Ichimoku long setup: AUDJPY
H4 shows an inside bar formation. All H4 Ichimoku signs are bullish, though price is a little far from the kijun sen on the daily time frame. Therefore, we may have a ranging market for quite a while before kijun sen catches up with the price. Price is struggling to go past the current level due to the existence of kumo shadow. Once overcome, we are expecting the price to go bullish as confirmed by %R and chikou span being above price.
Note
Formation of bearish fakey.Trade closed: target reached
Hit TP1.Trade closed: target reached
Hit TP2 and TP3.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.