Ichimoku Trading Strategies EURUSD 02-Jan-2014 #2

It has been quite some time since the last post. Price action has remained in a predictive mode, below the kumo cloud till the last couple of period, with a strong trending upwards.

The position remains, with stop loss adjusted lower, above recent high.

From ichimoku perspective, price action penetrated above the cloud, but remains to be seen if it is sustainable. This is qualified by kijun-sen remain below/in the cloud, though tenkan sen has cut above the kijun-sen. Chikou span, an important trend change indicator, has not yet cut above the cloud hi.While the forward cloud changes to bullish, it is a thin bullish cloud, and the cloud hi support is a valley ahead.

Stop loss level adjusted lower as such.

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Ichimoku Trading Strategies EURUSD 02-Jan-2014 #1

The very first post for 2014.  Executed a trade a couple of days ago.

Price action had been trending upwards in a very gentle manner, cutting below the kumo cloud during mid December 2013.

Price action cut below the kumo cloud again, with tenkan-sen and kijun-sen showing signs of diverting. Chikou span also about to cut below the kumo cloud then.

Position remains open with stop loss about the kumo cloud high.

Happy New Year 2014

My apology for not updating the blog for last 2 months or so. I was busy preparing my big day in Singapore.

Will update the blog soon.

Cheeros.