Image: Oanda
TRADE
Date: 30-Sep-2014
Entry: Sell Market 1.6217
Reason for Trade/Setup:
Tenkan-sen had crossed over kijun-sen, and below the kumo cloud. However, kijun-sen was in the cloud, and chikou span went into the kumo barely after it crossed below. Price action was below and the forward cloud was bearish. Took a position to short when price action near the tenkan-sen.
Initial Stop: 1.6450, Shifted to 1.6200
Initial Target: 1.5528
INTERMEDIATE COMMENT
Price continues to maintain below the ichimoku cloud. Remain cautious the way forward. While the forward cloud remains thick providing the resistance to the price action, the risk remains high looking at the movement of the price action. Stop loss is adjusted to 1.6200.
RESULT
Outcome: TBC.
Exit: TBC
Profit/Loss: TBC
THOUGHTS
N.A
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