Ichimoku Trading Strategies NZDUSD 04 Sep- 2013 #4

An update to the existing positions.

Patience is one virtue one needs in trading. The very first position started in 04 Sep , 2 more positions were added on 24 Sep and 11 Oct. To just sit and wait for the price action reveals by itself maybe something easier to say than do.

The green line is the take profit level.

Of course, another school of thoughts will be to let profit run, just place a stop loss below the cloud lo, we never know how far it will go. That is not wrong. It's just different.

Ichimoku Trading Strategies NZDUSD 04 Sep- 2013 #3

Ichimoku Trading Strategies NZDUSD 04 Sep- 2013 #3

Well, it has been quite some time since the last update.

2 more positions have been added since the last update.

The first position was added on 24 September, that was added when price action came to the kijun-sen level. The second position was added on 11 October, that was added with the price action (period) above the kumo cloud. The current stop loss level is some distant away from the cloud lo.

The forward kumo cloud is thin, increasing the risk of the reversal for the current uptrend. Encouraging signs will be the forward cloud is turning bullish, and chikou span remains above the cloud hi. The next few period will be critical as the price action unveils itself.

Total risk for all the three positions remains controllable.

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