A quick follow up on my Ichimoku post yesterday
My thanks to Ol’Bearskin, one of our Twitter followers for the question regarding exit strategies when using the Kumo cloud.
The second (live yesterday) USDJPY chart contained within the post gave a very good example.
If we accept the top of the cloud as resistance ( as per my comment on the above chart ). This was where I was happy to take partial profits. In fact it stated to look intraday ‘toppy’ over the next few hours and the remainder of my position was hit using a trailing profit stop.
Another cloud burst in Asia today can be seen on the below chart…………As I implied in my post yesterday – Please do not ignore the simplicity in favour of overloading your charts and overthinking your trading .I’ve learnt to appreciate the simple things …………..That’s why I enjoy the company of Si, K-man and Ryan 🙂