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.
Price on H4 chart is falling gradually for some time. There just happened a bearish crossing of Tenkan and Kijun lines. Cloud is bearish and sell signal is also confirmed by delayed Chikou Span line. I would rather wait with opening short position until break through key support at 1.6235, where in the past price reacted few times.
Price is currently in the area of D1 resistance. Sentiment is strongly bullish, Tenkan line is way above Kijun and the cloud is strongly upward. If there will be a break of 1.6600 resistance, we can think about opening longs.
We still can open long position on Cable, I wrote about it yesterday. So far we couldn’t see any confident gains on this pair, but position earns about 30 pips all the time. To open this position I recommend 24option broker, which offers exceptionally low spreads and convenient online trading platform.