I am long on this pair since it touched the .5 retracement (For other reasons). now this might be a good opportunity for me to add.
Ichimoku is bullish in 4H
We have signals that this could be a nice kumo break out:
•Kumo twist
•TK cross,
•Chinkou above price
•Price above kijun
On the D1 Timeframe we are still above the cloud, in what looks like a pull back.. expecting a kumo bounce,
-
For the SL placement i am selecting the kijun sen because it provides good support for price, and it is a tight SL.
If it does not go up now, we might retrace even lower, so i dont want to set a big SL if it will be taken anyway.
Ichimoku is bullish in 4H
We have signals that this could be a nice kumo break out:
•Kumo twist
•TK cross,
•Chinkou above price
•Price above kijun
-
For the SL placement i am selecting the kijun sen because it provides good support for price, and it is a tight SL.
If it does not go up now, we might retrace even lower, so i dont want to set a big SL if it will be taken anyway.
Comment:
I was expecting a stronger move up. So this is my SL. I will wait for a more clear picture.
Trade closed manually:
Stopped out.. I will wait to see another clear long setup for this pair. If it goes below 0.5 retracement i'll wait to see it bounce from another fib level, maybe .618?
Comment:
+11 pips.
Comment:
i should have let it run a little more. Does not matter, i still have one position open from 0.5 fib, and i'll look to add if price tells to do so !