Time for GBP Longs? - Ichimoku GBP/USD Long Trade Setup

9 jun 2019

After moving up above the kumo after a long trend, it's time to see if this trend can be tested and hold. I am looking for a test of tenken sen to hold to look to enter a long position. If we drop down and form a good support candle or get a positive interaction price structure wise, then I'll look to enter my long position. There are a couple alternative ways to enter this trade as well. We could enter a breakout above our recent price structure highs, or if we break through tenken sen we can then look for support at kijun sen to enter the long. So there's 3 different ways for this one to play out that would still lead me to a long entry. If those fail or we break down below price structure support and kijun sen, then this setup will become invalidated.