NZD/USD - Ichimoku Short Sell Rejection Setup

2018年11月25日

This pair started to consolidate last week before ending it's bullish run for at least the short term. Right now we have completed a kumo twist, chikou span is below price and Tenken sen and Kijun sen have flattened out here indicating the loss of momentum we've seen. I am look for a small rise to the kumo and tenken to get a good rejection candle for a sell entry. If we can get that rejection candle I'll entry and I've drawn out two targets based off the daily chart to aim for. If we fail to get a good rejection or break lower, then this setup may become invalidated.