GBPUSD TK Cross and Kumo Breakout - Short
Updated
GU is setting up for a potentially large move down. To confirm the entry, chenkou span must must clear the kumo cloud 26 period to the left. SL should be placed just above the bottom of the cloud and the 1st profit target is at the next closest support level.
NOTE: this trade may need to be placed when markets reopen next week.
NOTE: this trade may need to be placed when markets reopen next week.
Trade active
Note
Trading view shows the stop was hit but for one reason or another the trade is still open with my broker. So, trade is still valid and active.,Note
Movement has been limited and if Chenkou span begins to enter the recent price range I may close the position early.Note
Price is still stagnant. To protect capital, I'm moving my SL just beyond the current flat line created by Kinjun sen that coincides with the psychological resistance level near 1.4500Trade closed manually
Price is not moving convincingly and Chenkou span has entered into the previous price range. This indicates a potential range condition and makes the next move uncertain.
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