USDSGD Daily Oct 2011 Ichimoku Trading

This was the third and position initiated on 19 Oct 2011 for USDSGD. It was taken when the price just traded into the cloud.

Fundamentally, tenkan-sen had already cut below the jikun-sen, chikou-sen was about to cut jikun-sen.

The price on the day on entry went against the short position. Held on to the trade.

A stop in order was placed earlier just below the cloud, and with chikou-span likely to cut below jikun-sen, it was an ideal set up.

The price moved lower thereafter. Again, that was due to the news from EU.

Holding on...

EURUSD 30 Sep 2011 Ichimoku Trading

Was not trading for the past 2 days due to work commitment.

Back to trading tonight for the last day of the month.

Price had been trading downwards earlier till 2000h. Was planning what trade to do for the night. Tenkan-sen cut above the jikun-sen while above the kumo cloud. The chikou span also cut above the kumo later, there was opportunity to go long at around 2030h. Knowing there was a number of news, was stepping a side.

After 2030h, relook at the ichimoku charting, an opportunity was forthcoming...

Tenkan-sen cut below Jikun-sen while above kumo cloud. The price went into the kumo cloud, and Chikou Span had yet cut below the cloud completely.

Placed a stop in order (50%) just below the cloud, was stopped in the next moment.

Placed another stop in order (50%) below the low of the kumo cloud, was stopped in the next moment.

Price began to trade lower. Set a target profit to close 50% of the position. It was hit

Set another target profit to close 50% of remaining position (25%). It was hit

The remaining was stop loss, it was stopped out.

Called it a day...

EUR/USD 26 Sep 2011

The price had been trending upwards earlier since late afternoon. Nevertheless, it seem exhasted.

The tenkan-sen cut below the jikun-sen just before 2000h. It looked like a good opportunity, but that's not part of the trade plan.

Price trended lower and penetrated through the kumo cloud. However, the confirmation from chikou span had not arrived yet. Until a quarter past 2000h, the order to established a short position for the price was keyed in. However, price did not go lower. It had been ranging for quite a while, before it was triggered 25 minutes later.

The price almost penetrated above the ichimoku cloud after stop-in. The thought of exiting the trade started to hover in the mind. Hang on to the plan, and keep the trade.

Price started to trend downwards thereafter. Closed partial position after meeting the initial target. Continued to close partial position again when price trended downwards. Have shifted the stop loss level down. It got hit subsequently.

Call it a day thereafter.

EURUSD 23 Sep 2011

The price had been trending down before 2000h. 

At point A, price faced some resistance at the bottom of the ichimoku kumo cloud. Nevertheless, the tenkan-sen started to cut above the jikun-sen. The price started to test the kumo cloud again. This time round it penetrated through the top of the kumo cloud. At the same time, the chikou span also penetrated above the cloud. Established a long position thereafter

The price trended upwards thereafter. There was some consolidation prior to another movement upwards. Placed a profit taking level. Closed off partial of the position at Point B.

The price consolidated at point B before trending down. A stop loss was placed below the Jikun-sen. It was later triggered at Point C.

Called it a day.

PS: price trended upward after stopping out at the time of this post... There will always be another day for  you to trade...

EURUSD 22 Sep 2011

Price had been trending downwards recently.

Decided to establish a position when price was trading above the kumo cloud.

The entry setup was when the tenkan-sen cut below jikun-sen while above the kumo cloud. And the price was lower than the low established from 2000h onwards.

Market moved down thereafter. Partial position was closed when it reached 40pips. Stop loss was shifted lower.

Stop loss level was hit later on.

Called it a day.

GBPUSD 06-Sep-2011 Follow up

This is a follow up to a post made earlier.

The GBPUSD trade was entered on 06 Sep 2011 when the price pierced through the ichimoku kumo cloud. Thereafter, a short position was established. It has been 16 days, almost 6++ pips profit.

EURUSD 19 Sep 2011



Took a long position in Eur/Usd when the Tenkan-Sen cut the kijun-Sen below the kumo cloud. The position was established after a bull candle closed above the 2 line crosses.

Another long position was established when the price when for a new high.

A third position was established when the price retraced back to Tenkan-Sen.

The price action was choppy even though there is strength in the price itself as showed by the chikou span cutting from below to above both the Tenkan-sen and Kijun-sen.

Nevertheless, traded as plan. Was stopped out eventually. A losing trade for the start of the week.

EURUSD 14 Sep 2011

Tenkan-sen cut the kijun-sen sharply. Went long when price cuts above kumo cloud, did it during pull back.

Again, another choppy session with sharp reversal. Price cut through Kumo cloud . Stopped out.

EURUSD 13 Sep 2011

Not a very good start for the week.

Went long initially after the tenkan-sen cut jikun-sen. Stopped out at break even.

Went short when price traded below the kumo cloud, but was stopped out when it went for reversal.

GBPUSD 13 Sep 2011

It had been quite some time since I last updated.

I was busy with work, and also option trading.

Have started option trading with thinkorswim. They have a branch office in Singapore.

Refering to my fx trade, I had taken a short position when an opportunity arised in the daily period.

The trade is still open as I written this post. The position was established on 06 Sep 2011.

EURUSD 29 Aug 2011

First day of the week.

Started well with long position when the price traded above the ichimoku kumo cloud from below. This was furthered confirmed by tenkan-sen cutting the kijun-sen, and chikou-sen cutting above kumo cloud from below.

Partial position was sold off as price traded near the top of kumo cloud. The remaining position was closed out and the price penetrated into the kumo cloud.

A short position was initiated @ 1.4513. However it was not triggered.

A short (& smaller) position was established @ 1.4522. Though the price traded below the ichimoku kumo cloud, this was NOT confirmed by tenkan-sen and kijun-sen, chikou-sen had also not traded below the kumo cloud. This position was closed out with a loss.

Closed the day with profit.

EURUSD 26 Aug 2011

Not a very good start. Initiated a short position. Was stopped out.

A long position was intiated thereafter. Recovered the loss for the earlier trade after closing out part of the position.

Remaining position was stopped out later on.

Ended the day with little profit.

EURUSD 25 Aug 2011

It was again another day of tsunami...

A short position was initiated as the price was trading below the ichimoku kumo cloud. While there was price retracement thereafter, it traded lower gradually.

After weakof jobless claim data at 0830h, price traded significantly lower. However, some support was shown at 1.4410. Price continued to trade in range bound.

Another short position was initiated according to trade plan.

Shortly after, the support at 1.4410 was penetrated.

The joy was short-lived though. A surge of tsuami came along, tenkan-sen cut the jikun-sen instantly, price shot up the ichimoku kumo cloud, stop loss triggered.

No idea on the intervention at this moment.

EURUSD 24 Aug 2011

It was another choppy day.

Price moved upwards after the released of news (US durables ex. transport.) Placed a stop in order for long, got triggered. New high was established. However, there was no strength in the momentum. Price retraced backwards. Half of the position was square off with the remaining being stopped out.

A short position was established accordingly. Similarly, new low was established. However, the joy was short lived. Price retraced upwards. Square off the position when price traded the top of the kumo cloud.

A day with losses.

While ichimoku charting is used as a trend following charting, there is a need to look into the price action established before the market start.

Similarly, the price action that follows through need to further examine if there is need to stay in the trade or stay out of the trade.

EURUSD 23 Aug 2011

Price action was kind of slow initially.

Placed stop in order for short. Short order was triggered later on. Set a target price to close half of the position.

There was price retracement. Thought that could be stop hunting. Placed a technical stop loss to close half of the position. Howevre, it was not triggered. Order removed.

Price moved lower. Reaching my target price. Half of the position closed.

After 1000h, news of new home sales released. Less than forcast. Closed half of the remaining position.

The remaining position was stopped out subsequently.

Good profit for the day.

EURUSD 22 Aug 2011

It was quite a choppy day.

Entered the day with a short position, position was square off as price showed reversal.

Another position was entered to go long. Position was partially square off when price entered the cloud. All position closed out when price traded below the cloud.

A day with loss.

EURUSD 19 august 2011

It was a very slow day.

Entered an order to long. Price triggered stop in long position.

Price was consolidation for hour. Closed the position.

At this moment, the price had moved upwards in favour of the "closed" long position.

Nevertheless, its in the plan to close out the position. There is always another for you to trade.

EURUSD 18 Aug 2011

The day did not start well.

Went long the first trade. Price action reversed. Postion closed out.

Went short accordingly to the trade plan.

Add on short position accordingly.

Price action followed through.

Position stopped out at 2 price level.

Good profit for the day.

EURUSD 17 Aug 2011

Another day of choppiness.
Placed a stop-in order for a short position. Price got triggered. Market turned around and closed out.
Placed a stop-in order for a long position thereafter. Price got triggered. No momentum in the rally. Position closed out.
Ended the day with small losses.

EURUSD 16 August 2011

Entered a long position as the price traded up.

Retracement was significantly more than expected, wind down half of the position prior to stop loss level.

Market moved higher there after. The rally was short lived. Was stopped out eventually.

Ended the day near breakeven.