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 H4 chart we can see that EURGBP broke important support at 0.8785. Today in the morning there was a try to break above this level, as a result we see bearish pin bar. We can think about opening short position, I recommend using 24option – a broker offering more than 200 different financial symbols. Tenkan line is below Kijun, the Kumo cloud is bearish.
Unfortunately, the position closed on SL this morning. Price broke below support from daily chart and all area of bullish Kumo. Eventually I lost 2% of my balance.
Yesterday I wrote about possibility to open the position on daily chart. In the beginning the position brought more than 20 pips of profit, now it is in BE area. We should wait for further development of situation, technical didn’t change.