IQ looks like it's ready to start a new rally. I'm looking for it to pop out of the Ichimoku Cloud. It has bounced off of the recent down trend line and looks to be headed back to the longer term up trend and emerge from the cloud. Once it does these things I'll likely open a starter position.
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To clarify MY entry, if it closes out side the cloud, I'll open a starter position and look to add on strength... comments and ideas always welcome.
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Notice how on Mar 29 (today) we are getting a bounce off the Longer term support/resistance line, the 50 Day SMA and the recent down trend line. However, I'm still waiting to close above the cloud for an entry. No need to rush.
Order cancelled
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This did not follow my idea. Trade never happened.This is on my watch list and if I have a new trade idea on it, I'll re-post.