Friday, March 7, 2014
As discussed previously, added another position near the cloud hi. Price action had gone in the direction of the trades.
The overall risk is 2% of the portfolio. The current reward is approximately 2.8 times the risk. It could have been 3 times if price action is trading near the high for the period.
Squared off 50% of the positions.
While the price action is bullish, with tenkan-sen, kijun-sen and chikou span above the kumo cloud, it should be noted the forward kumo cloud is thin, which has been noted in the previous post.
Stop loss level will be adjusted to reduce the overall risk of the positions.
Depending how the price action unfolds itself, to approach in a conservative manner.