Ichimoku short setup: AUDCAD

On the daily TF, we see a bearish tenkan-kijun cross above the kumo. An inverted bullish hammer was observed on tenkan sen. Strangely though, the kijun sen is pointing upward. Price has already crossed both the tenkan and kijun sen from above since last week. Chikou span is attempting to break through the prices which indicates that price is currently consolidating. Once the chikou span is able break free from the reins of the past 26 periods, it should be able to hit a home-run. The future kumo is still bullish but thick.

Trade active

Comment:

Hit TP1.

Trade closed: target reached:

Price hits BE.