Established a long position in AUDUSD. This is based on the price action above the ichimoku cloud ONLY.
The position is established based on reduce risk in terms of sizing.
Technical analysis (Ichimoku Charting)
Tenkan-sen has yet to cut to kijun-sen, and chikou span is still below the kumo cloud lo, though it has now cut above the tenkan-sen and kijun-sen. The forward cloud has yet turned positive either. Except the price action and chikou span above both the tenkan-sen and kijun-sen, the remaining indicators from ichimoku charting has yet firmed up a bull call signal.
Trading Strategies (Ichimoku Trading)
Long position may be established or may start to be established. Sizing may be increased gradually as more confirmation signals from ichimoku charting itself. May look out for tenkan-sen above kijun sen, forward cloud turning bullish, and chikou span cutting above kumo cloud hi.
Singapore Ichimoku Trader
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