Kumowizard
Short

EURNOK - Sell after Kijun and Kumo retest

FX:EURNOK   Euro Fx/Norwegian Krone
58 1 2
Now we have a firming sell signal. After testing the Kijun Sen and the Kumo we have a nice bearish candle, and the trend may break finally. Tgt             is 8,2950-8,3000

The other reason to put on this chart is to show some simple new script I placed on ROC indicator. Sometimes I find Slow Stoch less reliable and giving some false or confusing signals on the 4 Hrs time frame, so I try to replace it with this ROC combo. Upper panel is 71 period ROC vs its 76 period EMA, the lower panel is 91 period ROC vs its 58 period EMA.
Basic rule is that you can take trade signals in a direction when both ROC/EMA stays same way and you have a Tenkan/Kijun cross too. You can still decide wether you take weak Tenkan/Kijun signals, or if you wait for further confirmation or stronger signal, like a Kumo breakout. Still, if you had long, when ROCs crossed their EMAs and Tenkan crossed back below Kijun, it was a signal for decreasing momentum and to reduce/close bullish position.
The importance of the "zero" line is the same, when ROC is below the momentum is increasing bearish , when it is above, then increasing bullish .

This simple strategy is being tested, I hope it will give even better indication about momentum changes than Slow Stoch itself.
Don't forget, the main trading strategy will be still based on Ichimoku system.
ACROFX
2 years ago
Interesting upcoming days will be if we break and close below 8.40. This will in my view confirm a sell-signal. For now, we are rangetrading between 8.40 and 8.50. Also notice a possible HS-formation :)
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