GBPCAD: Ichimoku and time at mode
GBPCAD looks to be headed south, with a potential weekly time at mode downtrend in the making.
The price action supports this thesis, and we apply the ichimoku cloud indicator, the chart comes alive.
Ichimoku paints a very bearish picture, confirming my bearish bias. There is clear rejection after crossing the cloud down
and retesting it. After this, price shoots down, expanding range and triggering a daily time at mode downtrend.
As a bonus, the last two daily bars close below the Kijun sen, after a bearish tenkan/kijun sen cross occurred.
I have already entered, using a discretionary approach, but will add once I get confirmation that the time at mode weekly trend is valid. The target is 1.90509, to be reached by or before January 8th, 2016.
For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently hosting a skype group for Forex traders, where I share trade setups and also provide traders with training, 2 private webinars per week. I'm also giving tutoring via skype calls, on a one on one basis for a different rate. Good luck if taking this trade with me.
Cheers,
Ivan Labrie
Time at Mode FX
The price action supports this thesis, and we apply the ichimoku cloud indicator, the chart comes alive.
Ichimoku paints a very bearish picture, confirming my bearish bias. There is clear rejection after crossing the cloud down
and retesting it. After this, price shoots down, expanding range and triggering a daily time at mode downtrend.
As a bonus, the last two daily bars close below the Kijun sen, after a bearish tenkan/kijun sen cross occurred.
I have already entered, using a discretionary approach, but will add once I get confirmation that the time at mode weekly trend is valid. The target is 1.90509, to be reached by or before January 8th, 2016.
For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently hosting a skype group for Forex traders, where I share trade setups and also provide traders with training, 2 private webinars per week. I'm also giving tutoring via skype calls, on a one on one basis for a different rate. Good luck if taking this trade with me.
Cheers,
Ivan Labrie
Time at Mode FX
Commentaire:
Monitoring price action, we need to hit the arrow target today before the close to stay in.
Ordre annulé
Transaction en cours:
Time to short again.
