AUDUSD gets a clear verdict from Ichimoku … the week of 05 Aug,
Updated
First of all, if you expect that every trade will be a winner, please move on. Don’t even bother to read this analysis.
On the daily time frame, Ichimoku Kinko Hyo screams … bearish!! Here is why:
Future cloud – bearish
Price broke out of the cloud to the down side - bearish
Tenkan Sen cross below Kijun Sen – bearish
Tenkan sen pointing to the down side - bearish
Chikou span is below price and the cloud – bearish
Expect some resistance/stalling at the 0.6450 area.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
On the daily time frame, Ichimoku Kinko Hyo screams … bearish!! Here is why:
Future cloud – bearish
Price broke out of the cloud to the down side - bearish
Tenkan Sen cross below Kijun Sen – bearish
Tenkan sen pointing to the down side - bearish
Chikou span is below price and the cloud – bearish
Expect some resistance/stalling at the 0.6450 area.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Comment
Sorry something was wrong with this chart - the red candles are bullish while the white ones are bearish.Comment
Here is the correct chartOrder cancelled
Global sell off, stocks, US$, Commodities etc.
This trade is cancelled.
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