Another position has been added as mentioned in previous post.
Price action made an uptrend there after, storming through the ichimoku cloud, but unable to break through the ichimoku cloud hi.
Tenkan-sen and kijun-sen are now converging towards each other, and tenkan-sen may be cutting above the kijun-sen. These actions are now happening in the ichimoku cloud.
Chikou span is touching the cloud lo, a thin cloud, which may be of a concern.
Price action now is below the cloud lo. The concern now increases as compared to the post made previously, mainly due to the thin support at chikou span. Understanding the mechanics behind the ichimoku charting, it simply means the current price action is challenging the trades (longs/shorts) made in the past periods.
Ichimoku Strategy ahead: Stop loss level has been raised. While bull may stand a chance, the same applies to the bear. Aggressive sellers may want to start positioning themselves. New bull entrants may want to see tenkan-sen cutting above kijun-sen with price action above them.
[url=http://www.ichimoku-trading.com]Ichinoku Blog[/url]
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