Established another short position earlier. Since last post, price action moved towards the ichimoku cloud lo and did not proceed further.
Technical Analysis (Ichimoku Charting)
Tenkan-sen is above the kijun-sen, and both below the ichimoku cloud. Trend continues to be bearish. Chikou span has not cut above the tenkan-sen or kijun-sen. This further enhanced the bearishness of the price action. The kumo continued to remain thick, providing strong resistance to the price action ahead.
Trading Strategies (Ichimoku Trading)
Long is not recommended. If persist on going long, will only consider when price action goes above 10320. And the next level to really give it a thought will be 1.0340.
Continue to look for opportunities to short, with stop loss above the kumo cloud high. Target level will be 10200.
Singapore Ichimoku Trader
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Nice informative blog. In investment there are lots of type of risks, but if you made investment wisely then you can make profit.
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