Into the cloud we went last week indicating that this pair is ranging between trends. This is an ideal opportunity to possibly get into a new trend, should one form this week. Right now all signs point to bullish
, but kijun is getting pretty close to tenken. As long as our bullish
confirmations remain I expect price to move a little sideways here. I am looking for price to eventually have a bullish
breakout from the cloud which will possibly be a good time for me to enter. I'll keep my stop loss pretty short on this one. If I see any of the following signs, this trade will become invalidated for me and I will not enter.
1. If we maintain a bearish TK
2. If chikou span falls below price
3. If we get a kumo twist back to a bearish