Wednesday, January 11, 2012

EURUSD 10 January 2012 Ichimoku Trading Strategy















Price was already trading above the kumo cloud during US timing. Waited for some time to have a set up.

When the price went into the kumo cloud around 0830h (US timing), awaited for the set up.

1. Tenkan-sen cut above the jikun-sen while inside the kumo cloud, and the price was trading above the tenkan-sen. Morever, chikou span touched the jikun-sen and rebounded. Placed a stop in order which was triggered after.

2. Price reversed shortly after, penetrating through the thin kumo cloud.

It was unfortunate that the 2nd trade was also a lost.

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