Tuesday, October 2, 2012

EURUSD Ichimoku Strategy (Short) new

This is continued from previous post.

After initiated short positions few days ago, continued aggressively to add on new position when price penetrated through the kumo cloud. There was no full period under the cloud, position established in aggressive manner.

Technical (Ichimoku)

Price action reverted back into the kumo cloud showing uncertainty to the direction of the price itself. While tenkan-sen was below jikun sen, possibility of a cross over seem to happen. And chikou span is looking to cut tenkan sen, showing the weakness in the downward move.

The kumo cloud is getting thinner ahead, chances of price cutting above is there.

Strategy (Ichimoku)

If not in position, stay out.

Look out for price action below and above the Kumo Cloud.

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