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.
Welcome after long break. For a few weeks there were no Ichimoku overviews, now I come back with fresh look on the charts. I managed to open my first position after the break, more details below.
On the H4 chart there was a buy signal – Tenkan line crossed Kijun from below. Cloud is bullish and Chikou Span is above the price. I would wait for opening the position until break above 0.9870 area, lately we could see bearish reaction twice in this place.
Great strengthening of euro against Canadian dollar caused break from bullish Kumo cloud. At the same time there was another signal – Tenkan line is above Kijun. It is worth to wait with opening long position until break above last high at 1.4838, in this place bears can be in power.
On the H4 chart we can see that NZDJPY price broke below important support and Tenkan line is below Kijun. When we move to the daily chart we can also see another signal which is bearish break from the red Kumo cloud. I opened short position with the target on another key support in 76.65 area, so far the price is in BE area. I opened this position with 24option broker, which offers exceptionally small spreads and wide choice of financial instruments.