Just some trades to share with on GBPUSD.
The first trade was established on 25 March 2013. A conservative approach towards using the ichimoku charting. Both tenkan-sen and kijun sen had cut above the kumo cloud earlier, followed by the chikou span. Await price action pulled back towards kijun-sen, then established first trade.
The second trade was established after the price action reacted north direction after touching the kumo cloud low. Similarly, established near the tenkan-sen level, as price action reacted when tenkan-sen was touched.
Third trade was established more of adding on to the bullish move. Tenkan-sen pulled back to kijun sen, established another trade upon that.
Nevertheless, price action pulled back, touching the kumo cloud lo. Continued to see the price action head north upon touching the kumo cloud lo.
The current pattern is very similar to how second trade was established. May want to look for opportunity to go long during pull back. At tenkan sen or kijun-sen? The forward cloud is thin, but changing towards a bullish cloud. With stop below the cloud, aggressively will establish when price pull back to tenkan-sen. Conservatively may want to wait till at kijun-sen.
As much as hope is there, prepare for the worse...
Singapore Ichimoku Trader
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