Short AUDUSD (watchlist)

6 oct. 2017

The daily TF displays 6 signals and all of them are in balance. For imbalance to occur, the chikou span must cut through senkou span B to confirm the downward move on the daily TF. The strong support at senkou span B on daily TF also corresponds with the weekly kijun sen. Rolling dragon is spotted on the H4 TF. Aggressive traders may look to scalp the market and take profit at 0.77266-0.77300. However, the risk to reward ratio is not attractive and we are approaching the weekend. Placing a small lot is advised if you really want to scalp the market. Ichimoku is typically used on the longer TF but it does not mean you can't use it for scalping. Conservative traders may want to keep this pair on their checklist and wait for the situation to clarify itself before taking this trade. If the downward bias is indeed confirmed, hundred of pips are there for the taking.

23 oct. 2017

Note

Chikou span did not cut througt span B. Trade setup is invalid.