Thursday, April 20, 2006

Ichimoku Kinko Hyo

This trade I was going for a much smaller gain. With the help of indicators my entry point was clearly defined entry point when the Tenkan-Sen (red) crossed Kijun-Sen (blue) and the Chinkou-span (Lime) gave strength to the sell signal backed up by the trend in the four hour chart.

Sell 1 lot AUD/USD

Price: 0.7443

Stop Loss: 0.7455

Take Profit: 0.7430

Outcome t/p hit no emotional intervention a 13 pip gain or $USD130 gain. I will continue to investigate the Ichimoku Kinko Hyo indicator.

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