4H ichimoku GBPJPY long
Updated
ichimoku lines are bullish on 4 hour.
ichimoku stoploss and lagging line are around same level creating strong support around 145.60
Also see bullish diversion in rsi
If you look at it on Daily the ichimoku is bearish though.. so I can be wrong of course. Daily is with macd in positive and RSI above 50 on the other hand. If price stays above 146.25 we can know that the 4hour view is correct and we go long
ichimoku stoploss and lagging line are around same level creating strong support around 145.60
Also see bullish diversion in rsi
If you look at it on Daily the ichimoku is bearish though.. so I can be wrong of course. Daily is with macd in positive and RSI above 50 on the other hand. If price stays above 146.25 we can know that the 4hour view is correct and we go long
Trade active
Price is now trading around 146.25 / 146.30 wich would be an entry point if we traded a SHORT on ichimoku daily.I moved SL to breakeven to be sure. As I wasnt extremely sure about this trade since ichimoku was still bearish when we entered this trade.
We'll see if price will stay above 146.30, if not, I might trade the short on daily if I can get a nice entry point.
But for now I will leave this long running
Trade closed manually
Since I changed SL to breakeven, the trade got stopped out april 5th. 0 pips profit
We see that the target got hit later, but the original SL would have been a little bit too tight.
Overall, moving the SL to breakeven was the right move looking back on this trade.
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