Ichimoku 'Wave', formed a nice trade entry into a long position. I created a wave pattern yesterday on the same chart but was a little premature. For those not currently in the last trade, the wave we have created today is a (stronger) valid wave.
Our target is a 'N' wave calculation. (of note, trading this pair I have found the Ichimoku 'N' wave to be the most frequent hitting target.
How I trade this set-up
Conservative - Await for price to break the 'B' leg (109.796) and set your stop on the 'C' Leg (109.429). If price drops below 'C' leg trade set-up becomes invalid. (My trading style)
Our target is 110.306.
When price hits a projected wave target look at price action and see how price is re-acting to that level. The five lines of Ichimoku will help.
Any conversation around this Ichimoku set-up is greatly welcomed. Please note there is no time frame as to when price hit's these levels, my last trade, took a couple of days to hit my target. Potential Trade stays valid whilst price fluctuates between B - C 'I' Wave.
Good Luck ;)
Our target is a 'N' wave calculation. (of note, trading this pair I have found the Ichimoku 'N' wave to be the most frequent hitting target.
How I trade this set-up
Conservative - Await for price to break the 'B' leg (109.796) and set your stop on the 'C' Leg (109.429). If price drops below 'C' leg trade set-up becomes invalid. (My trading style)
Our target is 110.306.
When price hits a projected wave target look at price action and see how price is re-acting to that level. The five lines of Ichimoku will help.
Any conversation around this Ichimoku set-up is greatly welcomed. Please note there is no time frame as to when price hit's these levels, my last trade, took a couple of days to hit my target. Potential Trade stays valid whilst price fluctuates between B - C 'I' Wave.
Good Luck ;)
Trade active
Comment:
Comment:
Just for knowledge, small wave formed in B - C leg ('I' wave).
Comment:
Trying to keep everyone updated on what I'm looking at. The 4Hr chart has a possible Kijun Cross (strong bearish signal). Please adjust your stops appropriately.
Comment:
Comment:
Of note my stop has been moved to 110.148. Trade risk free now ;)
Comment:
Our target still stands 110.306. Good luck
Trade closed: target reached:
Our stop was reached at 110.148. Giving us a 352 pip profit. I wouldn't usually have such a tight stop move but the Kijun cross on the 4Hr chart is represented as a strong signal (in Ichimoku trading) for bearish reversal.
There's still no reason our target 110.306 won't still be reached. I just had two trades going and happy with the total of 905 over two days.
I'll continue to monitor this trade set-up even tho I not in it now and continue to give analysis for those still in. Good luck.
There's still no reason our target 110.306 won't still be reached. I just had two trades going and happy with the total of 905 over two days.
I'll continue to monitor this trade set-up even tho I not in it now and continue to give analysis for those still in. Good luck.
Comment:
Comment:
Time to start adding up pros and cons.
4Hr time frame Kijun cross (bearish strong), Momentum starting to fall (Kijun) and now a Shooting star (bearish candlestick).
Adjust accordingly ;)
4Hr time frame Kijun cross (bearish strong), Momentum starting to fall (Kijun) and now a Shooting star (bearish candlestick).
Adjust accordingly ;)
Comment:
Sorry I miss read the 4Hr chart the Kijun cross it was a weak bullish signal (haha my bad, to many distractions this morning). For those still in the trade that's a good thing and our Kijun cross has gather momentum again on the 1Hr time frame.
Shows stick to the plan!! O well learn from mistakes haha
Shows stick to the plan!! O well learn from mistakes haha
Trade closed: target reached:
For anyone who stayed in the trade, well done ;)
Profit 512 pips!!
Profit 512 pips!!
