The Monthly and Daily remain bullish Have a text book cloud breakout The only thing I don't like is the time as it is 4 pm est and I prefer not to take trades this late in the US Session, so I will wait for the Asian Session which may provide for a pullback opportunity and/or a smaller stop
Entry = 77.95 above the Daily Tenken Sen (Red line) Stop = 77.31 Risk = 64 pis Profit Target = 80.23 (10 pips before the Daily D Ext.) Reward = 228 RRR = 3.5 - 1
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The Breakout trade has not triggered yet and price is now falling back. A great place for a pullback trade would be the confluence of the Senkou B (top of cloud) and the 60 Kejun Sen (blue line) we need a bullish bounce, ideally an engulfing or morning star formation, to enter.