The808Trader
Long

Aussie Strength Waning? - Ichimoku GBP/AUD Long Trade Setup

FX:GBPAUD   British Pound / Australian Dollar
After a long down trend, the pound finally found some footing. We are entering the kumo and I am watching for the possibility of a new bullish trend to form as the GBP tries to claw it's way back. As the week progresses I'll be watching for a bullish kumo breakout and completion of the kumo twist to bullish to help confirm it's time for an entry. I've set my entry at a flat spot on the kumo which should act as a good gauge if we'll make the move up or not. If we can close through that level we should try and climb quite a bit higher. If we fail to break through the kumo or hold price structure support , this setup may become invalidated.
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