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The808Trader
Dec 17, 2018 2:52 AM

GBP/AUD - Ichimoku Trade Setup- Time to regain ground? Long

British Pound/Australian DollarFXCM

Description

This pair has held support but I am still watching for a break of resistance to enter a short term buy trade. I've drawn out my entry and TP lines on the chart. If you notice for the setup on this one, I'm actually placing my TP and SL slightly off of my lines to get things a little room to breathe since this is such a tight trade. As soon as we break into that zone and hold I'll be getting long and may even hold past this TP level with a partial position. I'll have to be careful with this one due to the Brexit madness that is going on right now so I will only be risking 1.5% of my capital on this setup to be pretty conservative. If we fail to break into that zone or hold bullish confirmations, this setup may become invalidated.
Comments
Harpingo
This was a nice call. I'm just started studying Ichimoku trading today:)
The808Trader
@Harpingo, thanks! I have some free training on youtube over ichimoku if you search for The808Trader
Harpingo
@The808Trader, cool that's nice of you. Happy New Year:)
The808Trader
trade taken out in profit after adjusting stop loss when in profit
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