Had established short position when chikou span cut below the kijun-sen. Established another at the cloud lo.
Technical Analysis (Ichimoku Charting)
Tenkan-sen has cut below kijun-sen since 27 May, coincidenty chikou span has also cut below the kijun-sen. Both the tenkan-sen and kijun-sen are in the ichimoku cloud, while chikou span remains above the ichimoku cloud. Price action is now below the ichimoku cloud lo and the forward cloud is turning negative.
Trading Strategies (Ichimoku Trading)
With the price action below the ichimoku cloud lo, it calls for a short, what is lacking is the chikou span cutting below the cloud low. With a chikou span cutting below the ichimoku cloud low, it firms up the negative environment to the price activities. Shorts may start to accumulate positions with stops above the cloud hi.
Singapore Ichimoku Trader
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