Ichimoku is an investment strategy of trend following, it works great on H4, D1 and higher time frames. In this series of articles I present my setups and observations using Ichimoku, supports and resistances and Price Action patterns. You can also check previous Ichimoku overview.
AUDNZD
On the H4 chart Tenkan line crossed above Kijun, it is a signal to open long position. In addition price is close to Senkou Span A, which is upper band of Kumo cloud. If we take a look at Chikou Span, it is hard to tell whether we can open long position or not. This is why we should check the line chart.
On the line chart of AUDNZD we can see that Chikou Span is a little above the price, so we can go long. I will stay aside, because I already a have short on the NZD cross. Besides that I have a feeling that this is not the end of consolidation and the position can close with a loss.
GBPCAD
Opened position on GBPCAD is getting close to the level of last high, where it reached in the first day of being opened. The profit is equal to the beginning SL, so I decided to move Stop Loss to the Break Even. We will see what will happen next.
GBPNZD
Yesterday in the late evening there was a break of Tenkan line above Kijun, so we can think about opening longs. Chikou Span confirms this position. To do that it is worth to check 24option offer, which has low spreads even on cross pairs. I don’t open the position because I already have both long on GBP and short on NZD.
NZDJPY
Slow march to the south of opened short is still on. Maybe soon I will start moving SL in pair with Kijun line to secure part of the profit. So far price is about half the way to Break Even.
