Saturday, August 4, 2012

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.

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