Friday, September 30, 2011
EURUSD 30 Sep 2011 Ichimoku Trading
Was not trading for the past 2 days due to work commitment.
Back to trading tonight for the last day of the month.
Price had been trading downwards earlier till 2000h. Was planning what trade to do for the night. Tenkan-sen cut above the jikun-sen while above the kumo cloud. The chikou span also cut above the kumo later, there was opportunity to go long at around 2030h. Knowing there was a number of news, was stepping a side.
After 2030h, relook at the ichimoku charting, an opportunity was forthcoming...
Tenkan-sen cut below Jikun-sen while above kumo cloud. The price went into the kumo cloud, and Chikou Span had yet cut below the cloud completely.
Placed a stop in order (50%) just below the cloud, was stopped in the next moment.
Placed another stop in order (50%) below the low of the kumo cloud, was stopped in the next moment.
Price began to trade lower. Set a target profit to close 50% of the position. It was hit
Set another target profit to close 50% of remaining position (25%). It was hit
The remaining was stop loss, it was stopped out.
Called it a day...