The Monthly and Daily direction is Bearish.
The market has retraced, and been rejected at the Daily Senkou A (bottom of the cloud) at 1.5841
I anticipate the market will drop back to the cloud, either the Senkou A (top) or the Senkou B (bottom)
and then rally back to retest the Senkou A at 1.5841
2 Potential entries;
First, the aggressive entry would be to place sell limit orders at the Senkou A
with a 50 pip stop
Second, wait for the confirmation of the Cloud breakout trade
The market has retraced, and been rejected at the Daily Senkou A (bottom of the cloud) at 1.5841
I anticipate the market will drop back to the cloud, either the Senkou A (top) or the Senkou B (bottom)
and then rally back to retest the Senkou A at 1.5841
2 Potential entries;
First, the aggressive entry would be to place sell limit orders at the Senkou A
with a 50 pip stop
Second, wait for the confirmation of the Cloud breakout trade
Trade active
This trade is now active with an entry at 1.5841Trade closed: stop reached
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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.