EUR vs AUD Kumo Bounce Short Opportunity 2-16-16

FX:EURAUD   Euro Fx/Australian Dollar
Looking at the EUR vs AUD on the H4 time frame we can see that price has rejected the Kumo on the previous candle. Also there is a bear fractal that is in align with the Kumo resistance. I have always been preaching fractals but it seems to fall upon deaf ears but these fractals are major trading areas where the market tends to pull back too and give you an opportunity to follow the strength of the market if you trade them properly. There are a few ways to trade these fractals but no time now to discuss that! That fractal level is around 1.5691 and it is support right with the Kumo. Now based off of Ichimoku we are bearish in every phase and the H4 current structure is bearish with just looking at price in itself. So since price is rejecting our resistance levels we will enter the market when the low of the rejection candle is violated and place our SL above the rejection wick so we are basically trading inside out on the rejection, If we look at the daily time frame we will see price is sideways and Ichimoku does not do well in that environment so we are just going to focus on price being sideways and trading within a range. Price has previously bounced off of the range resistance level and appears to be moving towards the bottom support at 1.5277 so this will be our target with this opportunity. Once price violates the rejection candle if it does then our trade idea is void. Hope this helps you learn a little about trading Ichimoku and also fractals. Please visit me at

ChaosTrader63 Managing Director & Trading Coach - Look At The Financial World With A New Glance
Twitter: @ChaosTrader63
Closed this trade out with 365 pip profit
Currently this opportunity has yielded 107 pips profit. Please watch this setup on youtube to understand more how I entered here:
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