As per previous post mentioned, there was a pull back in price action to new the cloud hi. Price action actually went into the kumo cloud, and emerged out from the kumo cloud again on the upside.
Decided to add another long position as tenkan sen cut above the jikun sen. The forward cloud is thin. Will need to watch out price action activity around that period.
Technical (Ichimoku)
Tenkan-sen cut about jikun-sen while in the kumo cloud. Price action is clearly above the cloud. Chikou span has cut the tenkan sen and jikun sen, and looking to cut above 26 period price high.
The chikou span provides a clear picture between present price action and past price action activities. What is has demonstrated at one glance is the current price activities compared to 26 periods price activities from the current period.
The question now is will there be more shorts joining the EURUSD or there will be more shorts exiting the EURUSD.
From the chikou span, one could observe within 26 periods, price action fell sharply before making a U turn when it went into the kumo cloud.
Existing shorts within these 26 periods will have to make a decision, to stay or to exit or to add?
New positions taker will have to decide to go with long or short?
Strategy (Ichimoku)
For long, current price level is strategic to go long. For conservative, may want to wait till when price action went above 13130.
For short, aggressive taker may choose to go short and place stop loss above 13130. Else, it may be better to wait till price action goes below the cloud.
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