salsapete
Long

AUDJPY Renko Triangle Breakout & Ichomoku Long

FX:AUDJPY   Australian Dollar / Japanese Yen
TheIchimoku Cloud is a filter for the direction we should trade. Short positions are taken beneath the cloud and long positions above the cloud.

A long trade is proposed when the following criteria exist

1. Price breaks out from the triangle to the upside and above the cloud.

2. There is a retest of the trendline and or cloud.

3. Price should close above the tenken sen.

4. We want to see 2 long bricks before we enter.

The stop loss is beneath the cloud/trendline.

Target is nearby resistance (B).



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