Forex Reversal Strategy With Ichimoku Kinko Hyo

A trend reversal strategy composed of the Ichimoku Kinko Hyo indicator and Awesome Oscillator.

Please choose longer time frames for better results.

Chart Setup

Indicators: Ichimoku Kinko Hyo, Awesome Oscillator
Preferred time frame(s): 1 Hour and above
Trading sessions: Any
Preferred Currency pairs: All

Download

Download the Forex Reversal Strategy With Ichimoku Kinko Hyo for Metatrader 4.

EUR/USD 4 Hour Chart

forex-strategy-with-awesome-oscillator-

As shown in the EUR/USD chart above, price has closed below the Ichimoku Kinko Hyo Down Kumo ( purple dotted line) and the awesome oscillator below 0.0 and red color.

Open sell order at 1.3616.

The Euro fell over 320 pips against the U.S. dollar.

Trading Rules

Buy Rules:

  • Wait for a close above the Ichimoku Kinko Hyo Up Kumo (orange dotted line)
  • Awesome oscillator above 0.00 and green colored bar

Buy the pair! Place stop below the previous swing low.
Price objective method 1: risk-to-reward 1.5 or better.
Price objective method 2: Close the trade just below the previous swing high (resistance).

Sell Rules:

  • Wait for a close below the Ichimoku Kinko Hyo Down Kumo (purple dotted line)
  • Awesome oscillator below 0.00 and red colored bar

Sell the pair! Place stop above the previous swing high.
Price objective method 1: risk-to-reward 1.5 or better.
Price objective method 2: Close the trade just above the previous swing low (support).

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