EURUSD Ichimoku Strategy (Long) update

An update from the previous post for the EURUSD.

Price itself has been trading upwards after the consolidation level between 12500-12650.

The last few period of the price action resulted the tenkan sen ad jikun-sen diverging. Had closed out partial position to lock in profit.

Technical (Ichimoku)

The upward trending kumo cloud reiterate the upward trend of the price action. However, with the diverging tenkan-sen and jikun-sen, the price action upwards probably accelerated. The converging of the tenkan-sen and jikun-sen, together with the top of kumo cloud, the price action is likely to find cosolidation/support at around 12700 level.

Strategy (Ichimoku)

Consider going long when tenkan-sen and jikun-sen converge or when price action near the base of jikun-sen with stop loss below the kumo cloud.

The uptrend is slow and steady, do not recommend short unless chikou span goes below the kumo cloud low.

USDCAD Ichimoku Trading Strategy (Short) Sharing

This is for sharing and updated from previous post

The price action has been trending lower over the period, below the jikun-sen.

Opportunity occurred when price action moved above the jikun-sen and the bottom of the kumo cloud. Established another short position thereafter.

Price traded in the kumo cloud with uncertainty in the direction.

As reflected by the thin kumo cloud now, the resistance for the price action to go above the kumo cloud weaken. Price itself is above the jikun-sen, and near the bottom of the kumo cloud.

Would not consider establish more short position or the intent to go long. Stop loss level is now just above the kumo cloud high.

Should the positions be stopped out, good profit.

EURUSD Ichimoku Strategy (Long) update

Continue update from previous post for the EURUSD position.

After the rally up from 12300-12350 level, price itself has been trading between 12500-12600 level. As mentioned previously, it is likely to see consolidation between 12500 to 12700 level. Depending how price unveils itself, there should be support level at 12500.

Technical (Ichimoku)

Tenkan-sen and jikun-sen have converged towards each other. A signal that the price action will be likely to further consolidated around the current level.

Looking forwad, the kumo cloud is getting thicker and higher, it is likely to see support when the price traded near the cloud top.

Strategy (Ichimoku)

Uptrend, to go for long, short not recommended.

Price levels to establish long, between 12500 to 12600, with stops below the kumo cloud.