Kumo Breakout: Long AUDCHF (Daily)
Bullish Kumo Breakout:
1) Price closed above kumo.
2) Price > Kijun
3) Bullish kumo twist
4) Chikou span > price
Entry: Buy at the close of the breakout candle.
Stop loss: Below the Kijun
Take profit: Candle closes below Kijun.
PS: Kumo Breakout took place 4 days ago. However I was waiting for the bullish Tenkan-Kijun cross to happen, as an additional confirmation. Nevertheless, I am expecting price to range for a few more days before it takes off. This is because Chikou span is still moving within the candles. If Chikou span is able to break out of the kumo, then bullish momentum is confirmed.
1) Price closed above kumo.
2) Price > Kijun
3) Bullish kumo twist
4) Chikou span > price
Entry: Buy at the close of the breakout candle.
Stop loss: Below the Kijun
Take profit: Candle closes below Kijun.
PS: Kumo Breakout took place 4 days ago. However I was waiting for the bullish Tenkan-Kijun cross to happen, as an additional confirmation. Nevertheless, I am expecting price to range for a few more days before it takes off. This is because Chikou span is still moving within the candles. If Chikou span is able to break out of the kumo, then bullish momentum is confirmed.
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.