The Monthly and Daily direction is Bearish.
The market has retraced, and been rejected at the Daily Senkou A (bottom of the cloud) at 1.5841
I anticipate the market will drop back to the cloud, either the Senkou A (top) or the Senkou B (bottom)
and then rally back to retest the Senkou A at 1.5841
2 Potential entries;
First, the aggressive entry would be to place sell limit orders at the Senkou A
with a 50 pip stop
Second, wait for the confirmation of the Cloud breakout trade
The market has retraced, and been rejected at the Daily Senkou A (bottom of the cloud) at 1.5841
I anticipate the market will drop back to the cloud, either the Senkou A (top) or the Senkou B (bottom)
and then rally back to retest the Senkou A at 1.5841
2 Potential entries;
First, the aggressive entry would be to place sell limit orders at the Senkou A
with a 50 pip stop
Second, wait for the confirmation of the Cloud breakout trade
Trade active:
This trade is now active with an entry at 1.5841
Trade closed: stop reached:
:(