Established a long position when price action touched the ichimoku cloud low. Tenkan-sen had cut over kijun-sen, and chikou span had cut over both the tenkan-sen and kijun-sen. The forward ichimoku cloud still bearish then and thick. However, a break above the cloud will signify a good bull run. Technical Analysis (Ichimoku Charting) Price action has now pierced through the thick bearish ichimoku cloud, chikou span has also cut above the kumo cloud. The forward bullish cloud remains thin, and support to the price action will be a concern. This has been eased off by price itself cutting through the bearish kumo cloud. Trading Strategies (Ichimoku Trading) The kijun-sen seems to be providing support to the price action at 12950 on 2 previous occasions. Aggressive takers may consider long at tenkan-sen level, conservative will look at kijun-sen to establish long. Not likely to consider to go long near the kumo cloud top, as the cloud itself is thin. It may just be the turning point from bull to bear. Singapore Ichimoku Trader Trading Forex
Established a short position when the price action went into the ichimoku cloud, supported by the tenkan sen cutting below the kijun-sen, and chikou span approaching to cut the kijun-sen (it actually retraced upwards there after). Price action never really went above the ichimoku cloud, it came south, breaking the cloud lo, followed by chikou span cutting below cloud lo. Currently with go profit 400 pips ++. Technical Analysis (Ichimoku Charting) The downward move is gaining momentum, all indicators from the ichimoku indicated bear move now. The gap between the tenkan-sen and kijun-sen could signify further expansion of price action forthcoming. The forward bearish cloud has turned south sharply, providing the resistance needed. A thick cloud would be preferred though. Trading Strategies (Ichimoku Trading) Aggressive short to establish near the tenkan-sen, with stop loss above cloud. A wide stop, reduce the lot size to manage the risk. Or hold till 14-15 Jun to assess the price activity then. Singapore Ichimoku Trader Trading Forex
Continued from previous forex blog. Price action started to drifted lower since the last blog for USDCHF. Added another position when the price action pulled back to kijun-sen. Forex Technical Analysis (Ichimoku Charting) Tenkan-sen, kijun-sen and chikou span are all in the bearish territory. Together with the forward bearish kumo cloud, it provides strong resistance to the price action. Forex Trading Strategies (Ichimoku Trading) Kijun-sen or the cloud lo are favorable positions to add on more shorts with stop loss above the cloud hi. Singapore Ichimoku Trader Trading Forex
Continued from previous forex blog. Unfortunately could not wait till 14-15 Jun to assess the price action then. Since the last post, price action had a major pull back above the the kijun-sen. Added another short positions. There is now good profit to be taken, probably the question is at what level? Technical Analysis (Ichimoku Charting) All indicators from the ichimoku itself indicate bearish outlook. There is not bullish signal near term. The only weakest link in the bearish mood is the thin kumo cloud ahead. Forex Trading Strategies (Ichimoku Trading) It is better to take a conservative approach to establish new short position when price action is near the kijun-sen level with stop loss above the ichimoku cloud hi. Singapore Ichimoku Trader Trading Forex
Established a new position in NZDUSD. Technical Analysis (Ichimoku Charting) Tenkan-sen cut over the kijun sen while below the ichimoku cloud. Chikou span has also cut above the tenkan-sen and kijun sen. The forward bearish cloud is turning bullish. More important, price action is cutting above the ichimoku cloud. Forex Trading Strategies (Ichimoku Trading) Established long position, with stop loss below the cloud lo(west). Things to note ahead will be chikou span cutting above the ichimoku cloud and price action maintaining above cloud hi. Singapore Ichimoku Trader Trading Forex