18-Feb-2014, GMT 10:06

Let’s look at the Ichimoku chart – there may be a cear buy signal. Price broke Kumo at night and has now re-tested it. This is a clear signal that up-trend is in game.

 AUD/NZD is in a down trend. Last month was ruled by bulls.
AUD/NZD 4-hour chart.

The long bottom shadow of the last candle is also important – it might even be a pin bar candle – a buy signal from the Price Action strategy. This will strengthen the chance for a long position. The Chinkou Span should also be over the price – so a clear buy.

Traders can choose 2 stop losses. Risky – below the last candle and a safe one below yesterday’s minimum and Kijun line.
On D1 price is in Kumo – so it’s neutral.

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