USD/JPY - Ichimoku Long Trade Setup

26 août 2018Looking at the larger time frame for this one, we are in the cloud and should some moderate bearish signs. That being said we have this bullish breakout and the 4 hour and I'm looking for support to hold for a chance to get long. It's unclear to me yet that if we do get the bullish move up whether it would be holding here at tenekn sen (I have doubts on this since we have a flat kijun sen) or it would mean a drop down to the cloud area for a bounce back up (If it holds at all). So, I'm allowing for both variations to take place if I'm going to look for that bullish entry. If we hold here at tenken sen I'll look for a breakout of the lien I drew above previous structure highs. If we fall down, then I'll look for an entry of a rejection or subsequent breakout back out of the cloud. If neither scenarios play out, this this setup will be considered invalidated.