Kumowizard
Long

USDILS - Previous wedge retested, ready to move higher?

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Old truth: Timing is everything. In this case tha means it is not enough just to break the trendline (the wedge), but price has to break above the Kumo too. That is still not enough. Price also has to clear the closest first major support. Basicaly I enterred my first Long Call in USDILS             too early. But now I have to re-call this trade idea as the chart gives some fresh signals, which worth to start focusing on again.

While still trading below the Kumo cloud, Price retested the previus wedge line, and actually couldn't make a lower low. Slow Stoch gives a buy signal, MACD turning bullish again (no bullish cross yet). Meanwhile the Kumo top came lower. First important level to watch is: 3,4740. In case price manages to break and stay above the Kumo for few days, then we can set up a buy order for normal trade size. The order will be an OCO             , with a limit buy at the Kijun level and a stop buy above the 3,4950 horizontal support line.

You can also try to go long now, as the non Ichimoku indicators turning bullish , but this size should not be bigger than 0,5 trade unit. Alternatively you can try to buy a Call option for 3 months, with a strike somewhere between 3,50 - 3,55.
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