Established a long position when price action touched the ichimoku cloud low. Tenkan-sen had cut over kijun-sen, and chikou span had cut over both the tenkan-sen and kijun-sen. The forward ichimoku cloud still bearish then and thick. However, a break above the cloud will signify a good bull run.
Technical Analysis (Ichimoku Charting)
Price action has now pierced through the thick bearish ichimoku cloud, chikou span has also cut above the kumo cloud. The forward bullish cloud remains thin, and support to the price action will be a concern. This has been eased off by price itself cutting through the bearish kumo cloud.
Trading Strategies (Ichimoku Trading)
The kijun-sen seems to be providing support to the price action at 12950 on 2 previous occasions. Aggressive takers may consider long at tenkan-sen level, conservative will look at kijun-sen to establish long. Not likely to consider to go long near the kumo cloud top, as the cloud itself is thin. It may just be the turning point from bull to bear.
Singapore Ichimoku Trader Trading Forex
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