Short-term trade idea.
The price reached level 1.618 of retracement. You will see that Fibo 0.382 lies exactly on the SSB and that price touched exactly 1.618 level, this validates the Fibonacci layout as drawn on the chart. On Ichimoku side, the pair is bullish with a price above the Kijun. We may expect a correction that would first break the Tenkan and then target the Kijun. This could be the basis for the long trade as soon as there are signs that the trend is favorable again (support on Kijun + lagging span bouncing on the support 118.1). In the case of a price going towards Fibo level 1, we will wait for the rebounce with a break of 118.1 and a clear break of Kijun).
TP/SL set at appropriate Fibonacci levels. SL may be trailing by using the cloud SSB.
The price reached level 1.618 of retracement. You will see that Fibo 0.382 lies exactly on the SSB and that price touched exactly 1.618 level, this validates the Fibonacci layout as drawn on the chart. On Ichimoku side, the pair is bullish with a price above the Kijun. We may expect a correction that would first break the Tenkan and then target the Kijun. This could be the basis for the long trade as soon as there are signs that the trend is favorable again (support on Kijun + lagging span bouncing on the support 118.1). In the case of a price going towards Fibo level 1, we will wait for the rebounce with a break of 118.1 and a clear break of Kijun).
TP/SL set at appropriate Fibonacci levels. SL may be trailing by using the cloud SSB.
Comment:
Scenario 1 ongoing, bounce against the Kijun with this long wick on the red candle.
Comment:
This dirty animal was close from stop... bounced..
