Wednesday, November 9, 2011

EURUSD 08 Nov 2011 Ichimoku Trading

It was another day of news driven events in the Europe.

1. Price traded below the kumo cloud, with tenkan-sen cutting below jikun-sen, initiated a short position.

2. Planning to add on the position, placed a stop in order below the low of the price period form prior, similarly, around where chikou-span will cut below the kumo cloud. Unfortunately, or maybe fortunate enough, it was not triggered.

3. Price took a reversal, was stopped out when price traded above the kumo cloud.

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