I have just a basic knowledge of Ichimoku so would welcome any comments from experienced users.
The weekly chart above shows me the following:
- Price is under the Kumo.
- Price came close to the Kumo and fell back. The Kumo is a bit thick so may not be easy to penetrate.
As the daily chart below shows, the price squeeze is unmistakable. I will be looking for a short entry signal on H4 time frame to go to the bottom of the range. Will a breakout occur and when will it happen if at all is a tough call for me at this point.
In any event there should be at least about 100 pips to ride this pair down.…Continue
If you don't mind trading the weekly chart, you may want to consider taking this short. The best entry was 100 pips earlier, but this still looks good with R/R 1 to the first target.
You may even get a better entry today as price may retrace up as it often does on Monday.…Continue