Forex Ichimoku Trading Strategy

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.

Sunday, 3 April 2011

GBP/USD Weekly, Daily and 4Hours Analysis

Weekly chart shows GBP/USD (GU) price has broken the previous peak level. GU are currently in trading range while waiting for a fresh fundamental news to push it higher. Price is above Ichi Cloud and bullish still intact.

Daily chart shows the GU has just come out of Ichi Cloud but below Kijun Sen (KS). It shows that strength is still bullish. Downtrend line resistance is also one that is strong enough to GU out of the bearish trend.