The808Trader

GBP/USD - Ichimoku Short Trade Setup

Short
FX:GBPUSD   British Pound / U.S. Dollar
I'm moving to the daily chart for this analysis, so this will be a swing trade instead of our typical short term trade. We rose up at the end of last week and met the kumo cloud and kijun sen acting as resistance. If this resistance holds we can look for a sell. I am setting a sell entry below our current candle, but as an alternative I may take a sell at the kumo cloud if we have a good rejection candle. I'm setting a TP level at our previous structure low. If we fail to get a good rejection candle or break lower, this setup may become invalidated.

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