Continued from my previous post written few days ago.
3 ichimoku strategies were briefly discussed. I have chosen the first one, "... price below the cloud indicate a bearish view, short position could be added with limit sell at 1.2250.."
Had added another one at 1.2300. In short, more short positions were added during the last few days.
Tenkan sen did cut above jikun sen, and the price action high reached 1.2325. However, there was no momentum to the up swing from the price itself.
Technical (Ichimoku):
Tenkan sen is converging towards jikun-sen between 1.2200 to 1.2250, likely a change towards negative swing in the near term.
Thick kumo cloud ahead provide strong resistance to the price action.
Price action shows support coming in at 1.2150. However, take note if this level is break by the chikou span. It demonstrates the current mode is bearish.
Strategy (Ichimoku)
Do not go long until the path ahead is clearer when revealed by the price itself.
If going short, might look for opportunity around 1.2200 level, using a dollar stop according to individual risk.
No comments:
Post a Comment