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Oct 18, 2021 3:49 PM

Strong Bullish Kumo Twist: Long NAS100USD (M30) Long

US Nas 100OANDA

Description

Although the kumo breakout (supported by bullish TK cross and bullish Chikou cross) took place a few candles ago, the kumo was flat. Hence, the trade was ignored. However, even if the trade was taken 4 candlesticks ago, the stop loss would have been tight.

A long trade is now taken because:
1) Strong bullish kumo twist since it happened when price > kumo
2) Chikou > price
3) Tenkan/Kijun + SSA/SSB are parallel and both are pointing upward
4) Price > 200 EMA which points upward
5) Further confirmation by Stochastic and MACD gold cross

Trailing SL helps to limit the losses when the price moves in our favor.

Trade active

Risk free trade. Trailing SL to let profits run.
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