The Ichimoku indicator is showing all short signals right now. The Chikou Span (yellow) is below the price line, the Tenkan Sen (red) has crossed the Kijun Sen (blue) downward and has moved below the price line as well. The Senkou Span A (cloud green line) has crossed the Senkou Span B (cloud red line) creating the red Kumo (cloud). Finally, the price line has crossed below, and closed, below the Kumo. All of these together signal a strong potential trend reversal along the downward parallel channel.
Shown is my current trade setup with a risk/reward ratio of 2.11:1. I do not have 3 profit takes as I will reevaluate the trade every couple of days, and if there is a change I will adjust accordingly.
As always, comments and ideas are welcome!
This information is not trading advice, only my personal trades/opinions on potential market movements, and is for educational purposes only.
NZDUSD
Shown is my current trade setup with a risk/reward ratio of 2.11:1. I do not have 3 profit takes as I will reevaluate the trade every couple of days, and if there is a change I will adjust accordingly.
As always, comments and ideas are welcome!
This information is not trading advice, only my personal trades/opinions on potential market movements, and is for educational purposes only.
NZDUSD