From this week I have made two lose of trading. One of the trade is my mistake. The Trade on Buying EUR/USD should not appear on my trading rules. For more information I have post it on my First Page on the Sticky Post. Anyways, I am going to remind myself the Rule on Different Indicator.

20 Simple Moving Average: When the price is breaking above the 20SMA it is a Buy. When the price is below the 20 SMA, it is a Sell.
Beware: When the price is over 20 SMA but the candlestick is Short Candle

Slope Direction: When the price is break above the slope line it is a buy but sometime it is not right when the color of the Slope Direction is Short Signal.

Ichimoku Kinko Hyo’s Kumo: The 3ird important indicator to indicator on what small Trend Signal right now. It is a faster Trend signal than Slope and 20 SMA. That’s why even though if the price is break above the kumo, the price have to break Slope Direction or 20 SMA.

How’s important on the Weekly Chart?
Weekly Chart is indicator the Longer Term Trend on the Market. This is a good Signal when if you wasn’t sure the Trend on the Daily Chart.
For example, the trend on the Daily Chart on USD/CHF is Neutral right now. On the other hand, the Weekly Chart show that the trend is still Bearish. That’s tell me that I should focus on Short USD/CHF when the signal on Daily Chart is right.

Daily Chart
EUR/USD

Daily Chart
Trend: Bullish
Status: Active
Indicator: Slope Direction: Short, 20 SMA: Short, Kumo: Long
Weekly Trend: Short
Entry: Long from the 50 pips above the Kumo

Summary: Although both Slope Direction and the 20 Simple Moving Average has a Sell Signal, it seems the trend is going Bullish after it break above the Ichimoku Kinko Hyo’s Kumo. I would like to take a risk to place a Long on the EUR/USD. Because both indicator didn’t match my entry, I will just place the Target to 150 pips. Meanwhile, the Weekly Chart on EUR/USD is still in a Bearish mode, so I have put a Sell Stop on EUR/USD.

Status: Active
Entry: Long @ 1.43206
Stop Loss: 1.41552
Target: 1.44650
Date: 5/19/11

Status: Pending
Entry: Sell Stop @ 1.41552
Stop Loss:1.41552
Target: N/A

USD/CHF

Trend: Neutral
Status: Active
Indicator: Slope Direction: Long, 20 SMA: Long, Kumo: Short
Weekly Trend: Short
Entry: Long Since 5/11/11, having touch my Stop Loss

Summary: Since 5/11/11 the usd/chf have break below the Kumo. However, my stop loss is set at the 20 SMA at that time. Therefore, my trade have not Exit yet. Meanwhile, the trend is start getting upward but still haven’t touch the Kumo. I would wait and see if the price is either hit the stop loss or going to my Target at 100pips. Like EUR/USD, the weekly trend is still in the Bearish mode and it happen since 2010 June 20. In this situation I will place a Sell Stop at USD/CHF below the 20 SMA.

Status: Active
Entry: Long @ 0.88304
Stop Loss: 0.87613
Target: 0.90304
Date: 5/11/11

Status: Pending
Entry: Sell Stop @ 0.87290
Stop Loss: 0.88540
Target: N/A

Daily Chart
Trend: Bearish
Status: Active
Indicator: Slope Direction: Short, 20 SMA: Short, Kumo: Neutral
Weekly Trend: Short
Entry: Short below the Ichimoku Kinko Hyo’s Kumo today after it hit my stop loss on my buy position on eurusd today. I should not place a Long on my last trade because both SMA and Slope Direction is Bearish Signal.

Summary: Both Slope Direction and the 20 Simple Moving Average has a Sell Signal, it seems I make a mistake on my last trade (Long on EUR/USD). Today the price going back below the Ichimoku Kinko Hyo’s Kumo. I should not take this kind of risk to place a Long on the EUR/USD yesterday because both indicator didn’t match my entry, I will not place any trade when any of the SMA and Slope Direction is not match the trend. Never think that Kumo is your Main Trend Direction of the Trade. Using Kumo as a minor indicator.

Status: Active
Entry: Short @ 1.41552
Stop Loss: 1.42777
Target: N/A
Date: 5/20/11

Status: none
Entry: None
Stop Loss:none
Target: N/A

USD/CHF

Trend: Neutral
Status: Pending
Indicator: Slope Direction: Long, 20 SMA: Long, Kumo: Short
Weekly Trend: Short
Entry: Have been using touching Stop loss to stop the Long trade Since 5/11/11,

Summary: All I can say is the situation of USD/CHF is kind of wired. The price is over 20 Simple Moving Average and the Slope Direction. However, one wired thing is the price is below the Kumo. This can tell me that the Trend is Neutral. Also, the price is touch the 20 SMA already. Anyways I already place a Sell Stop below the 20 SMA. I will see if the price touch my sell stop next week.

Status: Pending
Entry: Long @ 0.8900
Stop Loss: 0.88082
Target: 0.90483
Date: 5/20/11

Status: Pending
Entry: Sell Stop @ 0.87290
Stop Loss: 0.88540
Target: N/A

Even if the trend is break the Kumo, I will not place a Long order because it still not a good opportunity to buy eurusd. It should wait until the price is touch the 20 simple moving average or the Super trend line.

Summary: Stand Aside

* Base on the History of Daily Chart on EUR/USD, the trend may going back to Bearish after the price is break above the kumo.

Therefore…. pay attention on the price these days and

Ready to Short EUR/USD if the price is going back to below Kumo.

USD/CHF:

The Trend on Daily Chart on USD/CHF already break below the Kumo. I should exit the long trade right aways. I will place a Short order on USD/CHF if the price is going to break below the 20 simple moving average.

Summary: Ready to Sell USD/CHF

In fact…

I am not sure about the EUR/USD when i am looking at the weekly chart on EUR/USD. The Trend is now still Bearish on weekly chart. Even though it may break over the kumo, it havn’t break the moving average yet.

On the Daily Chart on EUR/USD
It seems that the Trend will going up and break the Ichimoku Kinko Hyo Kumo. However, I am sure that the price will move upward to about 1.45 to 1.4550.

USD/CHF Weekly Chart is definitely keep going downward for many years. As you can see it should be place a Short order on usd/chf when the daily chart on usd/chf signal is bearish.

I have a mistake during this trade. I place a Long order on USD/CHF because their daily chart show that it is a Bullish signal. I should exit the trade when it have a 100 pips profit.

I have been trying to use scribd to embed to wordpress.com because I find some of the blog is very cool to embed their document on scribd.

I have use google doc first and import to scribd. However, it seems like it is not working on the scribd to embed to wordpress.com.

I will try slide share next time

The price is going up a little bit these days. If you are using 4 hour or less, you may already Buy GBP/CHF. However, I am using the Daily Chart to trade. I will wait when the price is going above the middle band on the Bollinger Bands.

Another Currency Pair EUR/CHF has the same situation.

I may use GBP/CHF to trade this time.