Continued from previous forex blog. Unfortunately could not wait till 14-15 Jun to assess the price action then. Since the last post, price action had a major pull back above the the kijun-sen. Added another short positions. There is now good profit to be taken, probably the question is at what level?
Technical Analysis (Ichimoku Charting)
All indicators from the ichimoku itself indicate bearish outlook. There is not bullish signal near term. The only weakest link in the bearish mood is the thin kumo cloud ahead.
Forex Trading Strategies (Ichimoku Trading)
It is better to take a conservative approach to establish new short position when price action is near the kijun-sen level with stop loss above the ichimoku cloud hi.
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