Let’s take a look at AUDUSD. The previous buy signal resulting from the rebound from Kijun did not work, as you can see, the price below this line went down and the support from the daily chart was breached briefly. The help was given by the upward-facing Kumo growth cloud. Only its appearance led to the creation of another growth signal.
A breakout from the growth cloud is a sufficient signal to open long positions. However, we can see that the current four-hour candle is bearish and has led back to Senkou Span A. The Kijun line is also crossing here. For this reason, the best solution is to wait for the growth rebound and only then enter the longs.
Stop Loss can be set below the support and last low, and Take Profit around 0.7340. Without any problem, we will achieve a profit-risk ratio of 3:1. To open a position I recommend the Naga Markets broker, who has over 750 trading instruments in his offer.
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