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, 14 July 2011

EUR/USD Analysis 2011-07-14

EU in daily chart moving in bearish channel line. EU already broke the triangle pattern and bounce back to it previous line.

However, at 4H chart, EU touched resistance bearish line. Using standard RSI, bearish divergence is emerging. Stochastic also in overbought area suggest EU maybe at peak.