Price passed from the kumo and DMI confirms strong upward movement. We have buy opportunity. We can open long trades based on a trading signal from Ichimoku
indicator. But in such way our entry is near 0.100000 level. It's the strong resistance level
and price can bounce from it and drop to the uptrend line. RSI
is in the overbought zone and it's an additional confirmation for possible retracement. How we should trade in this market? It's better to wait when price breaks the resistance level
and after that returns to Tenkan or Kijun lines. When we get a reversal signal from one of these lines, we'll be able to open long trades above 0.100000 level. Stop orders will have to be below the local swing low. Profit targets for long trades will be at 0.130000, 0.150000 and 0.180000 resistance levels. Also if price drops to the kumo and 0.081000 support level
and we get a reversal signal confirmed by RSI
, we'll be able to buy with profit target at 0.100000 resistance level
. Don't forget that all trades must be opened using just a part of your deposit. Proper money management strategy is the key to stable and profitable trading in long term.