Ichimoku Trading Strategy: AUDUSD forex trading since 24-Jan-2013 #4

Established another short position earlier. Since last post, price action moved towards the ichimoku cloud lo and did not proceed further.

Technical Analysis (Ichimoku Charting)

Tenkan-sen is above the kijun-sen, and both below the ichimoku cloud. Trend continues to be bearish. Chikou span has not cut above the tenkan-sen or kijun-sen. This further enhanced the bearishness of the price action. The kumo continued to remain thick, providing strong resistance to the price action ahead.

Trading Strategies (Ichimoku Trading)

Long is not recommended. If persist on going long, will only consider when price action goes above 10320. And the next level to really give it a thought will be 1.0340.

Continue to look for opportunities to short, with stop loss above the kumo cloud high. Target level will be 10200.


Singapore Ichimoku Trader

Ichimoku Trading Strategy: AUDUSD forex trading since 24-Jan-2013 #3

Established another short position on 13 Feb when price action touched kijun-sen. Currently holding 3 short positions at 1.0464, 1.0396 & 1.0340.

Technical Analysis (Ichimoku Charting)

Tenkan-sen and Kijun-sen converging towards each other below the ichimoku cloud.Chikou span failed to break the 26 periods high looking forward. The kumo cloud is thick for the periods ahead providing the resistance to the price action.

Trading Strategies (Ichimoku Trading)

The trend continues its downward movement. Price action needs to break above ichimoku cloud @ 1.0400 level for a change in trend direction. While it is not impossible, it is not likely till price action proves it itself. Entry for short may consider current with stop at above the kumo cloud, or may choose conservative entry near the kumo cloud low. Entry for long would only be considered when 1.0380 is breached and actual entry would only be consider when price action break 1.0400.

Ichimoku Trading Strategy: USDJPY forex trading since 09-Jan-2013 #1

This is the first write up for the USDJPY trades. 2 long positions were established last month, another just established earlier.

Technical Analysis (Ichimoku Charting)

USDJPY has been trending upwards since last October. The price action has been trending well with all the ichimoku indicators. It had only touched the cloud lo some time last November. Other times it has been well supported by the kijun-sen. The ichimoku cloud remains constantly thick forward looking, continue to see support from the ichimoku cloud to the price action.

Trading Strategy (Ichimoku Trading)

Decided to establish another long position since price action reacted when it touched the kijun-sen in the recent move. Until  price reveals itself accordingly, will not recommend short.