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.
I show this chart not because there was some interesting opportunity to enter the market, but I just wanted to notice how great the daily uptrend line is working. It was drawn all the way back in July and since then it was breached only once and not for long. Price quickly started gaining again. Currently we can see another bullish reaction near the trend line, from the beginning the pair gained about 800 pips.
My opened position started to shrink profit, price was quite close to the entry level. Fortunately today we can see strong bullish rebound, thanks to that position started to earn again. What’s interesting, we can how great Kijun line works as the support, price reversed just a little above it. I opened this position with 24option – the account with really small spreads.
Opened short on NZDJPY is steadily falling. There is a long way to the Take Profit yet, price is not even in half the way there, but on Friday I secured the position on Break Even, so in worst case scenario I won’t lose any money.