April 11, 2007 – CADJPY (Daily)

This is my first post for this blog. This is going to be the beginning of a very good blog especially with Vincent Hunt (www.huntfx.net) as my mentor. My training on the Ichimoku Trading System and the creation of this blog website is all attributed to Vincent Hunt. A great THANK YOU goes out to Vincent Hunt.
Strategy Type: Position Trade Strategy
Trading Plan: The direction of this pair is going to be bullish. The Entry will be based on the price moving above a Chikou Span
resistance value + 5 PIP once price is above the Kumo Cloud. Another blog will be created with all the criteria for entering a
Position Trade Stategy. The Kijun Sen will be used as the Stop (-5 PIP). If the Kijun Sen goes flat once 100 PIP have
been collected then we will switch to the 240 timeframe and Swing trade during the consolidation period.
Summary of All Indicators:
1. Chikou Span->Bullish
2. Kumo Price (Price in respect to the Kumo Cloud) ->Bullish
3. Kijun/Tenkan crossover->Bullish
4. Kumo Cloud Future->Fresh Bullish
5. Kumo Shadow->No
6. Kijun Sen-> Upward-> Bullish
The trade was entered in 4/6/07 at the Entry Price.
For EDUCATIONAL USE.    Commodity Futures Trading Commission, Forex, Futures, Equity and options trading has large potential rewards, but also 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 can not 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 provide d on the Blog is for educational purpose .

About the Author Manesh Patel