Today only two currency pairs, but analyzed on the H4 and D1 chart. Market did not give us any other signals and you should remember that as a trader you never look for trading opportunities by force. Here we go:
Price took the Kumo over already at night giving a buy signal. But the stop loss was quite big and Chinkou Span was under the price and did not allow to open position. Today we saw breakout once again – it confirmed the bulls strength at currency pair. The SL can be set below the present minimum. Also a 1.0870 breakout could be useful.
The situation on the D1 chart may be little worrying. Price is under the cloud and there is a high risk of rebound from it. Therefore, it is worth to wait with opening longs on the AUD/NZD.
Recent Aussie increases resulted in a change of cloud’s color and everything is perfectly placed for further growth. The only question is Chinkou Span, which at the moment did not overtake the price. The market went down today and is approaching the support zone (Kijun line). This can already allow you to open longs provided, that the Chinkou Span situation will change. Even stronger signal may occur in the nearest future (3-5 candles). Kinuj lines up then with upper Kumo limit, creating extremely strong support.
On the daily chart the price is in the Kumo which give us neutral situation, but according to the Ichimoku principles, overtaking the one line will likely end in getting to the next line of Ichimoku. The price should reach the upper cloud limit (Senkou Span B). This may further strengthen the potential buy signal.
If you want to learn more about Ichimoku watch Marcin Wenus webinar. Lots useful information about Japanese trading technique – https://www.youtube.com/watch?v=QOLgKH15LGw.