in the near term. The forward ichimoku cloud in downward direction and remain relatively thick, providing resistance to the price action.. Trading Strategies (Ichimoku Trading) Do not recommend long. Any long will be looking at price action proving that a trend change emerging, that only when price action is between between 10280-10360 in near term. Look for short when price action reverse back to near Kijun sen, with stop loss above the ichimoku cloud hi. Singapore Ichimoku Trader
It has been quite some time since I last posted. I was busy relocating to my new home. Continue from the last ichimoku audusd post. I have squared off another position with some profit as can be seen on the up blue triangle. Current left with one open position, with stop loss at the red line level. Technical Analysis (Ichimoku Charting) Tenkan-sen is above the kijun-sen, and chikou span as cut above both the tenkan-sen and kijun-sen. And all remain below the ichimoku cloud. Price action itself has already cut above the ichimoku cloud though. The forward ichimoku cloud is thin, while it can provide support to the price action activities ahead. After such a quick strong trend dowards, a chikou span above the ichimoku cloud would be a more convincing trend change. Trading Strategies (Ichimoku Trading) Aggressive traders may choose to go long with stop loss below the ichimoku cloud. Similarly, for those with a view to go short, may consider to go short now, with stop loss near the red line level or a money stop loss Else, for long traders, look out for chikou span cutting above the ichimoku cloud. For short traders, await for price action to go below the ichimoku cloud again. Singapore Ichimoku Trader
An update from previous ichimoku audusd blog. Shortly after that blog, position was stopped out. A re-emtry was made that night when returned from work. Good profit, though could be better, from the audusd trades. Now having long position. Depending how the price action turns out, and how the ichimoku charting presents itself, to trade accordingly. Singapore Ichimoku Trader
Continued from previous post on the long audusd. Technical Analysis (Ichimoku Charting) Tenkan-sen, kijun-sen and chikou span showing respective bullish positions. Price action however has traded below the kijun-sen. Nevertheless, the ichimoku cloud has formed up and relatively thick, providing support to the current bullish trend. Trading Strategies (Ichimoku Trading) Long players may choose to enter position for long, with stops below the kumo cloud. Short position is not recommended, unless for fundamental reasoning. Singapore Ichimoku Trader
These positions remain open. Just for sharing purpose. On 9 Feb, decided to establish an aggressive position in EURUSD by going short while price action above the kumo cloud. It was based on tenkan sen below kijun sen, chikou span on kijun-sen, and price action below kijun-sen, and entry established near the kumo cloud hi. On 25 Feb, added another short position in EURUSD. A typical entry, awaiting the chikou span cutting below the kumo cloud lo, and near the kijun-sen. Price has been trending lower. The kumo cloud ahead is thin. There might not be resistance in the price action, and trend could be choppy going forward. Singapore Ichimoku Trader
A quick update from previous post. All positions closed out with profit. Establish new long position with stop - loss at 12800 level. Singapore Ichimoku Trader
As mentioned in previous post, established new position after closing out. Technical Analysis (Ichimoku Charting) A typical bull call for ichimoku charting technique, with the confirmation signal from the chikou span cutting above the kumo cloud. Ichimoku Trading Strategies A long established. Conservative entry can wait when price action reach tenkan-sen or kijun-sen with stop below kumo cloud. Singapore Ichimoku Trader