EURUSD Ichimoku Strategy since 21-Nov-2012 #2

This is an update from previous post.

Ichimoku Technical

After the earlier up move above the kumo cloud, price action retraced back to near the jikun-sen, now above the tenkan-sen. The thick kumo cloud ahead provides the support to keep the price level up. All ichimoku trading signals give a good uptrend momentum.

Ichimoku Trading Strategy

Continue to see opportunity to establish long positions when price action retrace to tenkan-sen or jikun-sen. Stop loss level to be below cloud.

EURUSD Ichimoku Strategy since 21-Nov-2012

The EURUSD price action had been volatile for the past few weeks, fundamentally and technically.

Ichimoku Technical

The very recent move of the price action revealed an accelerated upward move.

Prior to that, tenkan-san cut above the jikun sen some distant below the kumo cloud low. The price action itself began to move above the jikun-sen and tenkan sen and quickly into the kumo cloud region.

The chikou span also cut above the jikun-sen, while below the kumo cloud.

Ichimiku Strategy

Established a long position in EURUSD while the chikou span cut above the jikun-sen, a recut if technically speaking.

Looking forward,  depending how the price action reveals itself, a touch at the tenkan-sen could provide opportunity to go long.

NZDUSD Ichimoku Strategy (Short) update

This was an update to previous post for the kiwi.

Price action was choppy since the trade established some time ago. There was no momentum in the downtrend.

From the ichimoku charting itself, only tenkan-sen is over kijun-sen while below the kumo cloud. The cloud ahead is not too promising to be a good resistance to the price action itself.

Position closed out after assessing the price action and the surrounding environment.

No losses, except time in the position.

GBPJPY Ichimoku Trading Strategy Short on 08-Nov-2012 #02

This is an update to previous post established for GBPJPY

As can see from the ichimoku chart, price accelerated downward after establishing the position. Unfortunately, there was no strength in the sell down due to monetary policy with the Japan Government. Fundamental came into play.

Position was stopped eventually.

NZDUSD Ichimoku Strategy (Short)

Have not traded the kiwi for some time. Was looking around the currency pairs. Decided to have a position for this NZDUSD

Technical (Ichimoku)

Tenkan-sen is currently inline with Kijun-sen, and above the kumo cloud. However, price itself accelerated downward, penetrating the kumo cloud, and now trading below the cloud low. Chikou span has also penetrated below the cloud low due to the price action.

Strategy (Ichimoku)

In general, price action below the cloud low denotes a short. An idea situation will be the price action cutting below the Tenkan sen, the tenkan sen cutting below the kijun-sen, and all trading below the cloud gradually, with chikou span cutting below cloud low as best signa.

Short position has been established. It was established during a pull back and near the cloud lo. Depending how the price unfolds, can look forward to add more position.  The AUD and NZS usually trend well.

GBPJPY Ichimoku Trading Strategy Short on 08-Nov-2012 #01

Was looking around for a position trade, and found GBPJPY. Not the usual currency pair, nevertheless an opportunity underlying.

Technical (Ichimoku)
Tenkan sen just cut below the kijun-sen and chikou span below the kijun-sen. Price itself was in the kumo cloud, and a rising kumo cloud ahead.

Strategy (Ichimoku)
Took a short position, establishing it while price action was in the kumo cloud. Not a strong short signal, entry with small sizing, with stop loss above the forward cloud hi.

GBPUSD Ichimoku Strategy (Short) update

The volatile price action had taken the positions out.

Technical (Ichimoku)

The price action had reversed in an accelerated manner after the last short position being established. Tenkan  sen remained above the kijun sen, with the price action leading the reversal to above the kumo cloud. The current setting, price above the kumo cloud, tenkan sen above the kijun-sen and chikou-span above the kumo cloud, favour a strong buy signal.

Strategy (Ichimoku)

Based on the setting, it is a recommended buy. The only set back is the thin kumo cloud forming ahead, which also represents a weak support should the price action decides a reversal.

New position taker might want to consider taking a conservative approach in establishing long positions.

*On a side note: with NFP going to be announced tomorrow, might want to stay put at the moment.