Friday, October 5, 2012

EURUSD Ichimoku Strategy (Short) stop out

Update on the current EURUSD position.

All short positions stopped out.

Technical (Ichimoku)

Tenkan-sen above jikun-sen, chikou span has already cut above jikun-sen, and penetrating above the kumo cloud.

Thick kumo cloud ahead, providing good support to the price action forward

Price action trading above the tenkan-sen and kumo cloud, a complete candle period above the kumo cloud.

Strategy (Ichimoku)

This is good to go for a long set up, cannot be more perfect.

Establish long position above the kumo cloud, with stop loss level below the kumo cloud.

NOTE: as this run up was after the First Friday "news" day, I would wait for Monday to go long. Aggressive takers may choose to establish position now.

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