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.
On H4 chart we can see that AUDNZD broke important resistance from daily chart at 1.1020. Kumo cloud is still bullish and Tenkan crossed Kijun. It is a great opportunity to open long position with SL below last low.
Price on H4 chart is struggling with resistance at 1.5017. Currently we should wait for two things if we want to open long position. Firstly, EURCAD needs to break permanently mentioned resistance. Secondly, we should wait for the Kumo cloud to change its colour. Right now we have to wait.
Really interesting situation over here. Price is below local support which should now act as a resistance. Tenkan crossed Kijun and created bearish signal. You should choose whether you prefer to open position on AUDNZD or NZDUSD to avoid increased risk connected with correlation. I will open this position with FXTM broker, which offers low execution times and deposit safety.