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.

EURUSD Ichimoku Trading Strategy (Short) continued

Continued from previous post.

Square off some positions for profit taking.

Positions remained open.

Am looking for opportunities to add short position.

EURUSD Ichimoku Trading Strategy (Short)

It was very upsetting for the last trades that the position was stopped out.

Nevertheless, continued to established short positions when the ichimoku strategy allowed for it, couple with the economic sentiments for euro.

Will cover some position to recover the loss in the previous trade, and will continue to add more short position as long as opportunity arrives.