Thursday, September 27, 2012

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.

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