Tuesday, September 11, 2012

USDCAD Ichimoku Trading Strategy (Short) Sharing

Continue update from previous post.

Screen shot was taken yesterday, but was too tired to write the post as it was very late, and z-monster was looking for me.

As mentioned in previous post, did not recommend to go short as the kumo cloud was thin. Price itself did go above the kumo cloud, followed by a quick reversal.

A new short position was established then, as it was new low formed up by the chikou span and the price action itself.

Similarly, one of the position was closed for profit, marked by yellow circle.

Am not sure is it oanda platform glitches, my historical trade was not reflected (marked by a white circle with thin yellow line connecting to it.

As I am writing this post, price action has gone further south. It might be likely that we see the trend to gain momentum in the south direction. Do not recommend long. Short position takers might want to hold till tenkan-sen and jikun-sen converge prior to establish any short positions.

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