Strong Bullish Kumo Twist: Long NAS100USD (M30)
Although the kumo breakout (supported by bullish TK cross and bullish Chikou cross) took place a few candles ago, the kumo was flat. Hence, the trade was ignored. However, even if the trade was taken 4 candlesticks ago, the stop loss would have been tight.
A long trade is now taken because:
1) Strong bullish kumo twist since it happened when price > kumo
2) Chikou > price
3) Tenkan/Kijun + SSA/SSB are parallel and both are pointing upward
4) Price > 200 EMA which points upward
5) Further confirmation by Stochastic and MACD gold cross
Trailing SL helps to limit the losses when the price moves in our favor.
A long trade is now taken because:
1) Strong bullish kumo twist since it happened when price > kumo
2) Chikou > price
3) Tenkan/Kijun + SSA/SSB are parallel and both are pointing upward
4) Price > 200 EMA which points upward
5) Further confirmation by Stochastic and MACD gold cross
Trailing SL helps to limit the losses when the price moves in our favor.
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Risk free trade. Trailing SL to let profits run.