Wednesday, July 16, 2014

Ichimoku Trading Strategy for Forex Trading 03 Jul 2014 #4

The two positions established were stopped out. The fortunate thing that can happen for these trades were minimum risk allocated.

Aggressive sellers established the position as per previous post were be in relatively comfort zone at the moment. Chikou span has cut below the ichimoku cloud lo, reflecting the bearish mood.

Price action itself may be in for a wild move prior to consolidation in a range move looking at tenkan sen and kijun sen. Looking at the price action at a distant away from the kumo cloud, to square off some for profit maybe an option, and to reestablish later as price moves closer to the ichimoku cloud.

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