Configuration: Two Ichimoku on the chart: H4 (full), and D (blue, only SSB/cloud + Kijun)*
The pair retraced and closed on the daily Kijun. We may either have a consolidation sequence with a supporting daily Kijun that will finally reject the price towards the daily cloud. Otherwise the daily Kijun breaks and price attempts to test the H4 Kijun. If this latest level breaks, the idea must be reassessed as conditions have changed.
Note that the daily cloud is thin during the next days, hence offering some areas of least resistance for the price. It could go through it. In the case of a breakout, the daily cloud could provide some significant support thanks to its thickness after 9th Feb.
* Not exactly the Ichimoku you would get with a real D chart, here we are extracting a daily Ichimoku using 6 candles H4, it has a higher resolution. It is sufficient IMO for a good analysis and does not play a major role.
The pair retraced and closed on the daily Kijun. We may either have a consolidation sequence with a supporting daily Kijun that will finally reject the price towards the daily cloud. Otherwise the daily Kijun breaks and price attempts to test the H4 Kijun. If this latest level breaks, the idea must be reassessed as conditions have changed.
Note that the daily cloud is thin during the next days, hence offering some areas of least resistance for the price. It could go through it. In the case of a breakout, the daily cloud could provide some significant support thanks to its thickness after 9th Feb.
* Not exactly the Ichimoku you would get with a real D chart, here we are extracting a daily Ichimoku using 6 candles H4, it has a higher resolution. It is sufficient IMO for a good analysis and does not play a major role.
