How to Make Money Trading the Ichimoku System: Guide to Candlestick Cloud Charts by Balkrishna M. Sadekar

Author:Balkrishna M. Sadekar [Sadekar, Balkrishna M.]
Language: eng
Format: epub, azw3
ISBN: 9788170949701
Publisher: Vision Books
Published: 2016-05-03T00:00:00+00:00

Trade Analysis

MTNL’s price closed above the Kumo on 24 January. All Ichimoku components were thus aligned for a long entry. A buy order placed above the preceding 9-period high was the correct entry setup. This would have executed the following day. On 24 February, the price closed decisively below the Kijun and the trader would need to abort the trade and get out at that point.

As mentioned all along in the previous examples, profit should always be taken on a continuous basis as the trade progresses along the expected path. If no profits were taken, then this would have resulted in a scratch trade.

There were a couple of days — 14 and 16 February for example — when the price closed just below the Kijun. But this was not decisive at all. In such cases, I would recommend getting stopped out the next day if the price moves below the low of the candle which closed below the Kijun.

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