Sunday, September 21, 2014

NZDJPY long term Ichimoku Best Forex Trading Strategy 04-Sep-2014- #01



Image: Oanda


TRADE

Date: 04-Sep-2014

Currency: NZDJPY

Entry: Buy Market 87.49

Reason for Trade/Setup: 

A very typical bullish view from ichimoku chart indicators, with tenkan-sen above kijun-sen, and both above the ichimoku cloud. Chikou span had also crossed over the kumo cloud and the forward cloud remained bullish. A Buy Market with stop loss below the ichimoku cloud. 

Initial Stop: 86.60

Initial Target: 90.25

INTERMEDIATE COMMENT

Price activity has moved higher, continued to see bullish cloud ahead. Stop loss level adjusted to a higher level.

RESULT

Outcome: NA

Exit: NA.

Profit/Loss: NA

Saturday, September 13, 2014

EURUSD Intra-day Ichimoku Best Forex Trading Strategy 12-Sep-2014








Image: Oanda


TRADE

Date: 12-Sep-2014

Entry: Buy Stop 1.2937, Buy Stop 1.2940

Reason for Trade/Setup: 

The ichimoku chart indicators were favorable to a buy set up, mainly tenkan-sen above kijun-sen, and tenkan already crossed over the ichimoku cloud. Chikou span had also crossed above the ichimoku cloud. While the forward cloud signaled bullish, it was rather thin, which may bring concern to the support to the price activity ahead.

The first buy stop was based on the current period high, whereas the second buy stop based on the recent high.

Initial Stop: 1.2915, 1.2915

Initial Target: 1.3003, 1.3015

RESULT

Outcome: Choppy. Price action went up and shot down the next 2 periods. Position was stopped out. 

Exit: Stop out.


Profit/Loss: -22, -25

THOUGHTS

There were high impact news @ 2030h and 2200h. However, it was not the plan to trade news. The price itself already reflected what it is or it was.

Perhaps when the forward cloud is thin, it may be wise to adjust the total risk for the trade(s) to be taken.

I am also aware that the price action now as I am writing this blog is now approaching 1.3000.

There will always be such days around.

Friday, September 12, 2014

EURUSD Intra-day Ichimoku Best Forex Trading Strategy 11-Sep-2014




Image: Oanda


TRADE

Date: 11-Sep-2014

Entry: Buy Market 1.2920, Buy Stop 1.2935

Reason for Trade/Setup: 

The first trade was a buy market. It was taken because all the ichimoku chart indicators point to buy/bullish. Tenkan-sen above kijun-sen, both above the ichimoku cloud. Chikou span also crossed above the ichimoku cloud again after drifting into the cloud earlier.The forward cloud was also reflecting bullishness. Price itself also above the Tenkan sen, and reflecting new high in the recent moves.

The second trade was of similar ichimoku trade set up, addition to it was the reference of the most recent high as an entry level.

Initial Stop: 1.2900, 1.2905

Initial Target: 1.3020, 1.3025

RESULT

Outcome: Choppy. There was not much movement for the night. 

Exit: Time to sleep.


Profit/Loss: +21 +6