AUDUSD Retracing to Kijun-sen on 4H chart — What to do next

17 Jun 2022

#AUDUSD is retracing back towards the Kijun-sen on the 4H chart. The Kijun-sen on 4H is also aligned with the Kumo on the 1H chart. Price could rebound off 0.69595. If it breaks through and closes below this price, the downtrend could continue. #ichimoku #forex #trading
1H chart for comparison:


Ideas:

• If price closes below 0.69595 then look for a short opportunity using the 1H and 30m charts
  
• If price rebounds off 0.69595 or reverses shortly, then stay away until a clear trend emerges on higher timeframes (e.g. 4H)