Looking at the NZD vs USD on the daily chart we can see price attempting to break above the Kumo. If price can violate the Kumo we can look for price to continue a bullish trend. Also at the daily Kumo level we can see the Monthy Kijun holding as a S & R level. With price breaking this confluence of resistance we would expect a trend upwards. We can enter the market once this level of resistance is violated and move our stop closer to the monthly Kijun level. Price could possibly retrace back to the daily Kumo level as a support level therefore keeping our stop just below the Monthly Kijun level should keep us safe. All Ichimoku signals on the daily chart are bullish once price breaks the Kumo. We also would like to see the Chikou break the Kumo to give us more bullish conformation. So our trade has us entering with a break of the daily Kumo @ .81352 with a stop at.80074 and an eventual target of .85647. We should expect to stay in the trade unless price breaks a fractal level low which would signify a possible change of trend. Have a great trading day and God bless!
Comments
motleifaul
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It sems that you interpreted the white candle reaching above the Kumo as a completed one. You better wait until the day has finished. The preious day had not broken above the resistance line. So you should have waited if the next day does.