Wednesday, April 9, 2014

Ichimoku Trading Strategies 31-March 2014 #3























Apparently the bearish mood mentioned in previous post has not sustained.

Price action climbed upwards in the last few periods and now into the kumo cloud.

Tenkan sen already cut above the kijun-sen, and chikou span is now above tenkan-sen and kijun-sen that are 26 periods earlier. The comforting portion, all three are below the kumo cloud. However, the forward kumo cloud seems to have a change from bearish to bullish mood.

Trade plan ahead: Add more position if price action returns below kumo cloud lo, and at level around kijun-sen; prepare to reduce or exit when price action goes above the kumo cloud hi; await to be stopped out.






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