This was a new position established few day ago on AUDUSD.
Not the best setup of all, but good enough to call for a long entry.
Price action was trending upwards and hitting kumo cloud lo, it went into the kumo cloud region, and trade near the cloud lo region.
Tenkan-sen began to cross over the Jikin-sen and diverged out showing strength of the upwards momentum. Price itself was trending upwards after hovering around the cloud lo.
Chikou Span also crossed above the jikun-sen, giving strong signal of the reversal.
Price action also began to pierce through the cloud hi.
Should the chikou-span crossed above the cloud hi would be a perfect set up then. (Chikou span eventually traded above cloud hi)
Entry was made when the price went above the cloud hi.
Will see how the trade turns out from the price action.
AUDUSD's strategy is quite interesting but we have to also careful about fact that Long term planning with some good capital is also very valuable in Forex.
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