Price has retracted back (110.623) to last area of defense (kumo). Possible trade set-up close to becoming invalid.
For trade to become valid, price needs to break 'B' wave. Of note this trade set-up, it would be wise to trade conservative.
Conservative - Await for price to break the 'B' leg (111.050) and set your stop on the 'C' Leg (110.585). If price drops below 'C' leg trade becomes invalid. I usually like to set my target to a Ichimoku 'N' wave, as I've found it's the most common on the 1hr chart.
Any input is welcomed. Good luck ;)
For trade to become valid, price needs to break 'B' wave. Of note this trade set-up, it would be wise to trade conservative.
Conservative - Await for price to break the 'B' leg (111.050) and set your stop on the 'C' Leg (110.585). If price drops below 'C' leg trade becomes invalid. I usually like to set my target to a Ichimoku 'N' wave, as I've found it's the most common on the 1hr chart.
Any input is welcomed. Good luck ;)
Note
The last line of defense ;) Will it hold? If not we'll see if we have a continuation of the 4Hr time frame 'Bearish trend' and another Ichimoku 'wave' trade set-up may present it self to ride the trend :)
Order cancelled
It appears the Bears have one the battle in the cloud and we now must decide, shall we join them or regroup and fight back. Time will tell...
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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.