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Ichimokuforex

Kiwi to Shine? - Ichimoku GBP/NZD Short trade SetupWe nailed this one last week, let's see if we can make it two weeks in a row. This pair saw a big drop last week before ending in a drawback. I am looking for a further move to the downside here as price has stalled out near kijun sen. This pair has been a little sloppy as far as respect of tenken and kijun sen, so I'm not too worried with it not being a super tight rejection here. This is also a an order that I will probably set as a sell stop. It's a tight enough stop loss that I'm not to worried about not watching it, if it gets triggered. This is also a setup that will have a lot to do with the outcome of Brexit. So, depending on the news, this may progress rapidly or slowly.
Short
by The808Trader
More Brexit Weakness? - Ichimoku GBP/JPY Short Trade SetupWhile this setup has a technical bias to back up the move I'm looking for, the overall movement will be direct determined based on the outcome of Brexit. With all the chaos going on whatever the final outcome is, will end up moving this pair drastically. If you are into looking for price structure patterns, some might call this a bearish flag. Either way I am looking for a drop below the last few candlesticks low for an entry. If we can break below that then we should be able to push further down to the previous price structure lows I've marked up. I've also drawn some partial profit targets as well along the way. There's even a few more targets we can aim for if you look left at price structure. I'll adjust as it moves if we get the breakdown I'm looking for.
Short
by The808Trader
JPY Safe Haven? - Ichimoku USD/JPY Short Trade SetupWith the news from the FOMC that there would be no interest rate hikes for the rest of the year, we saw a big drop across the board on the USD. When you add in the fact that the JPY is typically a safe haven during times of economic turbulence, we saw an even more extended move with this pair. I am looking for that continued move to the downside in the long run so I've set up a break of resistance as my entry. We may get a drawback first, but this can easily be set as a sell stop, and wait for a triggered entry. I've set some partial profit levels I'll be looking at if we do get a confirmed sell. I will also hold a small portion of the trade if we hit my longer term TP and let it progress. If we fail to break lower or our bearish confirmations change, this setup may become invalidated.
Short
by The808Trader
Dollar gains? - Ichimoku USD/JPY Long Trade SetupUSD saw a slow continuous move up from support last week. Right now we are at kijun sen testing support. I am looking for a good entry at kijun sen for a chance to get long, that could come in the form of a strong support candle or a break back up above the triger line. If we get that good entry we can look for a price back to price structure highs from last week. If we fail to hold support or make a move higher then this setup will become invalidated.
Long
by The808Trader
Swiss gains? - Ichimoku USD/CHF short trade setupThis pair saw a big move down last week and while ranging inside the kumo we saw further resistance to the upside. We ended the week with another attempt at a a breakout and some nice bearish candles. I am looking for a break of the previous bearish wick to enter into a sell position. I've drawn out some potential targets to aim for along the way to our major TP if we get our confirmations as entry. I'm keeping a tight stop loss at the kumo cloud, it should allow enough breathing room but it can always be moved up to price structure lows to allow for more room if necessary. If price fails to break lower or our bearish confirmations change, this setup may become invalidated.
Short
by The808Trader
CHF breakout? - Ichimoku NZD/CHF Sell TradeThis pair formed a very strong rejection candle at tenken sen and has continued it's bearish move down. I am looking for a break of price structure to look for a short entry. I've set my TP at a previous price structure low, but I've drawn out several areas where I will look to take partial profit at or at the very least watch to see if support looks like it will hold there. If we fail to break support or climb lower then this setup may become invalidated.
Short
by The808Trader
1
Euro bullish vs the yen? - Ichimoku EUR/JPY long setupWe've been on a tremendous bullish run with this pair over the last week and a half or so and momentum has slowed a little bit here. I've zoomed into the 1 hour chart to look for a drop near kijun to watch for support to hold. If we see that drop a nice wick forms at support, that will signal another entry to get long in this pair. I've set my TP at the top of previous price structure highs, but I may take partial profit along the way if this setup gets triggered for a long entry. If we fail to get a good drop to support, or if that support does not hold, this setup may become invalidated.
Long
by The808Trader
2
Euro to do the Pounding? - Ichimoku EUR/GBP Drawback SetupFor this setup I'm zooming in on the 1 hour time frame. While this pair remains on a bearish trend overall on the larger time frames, it looks like we will be getting a drawback. Keep in mind that since this setup is technically a drawback right now that it carries a little more risk than a standard trend trade setup, so I will only be risking 1.5% of my capital if this trade is triggered.I am looking for an entry if we break above our previous candle to enter a buy position. Since it is a drawback setup (for now) I am not going to aim too far out for my TP. I've drawn several areas that if we see strong resistance I will close partial or the whole position out at. As an alternative entry for slightly better risk to reward, we could also wait for a test of kijun sen again and look to buy there, should a support candle form. I mentioned that this is a drawback setup for now, the reason behind that is, should we hold support and see some bullish signs on those higher time frames, this setup could end up being an early reversal. If we fail to hold support or climb higher, this setup may become invalidated.
Long
by The808Trader
1
CAD to beat down the Aussie? - Ichimoku AUD/CAD short sell setupThis pair saw a firm rejection at kijun sen last week and I'm looking to try and take advantage of that bearish momentum to get into a short position. I've placed my entry at the body of previous support and price structure, I'm looking for a break of that level to continue the bearish momentum we've seen. I set my TP at the tip of the extended wick we can see on the left side of this chart. If we look like we have good momentum I'll leave some of the position to run in profit. If we fail to keep our bearish confirmations or if we fail to break lower, this setup may become invalidated.
Short
by The808Trader