Ichimoku Trading Strategies EURUSD 31-Oct-2013 #1

A new trading position established for the EURUSD couple of days back. At the time of establishing the position, price action had a sharp penetration through the ichimoku cloud in one period. Tenkan-sen just went below the kijun-sen, but remained above the ichimoku cloud. Chikou span just cut below the kijun-sen, also above the ichimoku cloud. The forward cloud was thicked, though "bullish". When price action went below the thick "bullish" cloud, it probably meant something. The trade was in then.

Looking forward, a lot of "space" for the price activity below the kumo cloud. Unlikely to see a bullish price action for the next few days unless there is sufficient fundamental change.

Ichimoku Trading Strategies NZDUSD 04 Sep- 2013 #5

Finally, or unfortunately, the positions were stopped out recently.

For reference to where the positions were, you may refer to this post.

Ichimoku Trading Strategies NZDUSD 04 Sep- 2013 #4

An update to the existing positions.

Patience is one virtue one needs in trading. The very first position started in 04 Sep , 2 more positions were added on 24 Sep and 11 Oct. To just sit and wait for the price action reveals by itself maybe something easier to say than do.

The green line is the take profit level.

Of course, another school of thoughts will be to let profit run, just place a stop loss below the cloud lo, we never know how far it will go. That is not wrong. It's just different.

Ichimoku Trading Strategies NZDUSD 04 Sep- 2013 #3