I agree, there is a strong support at 1.58. I think I'll try to enter this trade if price should break this support.
About the use of CS in a breakout, Manesh Patel in his book "Trading with Ichimoku Clouds" says CS should be above both price and Kumo (he says in "open space") because price action in the past represents support-resistance in the future.
In case CS after a breakout enters into the price again, I would exit the trade for the same reason.
Happy trading.
About the use of CS in a breakout, Manesh Patel in his book "Trading with Ichimoku Clouds" says CS should be above both price and Kumo (he says in "open space") because price action in the past represents support-resistance in the future.
In case CS after a breakout enters into the price again, I would exit the trade for the same reason.
Happy trading.
"Markets are never wrong; opinions are." - Jesse Livermore