An update from previous ichimoku blog's post. Technical Analysis (Ichimoku Charting) After establishing another position couple of days ago, price action was quite choppy thereafter. It had went into the ichimoku cloud, increasing the chance of a reversal should it trade below the ichimoku cloud. Tenkan-sen, kijun-sen had a cross over signaling the trend change, couple with the chikou span going below both the tenkan-sen and kijun-sen. However, just at the kumo cloud low, price action made another reversal upwards. Similarly, both the tenkan-sen and kijun-sen had a bullish trend cross over. More important, chikou span had also cut above both sen. Trading Strategies (Ichimoku Trading) No further elaboration is needed with the fact that both sens are in bullish direction couple with chikou span above boths sens and above the kumo cloud indicate a bullish view. The concerns ahead are the thin ichimoku cloud and a negative cloud prior to a positive cloud change. Aggressive trade will be to establish position with stop loss below the kumo cloud. Alternatively, a stop in above the recent high. Singapore Ichimoku Trader
An update from previous ichimoku blog post. A new high had established since last ichimoku blog post. However, price action formed a retreat after establishing new high. Technical Analysis (Ichimoku Charting) Tenkan-sen cut below kijun sen, and chikou span is now into the kumo cloud. Price action itself is into kumo cloud too. The forward bullish cloud is everything but encouraging due to its thinness. Trading Strategies (Ichimoku Trading) Stop loss level below the cloud will provide minimal risk if position on the long is established now. Short players may add on or establish position when price trades below the cloud with stop loss above the cloud. Maintaining my existing positions. Price itself will let you know if you are right or wrong. Manage the risk and let the profit grow when there is. Singapore Ichimoku Trader Trading Forex