NZDUSD Ichimoku Trading Strategy (Long) Initiated

Was looking around the currencies pairs, found trading opportunities in the NZDUSD.

The price action had been in a upward trend, and had went into consolidation range.

As per ichimoku charting, the price has cut below, above, below and now above the kumo cloud.

Technical (Ichimoku):

Tenkan-sen has yet cut above the kijun sen, and kijun-sen is till below the kumo cloud. While price action has traded above the kumo cloud, the thin kumo cloud means the support might not be above to hold the price action when it makes a reversal.

An interesting part of the ichimoku charting is the chikou span cutting above the kumo cloud as of now. It also cuts above the price activities that had happened looking forward.

Price itself probably had not decided how it will go in the way forward by looking at the past which happened to be range bound.

Strategy (Ichimoku)

The preceding trend was an upward trend prior to the range bound activities by the price. The accelerated falling price prior to the accelerated increase in price now do demonstrate the buyers are coming in, with sellers standing aside.

Positions has been established as price pierced above the kumo cloud. What is more significant is that chikou span also cuts above the kumo cloud.

More positions added as price continues to pierce above the previous high within the chikou span.

Will have to see how price reveals itself as the days come by.

EURUSD Ichimoku Trading Strategy (Short) stopped out

All positions closed out.

These trades had started since early July with positions added on in between.

The bullish candle form earlier has penetrated into the kumo cloud.

While Chikou Span cut above the tenkan sen and jikun sen, tenkan sen had yet cut the jikun sen.

As mentioned in the earlier post, bull believers might choose to take up positions. Taking note of the thick cloud, its takes strength and momentum for the price action to pierce through.

It might be worth considering to stay put taking no position for the next few days while waiting for the price action reveal more.

EURUSD Ichimoku Trading Strategy (Short) continued

Continued from previous post published few days ago.

Price action has not went went back to 1.2200. Have not done anything for the past few days besides watching the price action itself.

Currently, the price action has traded above the tenkan-sen. Tenkan-sen and Jikun-sen are probably converging towards each other. There might be some price consolidation coming forward. It could be in the range of 1.2100-1.2200.

The Kumo cloud is also getting thinner ahead. There might be chances where the price action will break through the the thin kumo cloud.

Have locked in partial profit and shifted stop loss level to the mid of the kumo cloud for the remaining positions.

Technical (Ichimoku):
Price is trading between tenkan-sen and jikun-sen. With the tenkan-sen and jikun-sen converging, there is chance where tenkan-sen cut above ji-kun-sen.

Chikou Span is not far away from the jikun-sen. With the thin kumo cloud ahead, there is no strong resistance to the price if the price will to start penetrate the kumo cloud.

Strategy (Ichimoku)
The trend remains bearish.

Watch out for tenkan-sen cutting above jikun-sen, and how the price action reveals itself then.

New entrant might consider to establish some long position.