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Ichimokuforex

Pound to weaken more? - Ichimoku EUR/GBP setupIf you're in the mentor membership this setup will look familiar. We've already capitalized on the move down as you can see from the completed trade on the left. No we'll be looking to capitalize on the move back up. We got a nice little rebound last week and are close to a kumo breakout. I am looking for support to hold at tenken sen to get in a long entry. If we see a good support candle or nice bounce off tenken sen and out of the kumo that will be enough of a final confirmation for me to enter. If we fail to hold support at tenken sen, we may get a better entry if kijun sen holds support and with a similar setup, we get a kumo breakout out of it. If we fail to hold support or get our kumo breakout, this setup will likely be invalidated.
Long
by The808Trader
Kiwi dominating the EU? Ichimoku EUR/NZD setupWe've been on a nice bearish breakout and we've broken previous price structure lows so I am expecting some more bearish movement with this pair. I am setting an entry as a break below our current candle, but as an alternative we can also look for a rise and rejection at tenken sen since we've been holding it so well on this bearish trend. I am targeting the flat kumo on the left side of the screen.  We may even push further than that, but its a good intermediate target to aim for. If we fail to form a lower low or find resistance at tenken sen then this setup may become invalidated.
Short
by The808Trader
The Kiwi Ripe? Ichimoku NZD/USD Long Trade SetupWith the fundamentals at play last week we saw some big movements across most pairs including the kiwi here. Due to how quick it climbed I'm expecting a nice drop to test our previous support level which is where I'm anticipating tenken sen being as well. If we can get that drawback and support hold with a good candle, I'll look to enter there to climb back to our structure highs. As an alternative, if we consolidate and move a little sideways here I will trade a break out of this current resistance level I've noted with a blue horizontal line. If we rise above that and either close or look strong, I'll enter a long that way. If either of those scenarios fail to take place, I'll consider this setup invalidated.
Long
by The808Trader
Pound the Swiss? Ichimoku GBP/CHF trade setupAnother GBP/CHF trade setup on my list this weekend! We've continued our bullish run with this pair and I am looking for trade it up to our major resistance level where we were rejected previously several weeks ago. Since we are so close to that resistance level I'm wanting to enter on a drawback to help limit risk. I think a breakout trade here just wouldn't quite give me the risk to reward entry I would want for the risk exposure I'm looking for with this pair. So I would really like to see a drop to tenken sen for price to hold with a good candle which is when an entry would be confirmed for me and I would enter. If we fail to get the drawback or hold support upon a drawback, this setup may become invalidated.
Long
by The808Trader
GBP/CHF - time for an early reversal?With this pair we've seen a big move down over all the fundamentals at play with EU and Brexit situations happening in Europe. We are still holding here at tenken sen so I am looking for a technical indication for a chance to get into this bearish trend. There are a couple ways I could approach an entry here but I am going to look to enter on a break below our previous candle low. I've laid out a longer term swing trade target in the image, but I will also take partial profit to reduce my risk if we break below the recent price structure low at .8768. I do see kijun sen flattening out a bit which is typically a sign momentum is slowing, but that my just be the case since we had a really big move with the news. Still, something to watch as a move back up kijun sen will invalidate this trade setup.
Short
by The808Trader