Ichimoku/Currency: EURCHF Target 1 reached, Entry 2 setup

The first profit target (P1) on the chart was reached. We exited out with a 42 pip profit. As mentioned earlier, we are going to exit out at P1 because we do not want the headache of going through the Kumo cloud which usually causing consolidation.
The second entry is not set with the Kijun Sen as the Stop (1.6545). Once the second trade has triggered, we will adjust the stop to the new Kijun Sen value. Also, the support values are shown in blue. Once the trade has triggered, we will analyze the charts to determine where to take our profits. We have to be careful because the last support line is very close to a huge Kumo cloud on the daily timeframe. A situation where we do not want to be in a trade through a Kumo cloud.
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About the Author Manesh Patel