Tuesday, February 5, 2013

Ichimoku Trading Strategy: USDCAD forex trading since 18-Jan-2013 #3

























Price action rallied since establishing the position on 18 January, it reached its top at 1.0100.

Technical Analysis (Ichimoku Charting)

After rallying to its recent top in the last few periods, price action retraced downwards to the current level. Tenkan sen has also cut below the kijun-sen. Chikou span has now cut the tenkan sen while maintaining above the kijun-sen. All remain above the ichimoku cloud. The forward cloud is getting thicker for the next few periods.

Trading Strategies (Ichimoku Trading)

With price action above the ichimoku cloud, the immediate short term to mid term view remains bullish. While the immediate sign from tenkan sen cutting below kijun sen represent a change in trend, this change probably is view as a retrace from the recent high established by the price itself.

Long position added with stop loss level below the cloud.

Any real shorts, consider only when below 9940.


Monday, February 4, 2013

Singapore Stocks - Ichimoku Analysis Week 5

FrasersCT


























This week, we will be looking at FrasersCT(J69U). This stock has had a good run since early 2012. It has been above the ichimoku cloud since late February 2012. Price action has never went into the kumo cloud until recently in last December

Technical Analysis (Ichimoku Chart)

Tenkan sen cut below the kijun sen the second time in recent periods. Price action had also went below kijun sen. In addition, price action is in the kumo cloud. Chikou span has also cut below the kijun-sen. The forward kumo cloud is getting thinner.

Trading Strategy (Ichimoku Trading)

Current price level is a good level for new position takers to come in and acquire the stock. Also, stop loss level will be tight, just below the ichimoku cloud level, around 1.90. Due to thin cloud ahead, the price action could be choppy. If sentiments are that the stock has had a good run and coming to end, look to short with price level below 1.90 and stop loss at 2.02 during initiation and adjust lower just above cloud hi.




Monday, January 28, 2013

Ichimoku Trading Strategy: AUDUSD forex trading since 24-Jan-2013 #1





















Established a short position in AUDUSD few periods ago when it traded below the ichimoku cloud. Price action since then has been drifted downwards.

Technical Analysis (Ichimoku Kinko Hyo)

Tenkan sen is just below the kijun sen, both heading southward going to break the ichimoku cloud lo. Chikou span had cut below the ichimoku cloud lo for quite some periods. The forward cloud is thick and turning bearish.

Trading Strategy (Ichimoku Trading)

Depending how the price action in the next few periods, these is not much trading opportunity. Any increase interest in the audusd activities will probably see saw the price action. Watch out.