An update from previous ichimoku post for AUDUSD.
Long positions were stopped out for AUDUSD as price action touched the kumo cloud lo.
Technical Analysis (Ichimoku Charting)
Tenkan sen has not cut below the Kijun-sen. However, chikou span has already cut below tenkan-sen and kijun-sen 26 periods back. Kumo cloud ahead is getting thinner which can work both way for the bulls and bears. Price action is now near the ichimoku cloud lo.
Trading Strategies (Ichinoku Trading)
The thin kumo cloud provides neither support or resistance to the price action forward. An upward trend cloud suggesting on the bullish. Nevertheless, chikou span gave an indication about the trading activities between now and 26 period back. It can be seen bullishness in the past 26 periods has been diminished by the sharp drop of price action.
Stay out till after 24 Apr.
Aggressive trader may want to look at short with stop over the cloud hi.
Conservative trader may consider going long when price goes above 10450.
Singapore Ichimoku Trader
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