The808Trader
Long

Time to get Long? - GBP/USD Ichimoku Long Trade Setup

FX:GBPUSD   British Pound / U.S. Dollar
With rate cuts from the FED certain, we may start to see some continued USD weakness from last week. For this setup I am waiting for a little more sideways movement before looking at a possible FX:GBPUSD bullish kumo breakout. I would also like to see the kumo twist complete to a future bullish kumo to help confirm as well. Chikou span is in a good place and we've already had the bullish TK cross so our other confirmations are already there. If we can get a good bullish breakout entry I've drawn a longer term target as well as some partial take profit levels to aim for along the way. If we fail to get the breakout or hold bullishly, this setup may become invalidated.
Comment: Price did not hold in the kumo and get a breakout, so setup is invalidated and not entered
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