Monday, August 20, 2012
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.