Welcome in today’s review of the most interesting trading setups prepared using Ichimoku technique:
AUD/USD:
Price left the cloud from the bottom, giving a sell signal. Everything is arranged correctly for short positions – only really narrow Kumo can be worrying. It will surely be a good sell signal? It is worth to check the currency pair on higher TF (look below).
AUD/USD D1:
The price is in the cloud, but rebounds from Kijun line which is now a support. It is not worth to take a risk in this case, although the H4 chart definitely suggest to open shorts.
GBP/JPY:
Currency pair, which is now in an uptrend goes through a violent downward correction. Currently, the price rebounds from the Kumo, which is directed upward. It could be used as a buy signal, but Chinkou Span is under the price and makes it impossible to open long positions. Few days of consolidation is highly possible, before the Chnikou Span (green line) will break the price.
NZD/JPY:
Cross gave a correct buz signal at night, which however would have ended with a stop loss. It remains in uptrend, although it seems to be a longer consolidation like in the case of GBP/JPY.
USD/CAD:
Looney gave a buy signal yesterday and clearly broke the Kumo, creating an upward pin bar (marked on the chart). Currently it is below the support and next 60 pips can be really hard to overcome.
