Saturday, September 27, 2014

EURUSD Intra-day Ichimoku Best Short Term Forex Trading Strategy 26-Sep-2014






Image: Oanda


TRADE

Date: 26-Sep-2014

Entry: Sell Stop 1.2720, 

Reason for Trade/Setup: 

A very typical trade set up based on ichimoku indicators. All indicators showed a favorable sell set up. Tenkan-sen below kijun-sen, both below the kumo cloud, supported by the chikou span which was also below the kumo cloud. Forward cloud is thin, a concern, not a worry. Importantly was the price action below the tenkan-sen. Placed a sell stop below the recent low.

Initial Stop: 1.2760

Initial Target: 1.2600

INTERMEDIATE COMMENT

N.A

RESULT

Outcome: Price action came lower. Exit for the night.. 

Exit: Closed out market @ 1.2687

Profit/Loss: +33 pips

THOUGHTS

N.A

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