Since weekend is approaching, our analysis uses daily TF as the primary chart and the 4H TF as the secondary chart. This helps to minimize the possibility of weekend gap-up/gap-down. Price has reached a strong support on the 4H and daily TF. On the daily TF, price is very far away from the kijun. Kijun serves as a magnet and will pull the price towards itself. Future bias is bullish on daily and weekly TF.
Commento:
Check out the relatively short bearish bar of 17 July 2017 on the daily TF. Price suddenly shot up at that demand zone. The demand zone corresponds well with our support level. Strong demand zone = strong buy.
Trade chiuso manualmente:
The price encountered resistance from the kumo. Trailing SL was used in this trade to reap maximum profit. At the very least, the trade should have hit breakeven.