Monday, October 8, 2012

EURUSD Ichimoku Strategy

As mentioned in previous post, planning to go long on Monday.

Price is trading in the kumo cloud now, not really a good idea that the kumo cloud did not support the price action after the run-up last Friday.

Technical (Ichimoku)

Tenkan sen remains above kijun-sen, however, price is between tenkan and kijun sen, and also in the kumo cloud. Chikou-span also cutting back into the kumo cloud.

Strategy (Ichimoku)

Ideally, the kumo cloud should support the price action. Unfortunately it did not this time round. What we could look out is price action above tenkan-sen again, and look for a long when confirm by the price action.

Aggressive taker can go for either way. If there is a fundamental input that will sway your decision, let that decision be now.

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