Ichimoku Trading Strategy for Forex Trading 03 Jul 2014 #2

Price action has continued to trend lower since the position being established last week.

It is now it the kumo area, or the so called ichimoku cloud area.

Examine the current ichimoku charting, the tenkan-sen is below the kijun-sen, and in a diverging manner. This is similar to when the previous position being closed. The downward trend made during the last few days may now in exhaustion, and the range price activity in the kumo cloud may just provide the "rest" needed by the price action itself.

Looking back to the chikou span, it is now below the kijun-sen. It is however, not below the kumo cloud lo yet. And looking forward to the kumo, which is now turning bearish, could be a sign for the trend change.

There are some bearish signs from the ichimoku charting, but not yet a trend change.

Strategies ahead, there are away 2 sides of the trades, buyer or seller.

For seller, perhaps it may be good to enter when the tenkan-sen and kijun sen converge, or when price action clearly below the kumo cloud, the boost from chikou span below the kumo cloud could add on to the selling positions.

For buyer, which will be the position I am planning to take. Continue to add on more positions, taking minimum risk with stop loss at same level.

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