AUDUSD - Wake up call! When to take profit on longs?
I think it has become stretched a bit, so probably worth a partial profit taking now, and if I had any positions myself I would move my total and final stop sell to 0,9300 - 0,9330 area.
(unfortunately I am not long, normally I do not trade it as not in my trading time zone).
Daily: Slow Stoch is about to gove a bearish signal, and while all Ichimoku components are bullish, price has run up too much from Kijun Sen. As we know price tends to swing back towards equilibrium level from time to time. Also as a thumb rule, when DMI lines are too wide and far from each other, and naturally ADX runs up (as the trend is really strong), when the upper DI line crosses the ADXline, can be an early warning signal for a pull back and sometimes even a signal for the end of trend.
4 Hrs: It is mixed a bit, rather bearish characters in the right panel Heiken Ashi. What we have to watch is the highs of the 4 hrs candles (in the central 4 Hrs panel). If the next few candles can not print a higher high, then in line with higher daily time frame's signals price will likely attack the Kijun Sen, and later the 100 WMA and the Kumo. Please not that the daily Tenkan Sen is exactly in line with the 4 Hrs Senkou B (lower line of the future Kumo Cloud), which gives even bigger importance for the 0,9332 support level.
This is why I suggest to move your final stop sell order to 0,9300 to lock your profit in time.
Also this was again a very good example to show how powerful Ichimoku Kinko Hyo is in multi time frame analyses!
Good luck, and congratulations for those who managed to hold longs so far riding the trend.
(unfortunately I am not long, normally I do not trade it as not in my trading time zone).
Daily: Slow Stoch is about to gove a bearish signal, and while all Ichimoku components are bullish, price has run up too much from Kijun Sen. As we know price tends to swing back towards equilibrium level from time to time. Also as a thumb rule, when DMI lines are too wide and far from each other, and naturally ADX runs up (as the trend is really strong), when the upper DI line crosses the ADXline, can be an early warning signal for a pull back and sometimes even a signal for the end of trend.
4 Hrs: It is mixed a bit, rather bearish characters in the right panel Heiken Ashi. What we have to watch is the highs of the 4 hrs candles (in the central 4 Hrs panel). If the next few candles can not print a higher high, then in line with higher daily time frame's signals price will likely attack the Kijun Sen, and later the 100 WMA and the Kumo. Please not that the daily Tenkan Sen is exactly in line with the 4 Hrs Senkou B (lower line of the future Kumo Cloud), which gives even bigger importance for the 0,9332 support level.
This is why I suggest to move your final stop sell order to 0,9300 to lock your profit in time.
Also this was again a very good example to show how powerful Ichimoku Kinko Hyo is in multi time frame analyses!
Good luck, and congratulations for those who managed to hold longs so far riding the trend.
