Continued from previous ichimoku blog post. Established another long position at the cloud lo. Stop loss level remains the same. Technical Analysis (Ichimoku Charting) Price action pulled back after the long position established few days ago, going into the ichimoku cloud low level. Tenkan sen is above the kijun sen and above the cloud hi, whereas kijun sen is still below cloud lo. Chikou span while above the tenkan-sen and kijun-sen, remains below the ichimoku cloud lo. The forward Ichimoku cloud remains bullish, and it gets thinner. While another school of thoughts will probably looking to sell when price action below the ichimoku cloud lo, it can be, if ignoring the other ichimoku indicators. Price action itself took major strength to for a reversal from the recent low, resulting tenkan-sen cutting above kijun-sen, price action above the cloud hi, chikou span cutting above tenkan-sen and kijun sen, and the bearish cloud to bullish cloud. The threat for an emerging bearish sign will be considered when tenkan-sen below the kijun-sen. Forex Trading Strategies (Ichimoku Trading) Remain conservative, establish long position with stop loss below lowest cloud lo level forward. If tenkan-sen cut below kijun-sen, prepare for exit strategy. Alternative school of thoughts can consider going short below cloud low with stop loss above cloud high. Singapore Ichimoku Trader Trading Forex
An update from previous NZDUSD blog post and USDCAD blog post. All positions in the NZDUSD and USDCAD had been stopped out. No new positions established for the 2 pairs above. Fundamentally, indexes, metals, energy and currencies reacted to the event earlier this week by the Fed. Price action in the underlying reflected accordingly. Still holding positions in EUR, YEN and CHF. Trade according to plan. Singapore Ichimoku Trader Trading Forex
Yes, after recommendation from an expert trader i learnt this traditional indicator, its good to know the long term market trend and holds good in time frame of H1 and above. Helps to know dynamic support and resistance levels.
Ichimoku Trading Strategies for Forex EURUSD/USDCHF Stopped out USDJPY Closed out Both EURUSD and USDCHF stopped out. USDJPY closed out. Singapore Ichimoku Trader Trading Forex
Ichimoku Trading Strategies for Forex EURUSD/USDCHF Stopped out USDJPY Closed out Both EURUSD and USDCHF stopped out. USDJPY closed out. Singapore Ichimoku Trader Trading Forex
After existing previous short positions, established new long position in USDJPY. Tenkan-sen has cut above kijun-sen, and the forward cloud already turned bullish. Kijun-sen and chikou span remained in the ichimoku cloud, however, that did not really hinder the long position to be established. Technical Analysis (Ichimoku Charting) More confirmation signals from ichimoku charting itself, with both chikou span and kijun-sen out of the kumo cloud. It is now a bullish trend. Trading Strategies (Ichimoku Trading) Good to establish long position if one has not done so, with stop loss below cloud lo. Do not recommend short. And if preferred short, will be at least when price itself cut below kijun-sen, though it is still a bull call with price action above the kumo cloud. Singapore Ichimoku Trader Trading Forex
Continued from previous ichimoku blog on this trade. Price action has a good run up. Will see how the price action reveals itself. Technical Analysis (Ichimoku Charting) All ichimoku charting indicators are in bullish mode. A bullish trend till it changes Trading Strategies (Ichimoku Trading) Tenkan-sen maybe a good level to go for long entry. Stop loss remains below the cloud lo Singapore Ichimoku Trader Trading Forex