It has been quite some time since I last posted. I was busy relocating to my new home.
Continue from the last ichimoku audusd post.
I have squared off another position with some profit as can be seen on the up blue triangle. Current left with one open position, with stop loss at the red line level.
Technical Analysis (Ichimoku Charting)
Tenkan-sen is above the kijun-sen, and chikou span as cut above both the tenkan-sen and kijun-sen. And all remain below the ichimoku cloud. Price action itself has already cut above the ichimoku cloud though. The forward ichimoku cloud is thin, while it can provide support to the price action activities ahead. After such a quick strong trend dowards, a chikou span above the ichimoku cloud would be a more convincing trend change.
Trading Strategies (Ichimoku Trading)
Aggressive traders may choose to go long with stop loss below the ichimoku cloud. Similarly, for those with a view to go short, may consider to go short now, with stop loss near the red line level or a money stop loss
Else, for long traders, look out for chikou span cutting above the ichimoku cloud. For short traders, await for price action to go below the ichimoku cloud again.
Singapore Ichimoku Trader
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