Is the Bank of China using Ichimoku?

Every morning when I wake up I check my phone for trade alerts that triggered overnight and then Google News for what happened in the world while I was asleep.  I always hope for something crazy to happen to make my day more interesting.  Most mornings it’s just going to be a regular trading day.

China has “unexpectedly” devalued their currency… and that was “why the US stock market futures were down.”  Cool story bro.  I’m sure that today’s down move has nothing to do with seasonal statistics.  It must be because “reason we have to write about to fill a news article.”

It also seems that the BOC was looking at Ichimoku charts to base the date of their decision:

usdcnh daily 8-11-2015

usdcnh daily 8-11-2015

They waited until the exact day that Chikou momentum would be coming out of the Daily cloud to make the announcement and send the USD/CNH flying bullish.

 

If you would like to learn how to trade like an institutional trader or learn more about our multi-timeframe email alerts, go to www.ichimokutrade.com or email us at info@eiicapital.com

EDUCATIONAL USE: Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you cannot afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.

About the Author Maneshkumar Patel