An update from previous ichimoku blog's post.
Technical Analysis (Ichimoku Charting)
After establishing another position couple of days ago, price action was quite choppy thereafter. It had went into the ichimoku cloud, increasing the chance of a reversal should it trade below the ichimoku cloud. Tenkan-sen, kijun-sen had a cross over signaling the trend change, couple with the chikou span going below both the tenkan-sen and kijun-sen. However, just at the kumo cloud low, price action made another reversal upwards. Similarly, both the tenkan-sen and kijun-sen had a bullish trend cross over. More important, chikou span had also cut above both sen.
Trading Strategies (Ichimoku Trading)
No further elaboration is needed with the fact that both sens are in bullish direction couple with chikou span above boths sens and above the kumo cloud indicate a bullish view. The concerns ahead are the thin ichimoku cloud and a negative cloud prior to a positive cloud change. Aggressive trade will be to establish position with stop loss below the kumo cloud. Alternatively, a stop in above the recent high.
Singapore Ichimoku Trader
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