Continued update from previous ichimoku blog.
Technical Analysis (Ichimoku Charting)
Tenkan sen has now cut below kijun sen, chikou span has also now cut below the tenkan-sen. The forward kumo cloud is getting thicker. Price action itself also trading below the tenkan-sen and kijun-sen. The bullish trend continues to be in tact as far as the price action is above the kumo cloud. Nevertheless, the various signals could hint a bearish thought in a bullish environment. The thick kumo cloud provide the support required for the bull trend to maintain. A need of stronger bearish sentiment to have a change from bullish trend to bearish trend.
Trading Strategies (Ichimoku Trading)
Current level is appropriate for conservative takers to embark on the bullish trade. Have added another position when the price action retreated significantly a couple of days ago. Maintain bullish view with stop loss below cloud lo. Unless price goes below the cloud, else maintain bullish view.
Singapore Ichimoku trader
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