Trading with Ichimoku: A practical guide to low-risk Ichimoku strategies by Karen Péloille

Author:Karen Péloille
Language: eng
Format: epub
Publisher: Harriman House
Published: 2017-07-16T22:00:00+00:00

In the 240-minute chart (left), prices are trading within the cloud, signalling market equilibrium and uncertainty regarding the future trend. The Lagging Span has not validated the fall in prices as it remains currently above its Kijun.

The 60-minute chart (right) confirms the lack of direction in the market. That said, the last candlestick attempted to rise above the Tenkan. This may foreshadow a possible test of the Kijun further up. I can therefore look to enter the market upon a break of the Tenkan with a stop just below it and a target established at the Kijun. I would not aim any higher because the thick cloud is likely to block prices.

I go ahead and fine-tune my entry by using the 15- and 5-minute charts.

Chart 4.25: GBPUSD, 15- and 5-minute charts

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