Square off partial position for profit taking the day before, remaining positions remain open.
Technical Analysis (Ichimoku Charting)
Price action came south hard, piercing through both tenkan-sen and kijun sen, and it has brought tenkan sen cutting below kijun-sen soon. Chikou span is now hoovering above tenkan-sen, and may look to cut below tenkan-sen and kijun-sen soon. The ichimoku cloud remains thick looking forward, and look to provide good support to the price action.
Trading Strategies (Ichimoku Trading)
General view remains bullish. Very much is dependent on the price action itself. Current level or cloud top level will be levels to look at to establish long with stop below cloud lo. Short is not really recommended at such stages.
(On a side note, some meeting later today may have big influence to the price action, not of a concern here though)
Singapore Forex Trader
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