Several trade opportunities this morning with the Ichimoku momentum strategy : USDJPY and EURUSD
Shorting GBPAUD as a signal appears on H4 timeframe.
A good signal on AUD / CAD. Price above cloud, Kijun and EMA are trending up and RSI bounced on 50 mark. Stoploss at last fractal.
Loss of 69 pips on AUD/NZD.
I think I maybe need to be a bit stricter on the entry criterias (thanks for those of you giving me heads up), too many recent trades have been taken with uncertain slope on Kijun or a bit of distance on the RSI from the 50 mark. Let’s see if a few good trades can turn things around for the month.
I got stopped out as my GBP/USD pair retraced above the last fractal level. Loss of 44 pips. Risk level remains very low at max 1% of my account on each trade. Looking back at the signals on my last two trades, maybe the EMA and Kijun slopes were a little weak.
My long trade was stopped out below fractal. 35 pip loss. Maybe uptrend wasn’t strong enough.
Two long signals given yesterday on GBP/USD and GBP/JPY, so far so good.
My stops have already been trailed to the latest fractal.
A second winning trade today, with a 151 pip gain on my USD/JPY long. This trade delivered near R2 profit and exited on a trailed stop. Once again the signal was good, and maybe this could have been played out to greater gain, but as I explain in my strategy I have a very tight stop once I’m over 3R gain since I never want to give back any part of it.
Exited my long USD/CAD with a 195 pip gain. The profit is close to 4R. A very good signal with good momentum. I never give back that kind of profit to the market, my money management works that way.
All the system’s components are aligned. Price above cloud, EMA and kijun slope up, RSI has bounced. Go long. Stop at fractal. Read about my Ichimoku momentum system.