Ichimoku setup is in disiquilibrium right now. I favour the upside till 0.7260 resistance and to meet with Kijun line , 100 pips from current levels. SL below 0.7103 on a daily close
UPDATE : Stopped out and hedged thanks to the already opened NZDJPY . -60 +190
SteveTobin
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Not with you here, I do not like trading long below the cloud when using ichimoku, I can not see a chart pattern in that area of congestion that supports a long. I think I would stand aside here and wait for a clearer opportunity
Realisto_FX
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Yep totally right, usually for a counter trend I apply a more strict stop management. However in this particular case the rationale behind was the disiquilibrium between Tenkan and Kijun. Also in the portfolio I´m still short in NZDJPY to partially hedge
SteveTobin
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Yea I prefer this NZDJPY trade, I am already short the yen against the GBP and the AUD so no room to take another
Realisto_FX
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Let´s see how it develops, good luck mate
SteveTobin
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Sorry that should read short NZD against the GBP and AUD