USDJPY LOSS

USDJPY LOSS
2nd May 2017 contacttf
The Ichimoku Cloud, also known as Ichimoku Kinko Hyo, is a versatile indicator that defines support and resistance, identifies trend direction, gauges momentum and provides trading signals. Ichimoku Kinko Hyo translates into “one look equilibrium chart”.

Trade did not work out as expected. The Ichimoku cloud was flat on the 1min chart. The trade was taken with caution using a tight stop.

I got stopped out for 5 pips.

The Ichimoku Cloud is an indicator designed to tell you everything you need to know about a price trend, including its direction, momentum, dynamic support and resistance levels, and even trade signals. The Japanese name—Ichimoku Kinko Hyo—means “one look (or glance) equilibrium chart.”

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