USDILS - Previous wedge retested, ready to move higher?

16 0 1
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.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out