Opened an position in USDCHF few days ago. Price action already cut below the ichimoku cloud. Tenkan-sen cut below kijun-sen and below the cloud, while kijun-sen was about to cut below the cloud. Chikou span, though cut below the kijun-sen, was not below the cloud during the time of the execution. Nevertheless, opened the position as chikou span below the cloud would be the last indicator of all.
The big drop yesterday was due to FED meeting. It either worked for or against the position. Luckily or not, it worked for the position.
Stop loss level remained above the cloud.
First resistance level will be the tenkan-sen level. Price action itself has not really increased momentum despite the fall yesterday looking at the gap between tenkan-sen and kijun-sen.
Will see how price action reveals itself.
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