kijunsen

EURAUD Bump n Run

Long
FX:EURAUD   Euro / Australian Dollar
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1
EDIT: Trade is now confirmed and in play. This is a possible 900 pip extended move. If you're not in. Wait for a pullback to the Tenkan-sen on a lower time frame. As always beware of a major pullback on the daily. A good chance to catch some short pips on a kumo break or kijun-sen cross on H1 or H4.

EDIT: Time frame extended.

Bullish bump and run in play.
Entry on confirmation by crossing trendline.

Beware the pullback. just after crossing the trendline before continuing

Time frame for this trade is long. 30-80 days.
T1: is 1.26ish area.
Main Target is 1.336

*note market will go wherever it wants.

Ichimoku analysis.
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Daily price has been rejected off the Tenkan-sen.
Price action has formed a bearish engulfing pattern but until confirmed. It is invalid and the bump and run is in play.

Kumo has a bullish twist while the chikou is in the cloud but is above price.

Weak Bullish TK cross from August 16-17

Comments

Quick update on this. It's all bullish. Price above Kumo, Kijun-sen and Tenkan-sen. Chikou-span above price and the kumo.
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I like that - "*note market will go wherever it wants." Well said!
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Agreed.
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