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.
Yesterday I decided to open buy limit pending order in the area of upper band of Kumo. I expected, that after strong gains there will be a bearish reaction. The position was opened quite fast, small SL caused, that at some time the position was already half the way to being closed. Fortunately, the situation reversed and now I have about a dozen pips of profit.
On the H4 chart we can see, that price is sliding on the edge of bullish Kumo. If in this place there will be any clear buy signal, we can open long position targeting the resistance in 152.90 area. We just have to be careful about reward to risk ratio, it has to be bigger than 2:1. To open this position I recommend STO broker, which is regulated both by FCA and CySEC.