
While Ichimoku indicator may seem strange to a novice trader, it can be used in a very good trading strategy. Want to check it out? Read the article!
Don’t waste your time – keep track of how NFP affects the US dollar!
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2020-07-22 • Updated
Information is not investment advice
This strategy is called “Cherry-Blossom” because it suggests trading both American and Asian sessions. The idea proposed by this strategy is the following: American session is normally the one that shows the way, and the Asian session is the one that follows. So the approach here is to watch what happened during the American session and to open positions during the Asian session in the direction indicated by the American one. Opening positions is based on Fibonacci retracement levels as indicated below.
Practically, the American and the Asian sessions often do not trade in the same direction – in fact, it is very common that one trades against the other or goes into consolidation. Finally, in terms of time, it is the Asian session that opens the day, with the American session either confirming the moves or “disproving them”. For these reasons, a wider understanding of this strategy is suggested to make it more useful. Activating pending orders as in the image above requires the price to go into a retrace first, and then to fall into the observed direction. This relies on a wavy sideways pattern more than just on a trend continuation assumption. Therefore, it appears more practical to find a sideways pattern with a clear bottom or upper border, and apply the same steps.
While Ichimoku indicator may seem strange to a novice trader, it can be used in a very good trading strategy. Want to check it out? Read the article!
Earnings seasons offer unique opportunities for traders. This is the time when the largest American companies publish their earnings reports for the previous quarter. The price can jump or fall by tens of percent after these releases.
The stock market is full of various indices. Nasdaq is just one of them. But why is it so popular among traders? What makes it so special? Let’s find out.
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