Monthly and Daily Direction is Bearish
Have all the requirements for a Cloud breakout:
1. Have A cloud breakout
2. Have a TK cross
3. The Chikou is below price
4. Have a Kumo twist
** increasing this trades probability is the thick cloud and flat Senkou B
** of concern is the up Trend Line
Entry = 1.7664 (8 pips below the breakout candle)
Stop = 1.7550 (10 pips +2, for spread,above the Senkou A)
Risk = 86 pips
PT = 1.7206 (10 pips above the 1.618 fib extension)
Have all the requirements for a Cloud breakout:
1. Have A cloud breakout
2. Have a TK cross
3. The Chikou is below price
4. Have a Kumo twist
** increasing this trades probability is the thick cloud and flat Senkou B
** of concern is the up Trend Line
Entry = 1.7664 (8 pips below the breakout candle)
Stop = 1.7550 (10 pips +2, for spread,above the Senkou A)
Risk = 86 pips
PT = 1.7206 (10 pips above the 1.618 fib extension)
Trade active
This trade has been triggered and is now Active :)Trade active
unfortunately the up trend line held and the market bounced back up and we are right at the Senkou A which is the last level of Resistance but a strong one, especially since the cloud was fairly thickTrade closed: stop reached
trade hit the Stop at 4:32 pm est, I am not a fan of late day trade intervention but will take the loss and move on to the next :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.