Pound to weaken more? - Ichimoku EUR/GBP setup

Feb 3, 2019

If you're in the mentor membership this setup will look familiar. We've already capitalized on the move down as you can see from the completed trade on the left. No we'll be looking to capitalize on the move back up. We got a nice little rebound last week and are close to a kumo breakout. I am looking for support to hold at tenken sen to get in a long entry. If we see a good support candle or nice bounce off tenken sen and out of the kumo that will be enough of a final confirmation for me to enter. If we fail to hold support at tenken sen, we may get a better entry if kijun sen holds support and with a similar setup, we get a kumo breakout out of it. If we fail to hold support or get our kumo breakout, this setup will likely be invalidated.