With the USD strength last week we saw a kumo breakout and a rise up above previous resistance. I didn't get in the original breakout but I'm looking for a drawback to the previous resistance area I drew a line at for entry. If we get that drawback and support holds I will look to get into a long position. I'm targeting a flat area on a previous kumo cloud as my target. If we fail to get a drawback or hold support on that drawback this setup may become invalidated.
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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.