Ichimoku Trading Strategy for Forex Trading 03 Jul 2014 #1

Price action has retraced quite a distant away from the high itself established some days ago.

Tenkan-sen, kijun-sen and chikou span remain above the kumo cloud. Tenkan-sen and kijun sen are converging towards each other, reflecting the volatility will be diminished in the periods ahead.

Chikou span is approaching tenkan-sen from the high, a sign to reflect sellers are gaining strength, and buyers are moving away to buy at such high price level above the tenkan-sen. 13600 level may be the battle ground between buyer and seller.

Price action bounced of the kumo cloud hi, and the kumo cloud remains thick ahead, providing the support needed for a bullish trend.

Ichimoku Trading Strategy ahead: May look to add long position between 13600-13620 with stop loss below the kumo cloud lo. Took minimum risk during this period, till price action reveals itself in the days ahead.

Ichimoku Trading Strategies 12-June 2014 #3

Price action met some resistance at level 13652 mentioned in the earlier post, but the resistance was short-live. Price action continued the move to 13700, it took quite awhile before 13700 was broken.

Profit level hit.

All ichimoku indicators were showing bullish signs. Tenkan-sen above kijun-sen, and chikou span above the tenkan-sen & kijun-sen 26 periods behind. And the kumo cloud is bullish and uptrend.

The concern in this bullish mood is probably the exhaustion of this price action, reflected by the widening gap between tenkan-sen and kijun-sen. and the price action activity away from the kumo cloud.

Ichimoku Strategy ahead, can look to build up position at tenkan-sen, kijun-sen level or even at cloud hi, depending how the price action reveals itself.

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Ichimoku Trading Strategies 12-June 2014 #2

It has bee quite some time since the last post.

Price action has been quite choppy during the past couple of periods, moving in and out of the kumo cloud.

Tenkan-sen, kijun-sen, chikou span have all cut above the kumo cloud, and the forward kumo cloud has just turn bullish and growing in thickness providing the support required for a bullish trend.

Price level 13652 would be a pivot point, or an important level to look at. That is the level where the current chikou span is below now.

Stop loss has been adjusted to protect the position.