CapMoore

Price Seeking Support By the Kumo Cloud. Trading Strategies

FX:EURUSD   Euro / U.S. Dollar
134 0 6
Price is seeking support by the Kumo Cloud, Weekly S1
and the 61.8 FIB of recent swing.
We might see a bounce here towards 1.0950-85
which would give opportunity to sell the pair if we
see a reversal candle or sell signal, to trade with the
weekly and monthly trend, which is bearish . This would
also be a classic channel breakout trade.
If price instead plunges through the cloud and close below
it, it will give a Ichimoku Sell Signal, and price is likely to test
the multi year lows. The projected cloud is about to twist.

Scalpers my look at Intraday charts to seek a long trade
following a Cloud bounce.
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