On daily chart, GU has already reached short term target. Thus we can take partial profit and let the balance lot ride the wave for some more profit target at Resistance 1. GU above Kumo, thinking only long trade.
On 4H chart, GU doesn't show she want to retreat at this moment. GU may wants to test Resistance 1 before continue bullish.
Trade Idea:
Look for long trade. No proper setup at this moment. Should wait for correction before entry.
Ichimoku Kinko Hyo is a purpose-built trend trading charting system that has been successfully used in nearly every tradeable market. It is unique in many ways, but its primary strength is its use of multiple data points to give the trader a deeper, more comprehensive view into price action. This deeper view, and the fact that Ichimoku is a very visual system, enables the trader to quickly discern and filter "at a glance" the low-probability trading setups from those of higher probability.
Wednesday, 6 April 2011
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