I have taken an intraday long position on AUDUSD using the 1H and 15m charts for confluence. Each chart shows:
1. Thick Kumo Angled up
2. Tenkan-Sen+Kijun-Sen angled up
3. Chikou above candles
We are also in the first leg of a Kumo breakout according to the 1H chart.
I entered on the labelled resistance breakout.
Ichimoku is somewhat bearish on the 4H chart, which is why I am managing this trade aggressively. I will keep my SL tight to manage risk.
1. Thick Kumo Angled up
2. Tenkan-Sen+Kijun-Sen angled up
3. Chikou above candles
We are also in the first leg of a Kumo breakout according to the 1H chart.
I entered on the labelled resistance breakout.
Ichimoku is somewhat bearish on the 4H chart, which is why I am managing this trade aggressively. I will keep my SL tight to manage risk.
Trade closed: stop reached:
Trade closed with +1.5 pips. I set the trade to breakeven as soon as it went my way. It is reversing or ranging now, so this is why we set tight stops!