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.
On the daily chart we can see buy signal – price broke up from bullish Kumo cloud. Long is also confirmed by Chikou Span line, which is above the price. I opened long position with 24option, Stop Loss is set below signal candle and the support at the same time. I didn’t set Take Profit level, price can reach at least to 80.00, maybe even higher.
Interesting situation on EURCHF. On the H4 chart we can see that price broke through the uptrend line, which was respected from the beginning of July. Additionally there was a bearish break through narrow Kumo cloud and break of Tenkan-sen above Kijun-sen. It would be a great possibility to open short, unfortunately Chikou Span line is above the price, so I will stay aside.