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.
In the beginning of the week EURCAD slowed down with gains, currently it is near the high from two weeks ago. Ichimoku indicators show further gains, however it is worth to think before opening the position, soon the cloud will change colour to bearish. I’d rather will stay aside and watch development of the pair.
Buy signal showed up on GBPCHF. Tenkan line is above Kijun and lately there was a bullish break out of the cloud. There are only few dozen pips to the next key resistance, I don’t see a possibility to open the position with proper risk to reward ratio.
On Friday I wrote about the possibility to open short position on NZDJPY. My short (opened on 24option account – regulated broker offering really low spreads) at the moment loses a little, but it is good to see that broken support so far plays the role of resistance. We will see how the situation will develop.