Weekly TF shows a C clamp. Daily TF shows 3 signals and this implies imbalance. If the kumo twist does take place, we will have 4 signals and a further confirmation of downward bias. Use Heiken Ashi to trail SL. TP equals weekly Kijun sen. It is important to realise that we can't predict how much profit we will make but we can control our risk. Current SL is set at the daily Kijun sen.
Note
Typo error: Initial SL is set a few pips above daily tenkan sen.Note
Tenkan has crossed Senkou span A. 4 signals are generated and the pair is currently in balance. The formation of the kumo twist will validate the bearish bias.Note
Bearish kumo twist has appeared. This signal validates our bias. Take profit level is at the weekly Kijun. However, price may encounter resistance on the daily TF by Senkou span B before reaching our intended profit target.Trade active
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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.