I am sick, since Sunday, down with a soar throat and cough.
Thursday, August 21, 2014
Another winning ichimoku strategy for forex trading!!!
This forex blog post came late.
Let's do a quick review on the forex trade based on the ichimoku charting above.
As usual, tenkan-sen below kijun-sen, together with chikou span, all were below the ichimoku cloud low.
Placed a stop in sell order and was triggered at 1. I had also placed another stop in order as shown at 2. That order was cancelled later as I was going to sleep.
Looking at the price action, we could see that the price level that I sold was really new the low for the night. And there was chances that the price may look to go into the ichimoku cloud. It didn't.
On Ichimoku charting, tenkan-sen did cross over the kijun sen. However, just one signal from the ichimoku charting is not significant enough to conclude as a trend change. Chikou span span had not crossed kijun-sen. And more important, none crossed over the ichimoku cloud.
I left the position opened as I already knew there would be news later on. News worked both way, in your favor or against your position. The important thing is that stop loss had been placed above the cloud high. So the risk had been managed.
Woke up this morning, saw the position making money, closed out as shown at 3.
Ichimoku forex strategy is one of the simple trading strategies.
Wednesday, August 20, 2014
Another Ichimoku Winning Trade for Forex!
Hope that you had read the forex blog the day before, cause the set up was rather similar for today's trade.
I had done a market sell @ around 1515hr. The basic principle, to sell below the cloud low. Of course, the overall ichimoku charting had reflected bearish for prolong period, with tenkan-sen below kijun-sen, and chikou span below the kumo cloud. The trade was done during office hours using mobile phone.
I placed another stop in trade at around or just before 2030h. There were news to be released at 2030h. Same trade set up the day before, placed stop in level below tenkan-sen. And there it went, price smacked down and the trade got triggered.
I had placed to close partial position at 13295 level, and target level with 3: 1 ration. Again, what we want is one thing, what the market is giving is another. Time to sleep, I square off the positions.
Using ichimoku charting for Forex gives one of the best forex trading strategy.