Thursday, September 25, 2014

NZDJPY long term Ichimoku Best Forex Trading Strategy 04-Sep-2014- #02






















Image: Oanda

TRADE

Date: 04-Sep-2014

Currency: NZDJPY

Entry: Buy Market 87.49

Reason for Trade/Setup: 

A very typical bullish view from ichimoku chart indicators, with tenkan-sen above kijun-sen, and both above the ichimoku cloud. Chikou span had also crossed over the kumo cloud and the forward cloud remained bullish. A Buy Market with stop loss below the ichimoku cloud. 

Initial Stop: 86.60

Stop loss shifted to 87.20

Initial Target: 90.25

INTERMEDIATE COMMENT

NA

RESULT

Outcome: The reversal was sharp. Price action turned lower, with tenkan sen cutting below kijun sen. The next period was a sharp down, going below the kumo cloud.

Exit: Stop out.

Profit/Loss: -29 pips

2 comments:

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