The price is traded below the cloud today, hence there is a bearish bias in this pair this week.
Counter trendline breakout, i'm short in this pair now. :)
The Price is traded below the cloud, this indicates that the pair is in a downtrend mode.
So what's next? This is the opportunity to ride the trend. Just follow the trend.
If the price breaks the support level as shown on the chart, then i'm going to sell this pair. :)
The price is traded above the cloud . That indicates the bullish bias/ uptrend .
If the price is close above the previous highs/ resistance , then there is an opportunity to make dimes in this pair.
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The price is now traded below the cloud.
Bearish/ Downtrend is clearly shown by the cloud.
Sell when the price breaks the support level (black trendline).
Cheers :)
A clear sell setup on the AUDUSD based on the Ichimoku Cloud Trend Trading Strategy. Please see the chart for clear explanation why i take this trade. Don't forget to follow me on twitter at @halimbashery for more on my Ichimoku Cloud Trend Trading Strategy.
