Kumo Breakout: Long USDJPY (M30)
Daily chart and H4 Chart: Bullish momentum
Buy conditions:
1) Kumo breakout.
2) Price > 200 EMA
3) The kumo breakout took place 4 candles ago. Unfortunately, there wasn't any bullish TK cross and so the trade wasn't taken then. In the next candle, we will see the bullish TK cross. However, I am taking the long trade now as the Chikou span has just crossed the price and the cloud.
4) SL is set at Senkou span B and it would be used as a trailing SL.
Buy conditions:
1) Kumo breakout.
2) Price > 200 EMA
3) The kumo breakout took place 4 candles ago. Unfortunately, there wasn't any bullish TK cross and so the trade wasn't taken then. In the next candle, we will see the bullish TK cross. However, I am taking the long trade now as the Chikou span has just crossed the price and the cloud.
4) SL is set at Senkou span B and it would be used as a trailing SL.
Trade active:
Risk free trade. Trailing SL.
Trade closed manually:
Price closes below Kijun.