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.

Thursday, 19 May 2011

GBP/JPY Analysis 2011-05-18

We are looking for GJ to break the recent Supply Line as stated in 1H TF. GJ currently in flat range, refer 4H TF as we can see bigger range between Supply/Demand line. Traders may want to see GJ in bullish channel before making long entry. I believe sooner or later, GJ will change it course to bullish. Anyway watch out if GJ continue bearish.

Trade Idea : As GJ neutral at long term chart, I want to take risk by put a Buy Stop at 1H TF. SL is manual according to personal money management. Traders may want to make Sell entry now and SL at recent peak.

Happy Trading.