Ichimoku wave projection
Updated
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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