Ichimoku Trading Strategy: USDJPY forex trading since 09-Jan-2013 #2

Update from previous post. All long positions stopped out with minimal profit.

Technical Analysis (Ichimoku Charting)

Price action had went below the ichimoku cloud lo, but bounced back into the kumo region. Tenkan-sen inline with kijun-sen, and chikou span had cut below the kijun-sen. None of the lines is below the ichimoku cloud. The forward cloud is beginning to show signs of change, awaiting further confirmation from the kumo cloud itself.

Ichimoku Trading Strategies

A change in trend will only be considered when chikou span cut below the ichimoku cloud. If not, still favour a long when should the price action emerge out from the ichimoku cloud hi.

Aggressive taker can choose to go long or short now while price is in the kumo region, with stop loss at the other end of the cloud.

Singapore Ichimoku Trader

Ichimoku Trading Strategy: USDCAD forex trading since 18-Jan-2013 #4

Update from previous post.

Price action has been trending upwards. Partial profit locked. between 1.0220 & 0.9920 around 300 pips

Singapore Ichimoku Trader.

Ichimoku Trading Strategy: AUDUSD forex trading since 24-Jan-2013 #4

Established another short position earlier. Since last post, price action moved towards the ichimoku cloud lo and did not proceed further.

Technical Analysis (Ichimoku Charting)

Tenkan-sen is above the kijun-sen, and both below the ichimoku cloud. Trend continues to be bearish. Chikou span has not cut above the tenkan-sen or kijun-sen. This further enhanced the bearishness of the price action. The kumo continued to remain thick, providing strong resistance to the price action ahead.

Trading Strategies (Ichimoku Trading)

Long is not recommended. If persist on going long, will only consider when price action goes above 10320. And the next level to really give it a thought will be 1.0340.

Continue to look for opportunities to short, with stop loss above the kumo cloud high. Target level will be 10200.


Singapore Ichimoku Trader

Ichimoku Trading Strategy: AUDUSD forex trading since 24-Jan-2013 #3

Established another short position on 13 Feb when price action touched kijun-sen. Currently holding 3 short positions at 1.0464, 1.0396 & 1.0340.

Technical Analysis (Ichimoku Charting)

Tenkan-sen and Kijun-sen converging towards each other below the ichimoku cloud.Chikou span failed to break the 26 periods high looking forward. The kumo cloud is thick for the periods ahead providing the resistance to the price action.

Trading Strategies (Ichimoku Trading)

The trend continues its downward movement. Price action needs to break above ichimoku cloud @ 1.0400 level for a change in trend direction. While it is not impossible, it is not likely till price action proves it itself. Entry for short may consider current with stop at above the kumo cloud, or may choose conservative entry near the kumo cloud low. Entry for long would only be considered when 1.0380 is breached and actual entry would only be consider when price action break 1.0400.

Ichimoku Trading Strategy: USDJPY forex trading since 09-Jan-2013 #1

This is the first write up for the USDJPY trades. 2 long positions were established last month, another just established earlier.

Technical Analysis (Ichimoku Charting)

USDJPY has been trending upwards since last October. The price action has been trending well with all the ichimoku indicators. It had only touched the cloud lo some time last November. Other times it has been well supported by the kijun-sen. The ichimoku cloud remains constantly thick forward looking, continue to see support from the ichimoku cloud to the price action.

Trading Strategy (Ichimoku Trading)

Decided to establish another long position since price action reacted when it touched the kijun-sen in the recent move. Until  price reveals itself accordingly, will not recommend short.

Singapore Stocks - Ichimoku Analysis Week 6

AMTEK ENGINEERING LTD (M1P)






This week, stock under the watch out is AMTEK ENGINEERING LTD (M1P). This stock has been trending lower since early 2012.

Technical Analysis (Ichimoku Charting)

Tenkan sen had cross over Kijun-sen while in the ichimoku cloud region, and had been diverging away from each other, a sign of increase in momentum of the price action. Chikou span, has also cut through tenkan-sen and kijun-sen, more important, it has cut above the ichimoku cloud high. The next resistance level to watch out for will be 585.

Trading Strategy (Ichimoku Trading)

A long at current level or better with stop loss below 500, this is almost 17% risk. However, this risk could be reduce further in a couple of days time to 10% with stop loss level is shifted to 530. First level to worried about the long position will be around 555. 630 will be a level to watch out if the price action manage to break through.

Ichimoku: Tenkan-sen

Tenkan-Sen, also known as the conversion line, is the mid-point between the highest high and lowest low known for the past 9 periods.

It is often compared with 9 period simple moving averages (SMA).  However, both are very different in their own context. Tenkan-sen measures the average of price’s extreme high and low known in the last 9 periods, whereas SMA is the average of the closing price for the last 9 periods.

If the high and low used in the calculation occurred less than nine days ago, Tenkan-sen remains the same the next day. These sideway periods make the Tenkan-sen “flattening”, whereas the 9 periods SMA does not.

The chart below shows the visual comparison between Tenkan-sen and 9 periods SMA.

USDJPY Daily Chart with Tenkan-Sen Vs SMA

Tenkan-sen, when used on its own, provides an indication of the current price momentum compares to the prices over the last 9 periods based on how acute the line changes.

When used with reference to the current price period, Tenkan-sen offers insight to the trader whether the current price is being supported or resisted by Tenkan-sen.

Often, Tenkan-sen is used for its relation to Kijun-sen for the near term trend indication. When Tenkan-sen is above the Kijun-sen, it is bullish. When Tenkan-sen is below Kijun-sen, it is bearish.

USDCAD Daily Chart

The chart above illustrates the Bullish and Bearish signals when Tenkan-sen used in connection with Kijun-sen. It also shows how the current price momentum affects the Tenkan-sen change in angle.

Ichimoku Trading Strategy: AUDUSD forex trading since 24-Jan-2013 #2

Price action has been falling south since position first established below the cloud. It had briefly touch the ichimoku cloud low again some time 30/311 January 2013. Nevertheless, it has drifted lower since then.

Has added another position in the last few periods. Price has drifted lower by almost 100 pips.

Technical Analysis (Ichimoku Charting)

Tenkan sen converges towards kijun-sen after widening seen in the last few periods. Price action has also lowered quite a distant away from both the tenkan-sen and kijun-sen. Chikou span remains below tenkan-sen and kijun sen. More important, it is below among the 26 periods forward. The ichimoku cloud is tilting southwards and getting thicker. The thick ichimoku cloud will provide the resistance to the price action if it trends upwards.

Trading Strategy (Ichimoku Trading)

Resistance level anticipated around 1.0380. Dun recommend long, if need to, entry with fixed stop, target profit level at below the cloud.

Else, await for opportunity, go for short near tenkan-sen level with stop loss above ichimoku cloud.

Ichimoku Trading Strategy: USDCAD forex trading since 18-Jan-2013 #3

Price action rallied since establishing the position on 18 January, it reached its top at 1.0100.

Technical Analysis (Ichimoku Charting)

After rallying to its recent top in the last few periods, price action retraced downwards to the current level. Tenkan sen has also cut below the kijun-sen. Chikou span has now cut the tenkan sen while maintaining above the kijun-sen. All remain above the ichimoku cloud. The forward cloud is getting thicker for the next few periods.

Trading Strategies (Ichimoku Trading)

With price action above the ichimoku cloud, the immediate short term to mid term view remains bullish. While the immediate sign from tenkan sen cutting below kijun sen represent a change in trend, this change probably is view as a retrace from the recent high established by the price itself.

Long position added with stop loss level below the cloud.

Any real shorts, consider only when below 9940.

Singapore Stocks - Ichimoku Analysis Week 5

FrasersCT

This week, we will be looking at FrasersCT(J69U). This stock has had a good run since early 2012. It has been above the ichimoku cloud since late February 2012. Price action has never went into the kumo cloud until recently in last December

Technical Analysis (Ichimoku Chart)

Tenkan sen cut below the kijun sen the second time in recent periods. Price action had also went below kijun sen. In addition, price action is in the kumo cloud. Chikou span has also cut below the kijun-sen. The forward kumo cloud is getting thinner.

Trading Strategy (Ichimoku Trading)

Current price level is a good level for new position takers to come in and acquire the stock. Also, stop loss level will be tight, just below the ichimoku cloud level, around 1.90. Due to thin cloud ahead, the price action could be choppy. If sentiments are that the stock has had a good run and coming to end, look to short with price level below 1.90 and stop loss at 2.02 during initiation and adjust lower just above cloud hi.