As mentioned in previous post, added new position in 1.2250 to 1.2350 range. Specifically at 1.2250 and 1.2300.
By price action itself, it might be heading to test the level of 1.2160.
Looking at the thick ichmoku cloud formed up ahead, there is strong resistance at 1.2250 level.
Looking forward:
Technical (Ichimoku):
Tenkan-sen and Kijun-sen are converging, a cross over of tenkan-sen above kijun-sen is the first signal of going long should both lines below the cloud.
Strategy (Ichimoku) ideas:
In general, price below the cloud indicate a bearish view. Short position could be added with limit sell at 1.2250.
If adding long position, could consider taking up small position when tenkan-sen cut above jikun-sen.
If price action goes above1.2325, could look to add more long positions.
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