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.
Opened position on AUDJPY is gradually gaining, the profit is already about the size of 1 SL. There is still a long way to reach the target, but the position has positive swap, so I don’t have any reasons to complain.
New Zealand dollar lately is dynamically appreciating comparing to other currencies. There is an interesting opportunity to open short position on EURNZD. Price reached Kijun line and then rebounded from it. In this place a bearish pin bar was created, I marked it with an arrow. I opened short position with a Stop Loss just above signal candle, and the target on the daily support. It gives nice reward to risk ratio above 4:1. To open this position I recommend STO broker, which offers low spreads on cross pairs.
After dynamic break below bullish Kumo, price is back next to the cloud, which now is bearish already. We can see that Senkou Span A line is well respected so far. It gives a possibility to open short position on this pair. Unfortunately, these plans are ruined by Chikou Span which is above the price, the system won’t allow us to open this position.