Established a short position when the price action went into the ichimoku cloud, supported by the tenkan sen cutting below the kijun-sen, and chikou span approaching to cut the kijun-sen (it actually retraced upwards there after). Price action never really went above the ichimoku cloud, it came south, breaking the cloud lo, followed by chikou span cutting below cloud lo. Currently with go profit 400 pips ++.
Technical Analysis (Ichimoku Charting)
The downward move is gaining momentum, all indicators from the ichimoku indicated bear move now. The gap between the tenkan-sen and kijun-sen could signify further expansion of price action forthcoming. The forward bearish cloud has turned south sharply, providing the resistance needed. A thick cloud would be preferred though.
Trading Strategies (Ichimoku Trading)
Aggressive short to establish near the tenkan-sen, with stop loss above cloud. A wide stop, reduce the lot size to manage the risk. Or hold till 14-15 Jun to assess the price activity then.
Singapore Ichimoku Trader
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