Wednesday, July 13, 2011

EURUSD 13 JUL 2011 - 1















Initiated a short position in EURUSD @ 1.4004.

There is very strong signal from the ichimoku itself to initiate the short position.

The tenkan-sen has cut the kijun-sen while the price is trading above the kumo cloud. A signal indicating a change in trend.

The price itself cut the Kumo cloud from subsequently, a further indication that the change in trend is imminent.

The chikou-sen has also clearly formed below the historical price action.

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