From an standpoint the reversal would be in line with the market bias which is as price is trading above the Kumo. All signals are with the bright future, TK Cross and Chikou above the price. I am entering as price is trading above the close with a SL a few pips below the wick. My possible target is the previous level where I have the marked.
Few things to be aware of when trading is first the current price is trading between the Tenkan and the Kijun which shows the short term bias is . Also when Tenkan and Kijun are this far apart usually we will see ranging or consolidation as the Tenkan and Kijun find equilibrium. Finally our future Kumo is widening which shows market and usually price has hit a top or bottom and again we could see ranging. That wouldn't be all that bad if price ranges between the previous fractals which wouldn't affect our trade at all. If price violates the Kijun then we know we are probably wrong and will then re-evaluate our position. Check out our blog at http://www.fxatoneglance.com Have a great trading week and God bless!