Entering long after the breakout This is not trade advice
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Price dropped a bit down. Now it should reverse and draw a nice W, breaking the red line and hold above it. Should the RSI jump strongly and be overbought immediately, then the trade is not valid even if the red line is broken. Watching RSI closely is very important.
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Bullish engulfing on H1. Strong bullish signal. Very nice !
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Order cancelled
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You see that even if we have reversal signs on different time frames, it is always good to trade with breakout confirmations. Price dropped. trade is now cancelled and I did not loose money ;-)
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As said in my previous post. Ichimoku is very bearish and it may drop to 1,08600 and lower before we see a reversal.