Showing posts from August, 2012

Week 34

Review week 33Result: 1,5R
Open positions: USDCAD +0,7R, Brent Oil -0,2R, USDCHF 0R

This was an Ichimoku trade. After the medium tenkan - kijun cross I went short as soon as the price closed outside the kumo (white line). The chikou had also crossed the price action and MAs. I placed my stop 10 pips from the kijun and kept trailing it. I should have got out with a small profit when price had an open and close above the tenkan (the shorter white line), but I didn't. Then price reversed on worse then expected news on the Japanese economy, stopping me out at -0,5R. At the moment the pair is almost looking bullish again, especially if price will break out of the kumo.

Looking ahead to week 34For entries according to my trading plan I will be looking for long and short entries for following pairs:

short: USDCAD

Currently I am short on USDCAD and I have an add-on entry order based on last Fridays inside bar. Stop is …

Looking ahead at week 33 and reviewing week 32

Review week 32Result:
Brent Oil 2R
SPX500 -1R
Gold -1R
Total: 0R

Open positions:
Short USDCAD: +0,6R
Short USDJPY: -0,1R

Brent Oil kumo break trade
This was kind of a kumo break trade. As price broke out of the kumo on the 19th it closed below a S&R level. It than reversed to the flat kumo top further ahead where an indecision candle formed right on the 20 EMA and the kumo. I entered at a break higher of a significant level (see chart). I placed a stop just below the indecision candle and targeted 2R just before the resistance level of 112,00. There was one retest of the flat kumo and then price just continued climbing. The overall Ichimoku picture was looking very bullish.

Brent Oil now deserves a pull back as price has moved away from the mean quite a bit. Last Friday formed a bullish pinbar suggesting another move up is well possible. However I rather buy from the mean. As you can see my two trades on Gold and SPX500 past week (see charts below) were entered way off of the mean. So altho…

Looking ahead at week 32 and reviewing week 31

Review week 31Result: 1R in open position on Brent Oil, -0,2R on open position on USDJPY

Last week was a crazy volatile week for all Euro related pairs. So I did not trade them. I did get an entry long on Brent Oil that finally shot up on Friday. After my entry short on the USDJPY the position just kept moving side ways. I am still positive it will break down. All Ichimoku signals are still bearish and so is the price action. I have an extra sell order on the 77,86 level just to take adventage of a downward play.

Looking at week 32This week is all about the USD when it comes to the Ichimoku cloud analysis. There are no major USD related news event. However, there are some major news events related to the CAD and AUD. All and all, I will be keeping an eye on trading the following pairs in following directions.

Long: AUDUSD, NZDUSD, Brent Oil, SPX500

Gold did not close above the 1625 level and bounced lower. Friday it found support in the kumo and moved up and closed a…