Watching the break...

FX:EURGBP   Euro Fx/British Pound
318 3 31
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Looking to sell the first break of the daily lows
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8 months ago
Hi Ichi could you share more on what type of set up is this and what are the analysis you are using?
What I can see are:
1. A H&S was completed and price crossed kumo up to down, AO shown convergence - so now we are in down trend
2. Although price went a bit up, Ms CS now says that the up trend strength is 0, so should come down
3. KS and SSB looked down but now is flat - possibly it is not yet a strong indication that we should immediately sell, but watch as you said

Are my observations correct?

Is there any thing else you would add?

You said cross of daily low ie 0.7808 would take us short. Are we looking for any signal, ie level 1?

+1 Reply
Ichimoku_Trader aziz.au
8 months ago

Yes, it's the same movie i just told you about in the gold chart. Here is how the story goes
Up trend, new highs, divergence, break below the kumo, correction to the kumo, drop back down (not too much and very slowly), repeat
+2 Reply
aziz.au Ichimoku_Trader
8 months ago
Thanks again.
+1 Reply
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