Thursday, November 24, 2011

USDJPY 22 November 2011 Ichimoku Trading (Continued)















Continued from the post where the position was established earlier for mid term trade based on 8hr period.

1. The position was initiated and established when the tenkan-sen was about to cut the jikun-sen while below the kumo cloud.

2. The tenkan-sen cut above the jikun-sen while below the cloud, giving the first signal to establish a long position.

3. Chikou span had also cut the tenkan-sen, and approaching to cut the jikun-sen. A good signal to couple with the signal tenkan-sen cutting above jikun-sen while below the cloud.

Continued to hold the position.

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