FxxTrader
Short

Ichimoku trade set up

FX:AUDUSD   Australian Dollar/U.S. Dollar
2167 0 1
I've had some success trading with ichimoku . Here is an example of a small trade using ichimoku on the 5 minute chart from a signal on the 4 hour chart at resistance level.

The stop is originally on the other side of the cloud (which is a big stop) but would be adjusted if a tenkan / kijun cross occurs before targets get reached. The adjusted stop would move to either the highest point of the last 26 or 9 bars depending on price action.

This set up can become more reliable if a harmonic pattern can be found.

Through effective trade management this can become a risk free trade. The key to ichimoku is knowing where the tenkan and kijun input values are. That is know where the 26 and 9 periods HH and LL are as these are the bars that effect the lines.
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