Tuesday, September 27, 2011

EURUSD 27 Sep 2011 Ichimoku Trading



Like yesterday, price had been trending upwards before 2000h. It started to trade in range after 2000h.

Tenkan-sen cut below Jikun-sen just after 2000h. The price never moved much from there onwards, but trending lower in a gradual manner.

The price moved into the kumo cloud region, and finally cut through the kumo cloud. However, chikou-span had yet cut through the cloud.

Chikou-span traded below the cloud just before 2100h. The price appeared to be consolidation mood. It was noted that tenkan-sen was about to cut jikun-sen, decided to take a conservative position instead to short at the market.

The price never traded lower, it went the other way, up north. Was stopped out.

A loss day, called it a day.

Review: To note that if chikou span cut below the cloud when tenkan-sen about to cut above the jikun sen (While below the cloud), stay out....or long?

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