Ichimoku is an investment strategy of trend following, it works great on H4, D1 and higher time frames. In this series of articles I present my setups and observations using Ichimoku, supports and resistances and Price Action patterns. You can also check previous Ichimoku overview.
Price on the H4 chart broke out of bearish Kumo cloud. What’s more it is below daily support. This level is quite respected, although lately there was a short-time break. If there will be any sell signal in this place, I will think about opening short position.
Lately there was a break of resistance on the daily chart in the area of 1.5575. Yesterday in the evening there was a successful retest of that level and confirmation as a new support. If in the area of Kijun or mentioned support there will be any signa to open position, I will enter longs. To open this position I recommend STO broker, which offers low spreads on the cross pairs.