Ichimoku Kumo Renko Trading System Update as at November 23, 2016

A few pairs have broken out of the Kumo lately and led to some nice entries.

Here is a selection, note that the bars are ten pip Renko bars.


USDJPY is doing nicely after falling back to the Kumo a couple times.

USDJPY

NZDUSD climbed through the Kumo only to fall bac with the resistance being strong and now looks to go lower.

NZDUSD

AUDUSD has failed at the Kumo and dropped back

AUDUSD

EURUSD has fallen again with the sharp rise in the US Dollar recently

EURUSD

Ichimoku Kumo Renko Trading System Update as at November 21, 2016

AUDUSD

AUDUSD

The Aussie has fallen close to 6 percent since the US Election, partially due to the fall in the preice of Iron Ore and the prospect of a rate increase in the US.
Although there is a bit of a retrace occurring presently, some people expect the decline to continue to approximately .6500.
The Renko bars on this chart are ten pip bars, you can see that they contain the price action nicely.


EURNZD

EURNZD

This pair has reached what appears to be a double bottom and may be starting to reverse its fall. However, many expect the Euro to reach parity or close to it with economic and political uncertainty in Europe. Meanwhile the New Zealand Dollar seems to have discounted the recent earthquake although the damage is estimated at close to NZ$2.5 billion.


EURUSD

EURUSD

The US Dollar has been benefiting from expectations of an interest rate rise recently and some of the enthusiasm has started to wane a bit in recent trading. The run up has lasted for about ten days and traders have eased off on their  buying. You can see that price is entering the Kumo at this time, we will have to wait for a while to see if there is a long transaction.

You can see that the Renko bars combined with the Ichimoku Kumo make an excellent combination for scalping.

Ichimoku Renko Trading Strategy

 

You will find this Ichimoku Renko Trading Strategy to be extremely simple and also very profitable as a quick scalping method. Once again, the indicators for this system are included in most trading packages or are freely available for download on the internet.

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