EURUSD Ichimoku Strategy since 21-Nov-2012 #6

Last post for the year. This is an update to the EURUSD positions established since 21 November 2012. The last post was made on 14 December after adding another position when tenkan sen cut above the jikun-sen.

The very first position was established on 21 November, when price action penetrated into the kumo cloud, with chikou span cutting above jikun sen.

Continued to established more positions as price action keep trending upwards. After Price itself established as earlier peak on 6 Dec, had took partial profit on the positions established earlier.

Thereafter, established 2 more positions, one when price traded near the kumo cloud top, the other when tenkan sen cut above jikun sen again.

Stop loss level is now adjusted to below the jikun-sen. If stop out, all positions will lock in profit pips as shown.

Once again, merry christmas & happy new year.

GBPUSD Ichimoku Trading since 21 Nov 2012

After taking profit a couple of days ago, price action made a U turn. As mentioned, planning for my exit since going for my year end holiday, all positions were stopped out for the stop loss level placed below the Jikun-sen. Good profits for all the positions built up since 21 November.

Merry Christmas and Happy New Year.

NZDUSD Ichimoku Trading Closed out

As per mentioned in earlier post on NZDUSD, will take opportunity to close out or exit NZDUSD.

Looking at the tenkan-sen meeting the jikun-sen, had taken the opportunity to exit and close out all NZDUSD position.

Technical (Ichimoku)

Tenkan-sen and Jikun-sen converging and likely to have a cross over. Chikou span is also looking to first cut the tenkan-sen. Thick kumo cloud ahead translating a strong support or resistant depending how the price action react the way forward.

Strategy (Ichimoku)

Where there are signs for short, trend remains upward as long as price action above the kumo cloud. Aggresive short bias may start establishing short position with stop loss above the highest high between now to chikou span. Another opportunity to go short is when chikou span cut below tenkan sen, follow by price action cutting below kumo cloud.

Aggresive long may start to build position now with stops loss just below the kumo cloud low. Otherwise, wait till price action above the tenkan sen.

GBPUSD Ichimoku Trading since 21 Nov 2012

An update to the positions established in GBPUSD.

Closed out the last position established on 12 December. It was established when Tenkan Sen cut above the Jikun-Sen as mentioned in the earlier ichimoku trading post.

It is likely to plan for exit strategy for the remaining positions as I will be going for my year end holiday.

NZDUSD Ichimoku Trading

This was another sharing trades for NZDUSD.

Took the opportunity to go long on 27 November when price action was trading just above the kumo cloud. Had actually added another positions on the 4 December, which was not reflected after that position was closed earlier this evening.

Profit of 201  pips. Still have another long position established on 27 December November. Will take opportunity to square off the position.

GBPUSD Ichimoku Trading since 21 Nov 2012

Continued update from previous post.

As mentioned previously, price level to look at when tenkan-sen cut above the jikun-sen or near the kumo cloud hi. Price action never fell back to kumo cloud high, but opportunity came when tenkan-sen cut above the jikun-sen. Established another long position to the existing long positions.

Technical (Ichimoku)

All ichimoku signals favor a bullish uptrend. Tenkan sen cut above the jikun sen while above the kumo cloud, chikou span above the kumo cloud, jikun-sen, and most of all, looking to go above within the 26 periods high forward to the current price. The only not so favorable situation is the forward cloud is not thick enough. A thick kumo cloud would give strong support to the price action forward.

Strategy (Ichimoku)
If long, stay put. May want to look to long at tenkan sen and jikin sen level.

Not recommended to go short. If any, aggressive taker may want to short once tenkan-sen cut below jikun sen.

EURUSD Ichimoku Strategy since 21-Nov-2012 #5

As per previous post mentioned, there was a pull back in price action to new the cloud hi. Price action actually went into the kumo cloud, and emerged out from the kumo cloud again on the upside.

Decided to add another long position as tenkan sen cut above the jikun sen. The forward cloud is thin. Will need to watch out price action activity around that period.

Technical (Ichimoku)

Tenkan-sen cut about jikun-sen while in the kumo cloud. Price action is clearly above the cloud. Chikou span has cut the tenkan sen and jikun sen, and looking to cut above 26 period price high.

The chikou span provides a clear picture between present price action and past price action activities. What is has demonstrated at one glance is the current price activities compared to 26 periods price activities from the current period.


The question now is will there be more shorts joining the EURUSD or there will be more shorts exiting the EURUSD.

From the chikou span, one could observe within 26 periods, price action fell sharply before making a U turn when it went into the kumo cloud.

Existing shorts within these 26 periods will have to make a decision, to stay or to exit or to add?

New positions taker will have to decide to go with long or short?


Strategy (Ichimoku)

For long, current price level is strategic to go long. For conservative, may want to wait till when price action went above 13130.

For short, aggressive taker may choose to go short and place stop loss above 13130. Else, it may be better to wait till price action goes below the cloud.

GBPUSD Ichimoku Trading since 21 Nov 2012

Continue update from previous post.

After establishing the positions earlier, price action made a move upwards, and began to pull back to below the jikun-sen.

Established another long position when the price traded near the kumo cloud hi.

Technical (Ichimoku)

Price action remains above the kumo cloud, with tenkan-sen crawling to climb over the jikun-sen. Chikou span has remained in the bullish region by maintaining above the jikun sen.

Strategy (Ichimoku)

Opportunity to go long with price action above the kumo cloud. Price level to look at when tenkan-sen cuts above jikun-sen. or near the kumo cloud high. Placed stop loss below cloud lo.

EURUSD Ichimoku Strategy since 21-Nov-2012 #4

It had been quite a volatile week for the Euro.

After establishing new position as mentioned in previous post, the price action had an upward movement to near 13130 level. that followed by a reversal or retraction to where the price now (12920 level as being check at this instant)

Some positions had been square off to lock in profit for the position established earlier. Also new position had been established when price action went below the jikun sen.

Technical (Ichimoku)

Price action remains around the kumo cloud top, which mean the kumo cloud support comes in play near this level, and the uptrend remains in tact.

However, tenkan-sen is converging towards jikun-sen, and likely to cross under the jikun-sen, the very first signal to go short (if one wants to).

Chikou span still above the tenkan sen, and likely to go below tenkan sen soon.

Strategy (Ichimoku Trading)

The next few periods of the price action will be significant.

Long position takers may choose this window to go long. With the kumo cloud support, price action should reveal accordingly.

Short position takers may start to establish small short position with aim of increasing more short position should price action goes below the cloud.

See how the price action comes about.

GBPUSD Ichimoku Trading

Sharing some trades for GBPUSD.

The very first position was taken when price action started to penetrate into the kumo cloud. During then, tenkan-sen had cross over the jikun-sen, and chikou span had cross over the tenkan-sen. Based on these two early signals from the ichimoku strategies, with price piercing through the kumo cloud, long one position.

The second trade was a conservative approach. Tenkan-sen above the Jikun-sen, chikou span above jikun-sen and above the kumo cloud, and price action penetrating above the top of the kumo cloud. Established the second position.

The third and last trade as of now, was established when price action touching the top of kumo cloud. This was add on to the long positions.

Stop loss level below the kumo cloud.

Depending how price action reveals, will react accordingly.

EURUSD Ichimoku Strategy since 21-Nov-2012 #3

Continued from yesterday's post.

Have added another long position when price action retraced back to where the tenkan-sen.

Ichimoku Technical

Looking forward, tenkan sen and jikun sen are converging, with a higher and thicker kumo ahead. Price action is anticipated to have consolidation around 13000 and above 12970.

Ichimoku Trading Strategy

Depending how the price action unveils itself, long position preferred. Can look to establish long position near the tenkan sen level, or when tenkan sen and jikun sen meet.

EURUSD Ichimoku Strategy since 21-Nov-2012 #2

This is an update from previous post.

Ichimoku Technical

After the earlier up move above the kumo cloud, price action retraced back to near the jikun-sen, now above the tenkan-sen. The thick kumo cloud ahead provides the support to keep the price level up. All ichimoku trading signals give a good uptrend momentum.

Ichimoku Trading Strategy

Continue to see opportunity to establish long positions when price action retrace to tenkan-sen or jikun-sen. Stop loss level to be below cloud.

EURUSD Ichimoku Strategy since 21-Nov-2012

The EURUSD price action had been volatile for the past few weeks, fundamentally and technically.

Ichimoku Technical

The very recent move of the price action revealed an accelerated upward move.

Prior to that, tenkan-san cut above the jikun sen some distant below the kumo cloud low. The price action itself began to move above the jikun-sen and tenkan sen and quickly into the kumo cloud region.

The chikou span also cut above the jikun-sen, while below the kumo cloud.

Ichimiku Strategy

Established a long position in EURUSD while the chikou span cut above the jikun-sen, a recut if technically speaking.

Looking forward,  depending how the price action reveals itself, a touch at the tenkan-sen could provide opportunity to go long.

NZDUSD Ichimoku Strategy (Short) update

This was an update to previous post for the kiwi.

Price action was choppy since the trade established some time ago. There was no momentum in the downtrend.

From the ichimoku charting itself, only tenkan-sen is over kijun-sen while below the kumo cloud. The cloud ahead is not too promising to be a good resistance to the price action itself.

Position closed out after assessing the price action and the surrounding environment.

No losses, except time in the position.

GBPJPY Ichimoku Trading Strategy Short on 08-Nov-2012 #02

This is an update to previous post established for GBPJPY

As can see from the ichimoku chart, price accelerated downward after establishing the position. Unfortunately, there was no strength in the sell down due to monetary policy with the Japan Government. Fundamental came into play.

Position was stopped eventually.

NZDUSD Ichimoku Strategy (Short)

Have not traded the kiwi for some time. Was looking around the currency pairs. Decided to have a position for this NZDUSD

Technical (Ichimoku)

Tenkan-sen is currently inline with Kijun-sen, and above the kumo cloud. However, price itself accelerated downward, penetrating the kumo cloud, and now trading below the cloud low. Chikou span has also penetrated below the cloud low due to the price action.

Strategy (Ichimoku)

In general, price action below the cloud low denotes a short. An idea situation will be the price action cutting below the Tenkan sen, the tenkan sen cutting below the kijun-sen, and all trading below the cloud gradually, with chikou span cutting below cloud low as best signa.

Short position has been established. It was established during a pull back and near the cloud lo. Depending how the price unfolds, can look forward to add more position.  The AUD and NZS usually trend well.

GBPJPY Ichimoku Trading Strategy Short on 08-Nov-2012 #01

Was looking around for a position trade, and found GBPJPY. Not the usual currency pair, nevertheless an opportunity underlying.

Technical (Ichimoku)
Tenkan sen just cut below the kijun-sen and chikou span below the kijun-sen. Price itself was in the kumo cloud, and a rising kumo cloud ahead.

Strategy (Ichimoku)
Took a short position, establishing it while price action was in the kumo cloud. Not a strong short signal, entry with small sizing, with stop loss above the forward cloud hi.

GBPUSD Ichimoku Strategy (Short) update

The volatile price action had taken the positions out.

Technical (Ichimoku)

The price action had reversed in an accelerated manner after the last short position being established. Tenkan  sen remained above the kijun sen, with the price action leading the reversal to above the kumo cloud. The current setting, price above the kumo cloud, tenkan sen above the kijun-sen and chikou-span above the kumo cloud, favour a strong buy signal.

Strategy (Ichimoku)

Based on the setting, it is a recommended buy. The only set back is the thin kumo cloud forming ahead, which also represents a weak support should the price action decides a reversal.

New position taker might want to consider taking a conservative approach in establishing long positions.

*On a side note: with NFP going to be announced tomorrow, might want to stay put at the moment.

GBPUSD Ichimoku Strategy (Short) update

This is a follow up to the previous post.

Price action has been relatively choppy since the previous posting. There is no definite trend which side the price will be heading.

Technical (Ichimoku)

Tenkan-sen is above the kijun-sen, while price action is between tenkan-sen and kijun-sen. Chikou span is about to cut below the kumo cloud. The kumo cloud ahead is turning to be a supporting cloud.

Strategy (Ichimoku)

It could be any side. To go long or short. The only signal as per ichimoku is the tenkan-sen above the kijun-sen. However, that is not really a strong signal in the choppy market condition. Compared to to the price action below the kumo cloud, the chikou span cutting the kijun-sen and going below cloud low.

Another short position added to increase the size.

GBPUSD Ichimoku Strategy (Short) update

Continue update from previous post.

Price action had been choppy for the past periods since the positions established.

Tenkan-sen had crossed over kijun-sen thrice, and chikou span had crossed over kijun-sen twice. These itself spelled the volatility of the price action.

Technical (Ichimoku)

Tenkan-sen currently is above the kijun-sen. However, they are converging, and tenkan-sen cutting below the kijun-sen is likely to happen, though not definite. The comfort is chikou span is below kijun-sen currently and it has just cut below the kijun-sen.

Having said that, all lines are below the kumo top, and price action has retraced lower when it just breached the kumo top.

Strategy (Ichimoku)

The price action retracing from the kumo top indicated sellers are waiting to sell, but probably taking a very conservative view with minimal risk.

Short position takers could establish small short position with stop a distant away from the kumo cloud.

GBPUSD Ichimoku Strategy (Short) update

This is an update from previous post.

Perhaps luck played a part in this trade. After establishing short positions in the kumo cloud, the price action reverted upwards. Unlike the EURUSD, price action for the GBPUSD had never penetrated above the kumo cloud. Thereafter, touching just the cloud hi, the price action reversed and continued the downward movement.

Technical (Ichimoku)

Downtrend formed up in place. However, the thin kumo cloud ahead reflected that the resistance is not strong. Idea situation is price action trades below 16080 level.

Strategy (Ichimoku)

Short position takers can look for kijun-sen level for establishing short positions with stop loss above cloud hi.

EURUSD Ichimoku Strategy

As mentioned in previous post, planning to go long on Monday.

Price is trading in the kumo cloud now, not really a good idea that the kumo cloud did not support the price action after the run-up last Friday.

Technical (Ichimoku)

Tenkan sen remains above kijun-sen, however, price is between tenkan and kijun sen, and also in the kumo cloud. Chikou-span also cutting back into the kumo cloud.

Strategy (Ichimoku)

Ideally, the kumo cloud should support the price action. Unfortunately it did not this time round. What we could look out is price action above tenkan-sen again, and look for a long when confirm by the price action.

Aggressive taker can go for either way. If there is a fundamental input that will sway your decision, let that decision be now.

The Making of an Ichimoku Trader: An Interview with Bryan Wee

I would like to take this opportunity to thank Andrew Beattie from Forexdictionary.com for taking the time to carry out an interview with me. Greatly appreciated.

Download Article: The Making of an Ichimoku Trader

EURUSD Ichimoku Strategy (Short) stop out

Update on the current EURUSD position.

All short positions stopped out.

Technical (Ichimoku)

Tenkan-sen above jikun-sen, chikou span has already cut above jikun-sen, and penetrating above the kumo cloud.

Thick kumo cloud ahead, providing good support to the price action forward

Price action trading above the tenkan-sen and kumo cloud, a complete candle period above the kumo cloud.

Strategy (Ichimoku)

This is good to go for a long set up, cannot be more perfect.

Establish long position above the kumo cloud, with stop loss level below the kumo cloud.


NOTE: as this run up was after the First Friday "news" day, I would wait for Monday to go long. Aggressive takers may choose to establish position now.

GBPUSD Ichimoku Strategy (Short) new

Sharing another ichimoku trade(s).

This was aggressive positions taking.

First position was taken when price penetrated into the kumo cloud, coupled with first signal that tenkan-sen already cut below jikun-sen.

Second position was taken when chikou span cut below the jikun-sen. Price action was in the mid of the kumo cloud.

Third position was taken when tenkan-sen diverge from jikun-sen (again) while in the kumo cloud.

The above positions were taken in aggressive manner.

Technical (Ichimoku)

Tenkan sen has already cut below the jikun sen, and chikou span also cutting below jikun-sen. While price action already below kumo cloud, chikou span still yet to cut below the kumo cloud.

The kumo cloud is getting thinner prior to a thick cloud formation ahead.

Strategy (Ichimoku)

Aggressive position takers can establish short position now since price action already below kumo cloud. More positions can be added when chikou span cut below the kumo cloud.

Stop loss to place higher than the kumo cloud high.

Take note of price action between 8-Oct to 10-Oct. Ideal situation is price action to maintain a distant away from the thin cloud during that period.

EURUSD Ichimoku Strategy (Short) new

This is continued from previous post.

After initiated short positions few days ago, continued aggressively to add on new position when price penetrated through the kumo cloud. There was no full period under the cloud, position established in aggressive manner.

Technical (Ichimoku)

Price action reverted back into the kumo cloud showing uncertainty to the direction of the price itself. While tenkan-sen was below jikun sen, possibility of a cross over seem to happen. And chikou span is looking to cut tenkan sen, showing the weakness in the downward move.

The kumo cloud is getting thinner ahead, chances of price cutting above is there.

Strategy (Ichimoku)

If not in position, stay out.

Look out for price action below and above the Kumo Cloud.

EURUSD Ichimoku Strategy (Short) new

These were new positions established recently after closing off all long positions.

Technical (Ichimoku)

Tenkan-sen has cut below jikun-sen for quite some time while above the kumo cloud. Price action followed through and penetrated into the kumo cloud. Chikou span has also cut below the jikun-sen.

Ideally, price action continues to trade below the kumo cloud, follows by the chikou span cutting below the kumo cloud.

Strategy (Ichimoku)

Short position has been established when price entered into the kumo cloud, taking an aggresive view. Another short position has been added when price action trading new the kumo cloud lo.

Stop loss is placed above the cloud hi.

A thick cloud provide good resistance and support in both ways. Depending how the price action unveils, short position can be added when price action goes below the cloud, or chikou span goes below the cloud.

AUDUSD Ichimoku Strategy (Long)

The AUDUSD had been stopped out, with a loss.

The loss has been minimized from the initial position as the kumo cloud shifted higher from where it was.

AUDUSD Ichimoku Strategy (Long)

This is an update from previous post.

Price action does not seem to favor the long position established. The rally was short lived.

Technical (Ichimoku)

Tenkan-sen cutting below the jikun-sen, with price actin going below the tenkan-sen. And the price action, tenkan-sen & jikun-sen is now in the kumo cloud region. Chikou span has also cut below the jikun-sen, but not yet creating the lowest low among the periods forward.

Strategy (Ichimoku)

Stop loss level has been raised from previous level, below the kumo cloud and just below the most recent low formed by the price action.

Aggressive position traders can go with a short, with stop loss level above the kumo cloud.

Other levels to consider shorts: when price action traded below the kumo cloud, Or when chikou span cut below the most recent lows.

Do not suggest to go long. Might consider only when price action revert up and cut above the kumo cloud.

EURUSD Ichimoku Strategy (Long) update

This is another update from previous post.

All positions closed. Price action has pierce into the kumo cloud. Those down arrows were all the price which positions were closed gradually.

If you have been following, long positions had been established more than a month back.

Cheers.

USDCAD Ichimoku Trading Strategy (Short) Sharing

This is an update to previous post.

All positions have been closed, based on price action going above the kumo cloud.

Looking back, the positions had been established since end July, couple of positions added along the way, and closed with good profit.

Cheers.

AUDUSD Ichimoku Strategy (Long)

This was a new position established few day ago on AUDUSD.

Not the best setup of all, but good enough to call for a long entry.

Price action was trending upwards and hitting kumo cloud lo, it went into the kumo cloud region, and trade near the cloud lo region.

Tenkan-sen began to cross over the Jikin-sen and diverged out showing strength of the upwards momentum. Price itself was trending upwards after hovering around the cloud lo.

Chikou Span also crossed above the jikun-sen, giving strong signal of the reversal.

Price action also began to pierce through the cloud hi.

Should the chikou-span crossed above the cloud hi would be a perfect set up then. (Chikou span eventually traded above cloud hi)

Entry was made when the price went above the cloud hi.

Will see how the trade turns out from the price action.

EURUSD Ichimoku Strategy (Long) update

This continued from previous post.

Currently left with only 1 position in EURUSD.

Price itself has been trending upwards. From the tenkan-sen and jikun sen, while they have diverged, the divergence seem to keep in tact.

Technical (Ichimoku)

Everything set in place. It is uptrend.

Strategy (Ichimoku)

Could only look for price itself retracing to the top of the kumo cloud, or when tenkan-sen and jikun-sen converge.

If looking for short, may consider adding stochastic or RSI as alternative indicators, the divergence of tenkan-sen and jikun-sen can be use as a compliment to the over 70 level is stochastic and RSI.

USDCAD Ichimoku Trading Strategy (Short) Sharing

Continue update from previous post.

Screen shot was taken yesterday, but was too tired to write the post as it was very late, and z-monster was looking for me.

As mentioned in previous post, did not recommend to go short as the kumo cloud was thin. Price itself did go above the kumo cloud, followed by a quick reversal.

A new short position was established then, as it was new low formed up by the chikou span and the price action itself.

Similarly, one of the position was closed for profit, marked by yellow circle.

Am not sure is it oanda platform glitches, my historical trade was not reflected (marked by a white circle with thin yellow line connecting to it.

As I am writing this post, price action has gone further south. It might be likely that we see the trend to gain momentum in the south direction. Do not recommend long. Short position takers might want to hold till tenkan-sen and jikun-sen converge prior to establish any short positions.

EURUSD Ichimoku Strategy (Long) update

An update from the previous post for the EURUSD.

Price itself has been trading upwards after the consolidation level between 12500-12650.

The last few period of the price action resulted the tenkan sen ad jikun-sen diverging. Had closed out partial position to lock in profit.

Technical (Ichimoku)

The upward trending kumo cloud reiterate the upward trend of the price action. However, with the diverging tenkan-sen and jikun-sen, the price action upwards probably accelerated. The converging of the tenkan-sen and jikun-sen, together with the top of kumo cloud, the price action is likely to find cosolidation/support at around 12700 level.

Strategy (Ichimoku)

Consider going long when tenkan-sen and jikun-sen converge or when price action near the base of jikun-sen with stop loss below the kumo cloud.

The uptrend is slow and steady, do not recommend short unless chikou span goes below the kumo cloud low.

USDCAD Ichimoku Trading Strategy (Short) Sharing

This is for sharing and updated from previous post

The price action has been trending lower over the period, below the jikun-sen.

Opportunity occurred when price action moved above the jikun-sen and the bottom of the kumo cloud. Established another short position thereafter.

Price traded in the kumo cloud with uncertainty in the direction.

As reflected by the thin kumo cloud now, the resistance for the price action to go above the kumo cloud weaken. Price itself is above the jikun-sen, and near the bottom of the kumo cloud.

Would not consider establish more short position or the intent to go long. Stop loss level is now just above the kumo cloud high.

Should the positions be stopped out, good profit.

EURUSD Ichimoku Strategy (Long) update

Continue update from previous post for the EURUSD position.

After the rally up from 12300-12350 level, price itself has been trading between 12500-12600 level. As mentioned previously, it is likely to see consolidation between 12500 to 12700 level. Depending how price unveils itself, there should be support level at 12500.

Technical (Ichimoku)

Tenkan-sen and jikun-sen have converged towards each other. A signal that the price action will be likely to further consolidated around the current level.

Looking forwad, the kumo cloud is getting thicker and higher, it is likely to see support when the price traded near the cloud top.

Strategy (Ichimoku)

Uptrend, to go for long, short not recommended.

Price levels to establish long, between 12500 to 12600, with stops below the kumo cloud.

EURUSD Ichimoku Strategy (Long) update

This was an update from previous post and the current positions for EURUSD.

As mentioned from previous post, aggressive position takers can initiate positions then with stop below the kumo cloud. Waited a day after and initiated a long position with stop loss below the kumo cloud.

Price action had consolidated for few periods before moving upwards in accelerated manner.

Moderate position takers would have established long position around 12380 to 12400 level during Asian session earlier today.

Technical (Ichimoku)
Current price action rally is encouraging, with price trading above tenkan sen, tenkan sen above jikun sen, both above the kumo cloud, and chikou span traded above the past 26 periods high.

What is more important is price itself trading above all period highs from 6 July. Looking back, the net short positions established between price level 12400-12750 from early June to early July will have to make a decision. Exit? Hold? or Add on?

Depending how the price action reveals itself in the coming days, consolidation between 12500-12700 is anticipated. A strong uptrend reversal perhaps could only happen when price traded above 12800.

Strategy (Ichimoku)
If position has been established, may consider exiting some when tenkan-sen and jikun-sen diverge away from each other

If no position, stay put. Aggressive position taker can consider going long when price touches jikun-sen, moderate position taker can consider going long when price touches kumo cloud top. With stop loss below the kumo cloud.

Do not advice to go short.

USDJPY Ichimoku Trading Strategy (long) Sharing

This post is for sharing. The position has been closed.

The position was established early August 2012 based on one of the ichimoku strategies, chikou span cutting above the jikun-sen, with price action trading above the tenkan sen, tenkan-sen above jikun-sen.

The trade had taken place while the price action was in the kumo cloud. Technically, price in the kumo cloud represented uncertainty in the direction of the price action. This was "less aggressive" in terms of ichimoku strategies (more aggressive position takers will establish long position below the kumo cloud).

Had exited the postion last week. It was a targeted exit. Technically, tenkan-sen and jikun-sen were diverging, which would suggested price consolidation or contraction in the next few periods.

USDCAD Ichimoku Trading Strategy (Short) Sharing

This post is for sharing purpose.

Have short positions in USDCAD established since end July.

Prior to the short positions, was looking to go long for the USDCAD as price action was trading upwards and breaking the kumo cloud. However, chikou span still trading below the kumo cloud.

Within the next few periods, a sharp reversal from the price action itself, decided to look for opportunity to go short. Technically, either tenkan-sen cut below jikun-sen or chikou span cut below the lowest low prior to the current price action. Established the first short position when chikou span cut below the lowest low prior to the current price action.

Shortly after establishing the first short position, the second short position was established, a pure price action set when the price traded below the most recent low.

Positions have been maintained till with stop loss level below entry price.

EURUSD Ichimoku Trading Strategy (Long) update

This is continued from previous post. An update to the EURUSD position.

Price has been moving sideways since the move downwards. Price still remain above the kumo cloud, an encouraging sign at the moment.

Technical (Ichimoku)

Price movement today is encouraging, provided it closes high or near high. Reason being the chikou span cut above the jikun-sen. Looking back, chikou span had cut below the jikun-sen very recently, diminishing the upward trend and breaking the support level. Price movement today will be encouraging for traders looking to long.

In addition, tenkan-sen and jikun-sen converge in the kumo cloud. It will be fruitful, depending the price action ahead, if the tenkan-sen can cut above the jikun-sen and move out from the kumo cloud.

Strategy (Ichimoku)

Price levels to watch out will be between 12380 to 12400 (as chikou span cut above all previous highs from current price)

Aggressive position takers could look for establishing long position now, with stops below the kumo cloud. Moderate position takers could look stop in above 12380 to 12400, with stops below the kumo cloud.

EURUSD Ichimoku Trading Strategy (Long) update

Update from previous post.

Price has been trading lower after the position established.

Technical (Ichimoku)
Currently, price is trading along the jikun-sen, and tenkan-sen is converging towards jikun-sen. All the action is taking place above the kumo cloud.

The view forward remains bullish but in a conservative manner. It will be encouraging to see that price action trading above 12350 within the next few days, above the kumo cloud upper level.

When price action trades below 12250, where chikou span starts to trade below the jikun-sen, may start to reduce the position sizing. Nevertheless, stop loss level is placed below the kumo cloud.

Strategy (Ichimoku)

If you favor a long:
For new position takers, may want to consider to establish new long position just above the kumo cloud, with stop loss level below the kumo cloud. Specifically, only when price trades above 12325 level.

Ideally, tenkan sen should not cut below jikun-sen or bounce off from jikun-sen when touched. Chikou span should not cut below jikun-sen for the uptrend to remain in tact.

If you favor a short:
For new position takers, may want to look out for few scenarios:
Tenkan-sen cut below jikun-sen
Price traded below kumo cloud
Chikou span cut below jikun-sen.

Depending on where the entry, can consider a money stop loss level or above the kumo cloud if price trading below kumo cloud.

NZDUSD Ichimoku Trading Strategy stopped out

This is an update from previous post.

The long position of the NZDUSD was stopped out couple of hours ago. Have actually shifted the stop loss to protective level few days earlier. All positions closed out with profit.

(This is not a technical stop out as per ichimoku set up)

EURUSD Ichimoku Trading Strategy (Long) Initiated

Initiated a long trade in EURUSD, Position sizing according to money stop loss value.

Trade was established as chikou span had penetrated through the kumo cloud, which usually the last and final confirmation of a directional change.

NZDUSD Ichimoku Trading Strategy (Long) continued

Continued from previous post.

Did not do much since last week.

Price action was choppy since establishing long positions last week.

Have shifted stop loss level higher.

Technical (Ichimoku)

While the price action had been choppy for the last few period, tenkan sen and jikun-sen had not been been able to converged towards each other.

Price itself had not traded near jikun-sen ever since it cut above the jikun-sen

Chikou span had given strong sentiments to the current price action, we could see that those price activities below chikou span will be in a mood of exiting or adding momentum to price action upwards.

Strategy (Ichimoku)

It is advisable to stay put till price itself reveals more information in the periods ahead.

NZDUSD Ichimoku Trading Strategy (Long) Initiated

Was looking around the currencies pairs, found trading opportunities in the NZDUSD.

The price action had been in a upward trend, and had went into consolidation range.

As per ichimoku charting, the price has cut below, above, below and now above the kumo cloud.

Technical (Ichimoku):

Tenkan-sen has yet cut above the kijun sen, and kijun-sen is till below the kumo cloud. While price action has traded above the kumo cloud, the thin kumo cloud means the support might not be above to hold the price action when it makes a reversal.

An interesting part of the ichimoku charting is the chikou span cutting above the kumo cloud as of now. It also cuts above the price activities that had happened looking forward.

Price itself probably had not decided how it will go in the way forward by looking at the past which happened to be range bound.

Strategy (Ichimoku)

The preceding trend was an upward trend prior to the range bound activities by the price. The accelerated falling price prior to the accelerated increase in price now do demonstrate the buyers are coming in, with sellers standing aside.

Positions has been established as price pierced above the kumo cloud. What is more significant is that chikou span also cuts above the kumo cloud.

More positions added as price continues to pierce above the previous high within the chikou span.

Will have to see how price reveals itself as the days come by.

EURUSD Ichimoku Trading Strategy (Short) stopped out

All positions closed out.

These trades had started since early July with positions added on in between.

The bullish candle form earlier has penetrated into the kumo cloud.

While Chikou Span cut above the tenkan sen and jikun sen, tenkan sen had yet cut the jikun sen.

As mentioned in the earlier post, bull believers might choose to take up positions. Taking note of the thick cloud, its takes strength and momentum for the price action to pierce through.

It might be worth considering to stay put taking no position for the next few days while waiting for the price action reveal more.

EURUSD Ichimoku Trading Strategy (Short) continued

Continued from previous post published few days ago.

Price action has not went went back to 1.2200. Have not done anything for the past few days besides watching the price action itself.

Currently, the price action has traded above the tenkan-sen. Tenkan-sen and Jikun-sen are probably converging towards each other. There might be some price consolidation coming forward. It could be in the range of 1.2100-1.2200.

The Kumo cloud is also getting thinner ahead. There might be chances where the price action will break through the the thin kumo cloud.

Have locked in partial profit and shifted stop loss level to the mid of the kumo cloud for the remaining positions.

Technical (Ichimoku):
Price is trading between tenkan-sen and jikun-sen. With the tenkan-sen and jikun-sen converging, there is chance where tenkan-sen cut above ji-kun-sen.

Chikou Span is not far away from the jikun-sen. With the thin kumo cloud ahead, there is no strong resistance to the price if the price will to start penetrate the kumo cloud.

Strategy (Ichimoku)
The trend remains bearish.

Watch out for tenkan-sen cutting above jikun-sen, and how the price action reveals itself then.

New entrant might consider to establish some long position.

EURUSD Ichimoku Trading Strategy (Short) continued

Continued from my previous post written few days ago.

3 ichimoku strategies were briefly discussed. I have chosen the first one, "... price below the cloud indicate a bearish view, short position could be added with limit sell at 1.2250.."

Had added another one at 1.2300. In short, more short positions were added during the last few days.

Tenkan sen did cut above jikun sen, and the price action high reached 1.2325. However, there was no momentum to the up swing from the price itself.

Technical (Ichimoku):
Tenkan sen is converging towards jikun-sen between 1.2200 to 1.2250, likely a change towards negative swing in the near term.

Thick kumo cloud ahead provide strong resistance to the price action.

Price action shows support coming in at 1.2150. However, take note if this level is break by the chikou span. It demonstrates the current mode is bearish.

Strategy (Ichimoku)

Do not go long until the path ahead is clearer when revealed by the price itself.

If going short, might look for opportunity around 1.2200 level, using a dollar stop according to individual risk.

EURUSD Ichimoku Trading Strategy (Short) continued

As mentioned in previous post, added new position in 1.2250 to 1.2350 range. Specifically at 1.2250 and 1.2300.

By price action itself, it might be heading to test the level of 1.2160.

Looking at the thick ichmoku cloud formed up ahead, there is strong resistance at 1.2250 level.

Looking forward:

Technical (Ichimoku):
Tenkan-sen and Kijun-sen are converging, a cross over of tenkan-sen above kijun-sen is the first signal of going long  should both lines below the cloud.

Strategy (Ichimoku) ideas:

In general, price below the cloud indicate a bearish view. Short position could be added with limit sell at 1.2250.

If adding long position, could consider taking up small position when tenkan-sen cut above jikun-sen.

If price action goes above1.2325, could look to add more long positions.

EURUSD Ichimoku Trading Strategy (Short) continued

This is an update to the short positions from the previous post.

Price has been trading lower after squaring off some position for profit taking. Nevertheless, still looking for opportunities to add some short positions.

Has shifted the stop loss level lower to 1.2500 level.

Looking forward:

Fundamental:
In short, nothing encouraging from the EU.

Technical (Ichimoku):
Tenkan-sen and kijun-sen has been expanding (price acceleration, gap between the 2 lines), price consolidation is anticipated at the white rectangle box as shown in the chart.

The Kumo cloud is getting thicker. Such cloud provide good resistance to the price action below. Similarly, should the price action penetrated above the thick Kumo cloud, followed by the chikou span penetrating above the kumo cloud, it will form good support to the price itself then.

Strategy (Ichimoku) ideas.

Looking to add short position between 1.2250 - 1.2350, or when price trades near kijun-sen.

Stop loss level could be adjusted to 1.2450 then.