Wednesday, July 30, 2014
EURUSD Intra-day Winning Ichimoku Forex Trading Strategy 30-Jul-2014
Another Winning Ichimoku Forex Trading Strategy
Let's take a quick review on ichimoku forex trading strategy on the ichimoku charting.
Tenkan-sen crossed below the kijun-sen, while in the ichimoku cloud at around quarter past noon, and continued to trend in that manner till both the lines crossed below the ichimoku cloud.
Price action trended below the kijun-sen. Why the position was established at around a quarter past three was mainly from what I considered one of the most important indicators in ichimoku, the chikou span.
Noticed the first trough formed by the chikou span at around the time location quarter past seven at the morning session. Fast forward, and you see the price action broke below the cloud. What we are looking for in a short entry, is the chikou span break below the trough it formed.
The stop loss level was placed above the cloud high.
Nevertheless, price action range for periods below the trend down south.
There maybe some luck as news play came in at 2030 hours. Nevertheless, it is still a good winning ichimoku forex trading strategy.
Exit at around 2300. Time to sleep.