The first trade of the year 2013!
Price action has been moving uptrend since the cross over the kumo cloud. Consolidation was formed since mid December 2012, before the break off yesterday (Probably due to the intermediate resolution to the fiscal cliff).
Technical (Ichimoku)
Tenkan-sen and kijun-sen converged and pointed downwards into the kumo cloud. Chikou span had already cut below the kijun-sen, but remains above the kumo cloud. The forward kumo cloud is getting thinner, resistance may not be strong. Price itself had penetrated into the cloud but yet form a period below the cloud lo.
Strategy (Ichimoku)
With no existing position, established a small short position just at cloud lo. Depending how the price reveals itself in the next few periods, opportunities arise between 13100-13200 or when below 13050. Stop loss level above cloud hi.
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