It has been quite some time. Previous position did not really work out well. Went for a short in price, but price decided to turn around. There were times when profit was there, it was not closed out, and subsequently become a loss.
Was away for holiday end January till Mid February, the normal Chinese New Year Holidays celebration at this part of the world.
Nevertheless, coming back to today's trade, long position established.
While price action is below the tenkan-sen and kijun-sen, it was just at the kumo cloud high. The thick kumo cloud probably provide the support required from the chart itself, and the up trending kumo indicates the "mood" ahead.
A stop loss is placed below the kumo lo. Aggressive traders may want to wait till chikou span cut below the cloud though.
Let's wait and see what price will unfold itself in the days ahead.
