Ichimoku 'Wave' forming a nice trade entry into a long position. Due to the sharpness of the wave I have added all wave projected calculations as some Ichimoku traders may see this as a 'V' wave set-up all the way to a 'E' wave.
How I trade this set-up
Aggressive - Enter now and place your stop on the 'C' leg (110.585).
Conservative - Await for price to break the 'B' leg (111.050) and set your stop on the 'C' Leg (110.585). If price drops below 'C' leg trade becomes invalid.
When price hits a projected wave target look at price action and see how price is re-acting to that level. The five lines of Ichimoku will help.
Any conversation around this Ichimoku set-up is greatly welcomed. Please note there is no time frame as to when price hit's these levels, my last trade, which I kept on the chart (Bullish A,B,C wave) took three days to hit my target.
How I trade this set-up
Aggressive - Enter now and place your stop on the 'C' leg (110.585).
Conservative - Await for price to break the 'B' leg (111.050) and set your stop on the 'C' Leg (110.585). If price drops below 'C' leg trade becomes invalid.
When price hits a projected wave target look at price action and see how price is re-acting to that level. The five lines of Ichimoku will help.
Any conversation around this Ichimoku set-up is greatly welcomed. Please note there is no time frame as to when price hit's these levels, my last trade, which I kept on the chart (Bullish A,B,C wave) took three days to hit my target.
For trade to become valid, price needs to break 'B' wave. Of note this trade set-up, it would be wise to trade conservative.