Looking at the EUR vs USD first on the daily chart you will notice where this fall started. The pair has attempted 3 times to break the flat bottom Kumo @ 1.31840 level and failed thus causing the price to break beneath the 100 SMA which is the blue line on the chart. With that fall the pair could have found support at the fractal support level but this level was violated and the pair continues to fall. When price is below the Kumo the bias of the market is bearish and there is no reason to expect anything but bearish until price can break the Kumo resistance. Since the market searches for support and resistance levels I have to maintain the bearish outlook and expect the market to seek out safety at the support level @ 1.27727. This is the target that I am expecting around June 1st. It's also possible price may retrace back to the fractal support level and attempt to break that level to gain momentum to the upside and an attempt at violating the Kumo resistance. If price retraces back to the fractal resistance and doesn't break that level then the outlook for 1.27727 looks even stronger.

Looking at the chart above featuring EUR vs CAD on the daily time frame using Ichimoku analysis we can see price sitting inside the Kumo. The Kumo acts as support and resistance levels and with price inside of the Kumo the flat bottom is a resistance level. Also on the chart we can see a blue line which represents the 100 SMA. Price has broken below the 100 SMA which also was a S&R level to be noted. If price breaks the support of the Kumo @ 1.31325 we can expect price to move to the next level of support which would be the target level @ 1.29813. Why that level? Because you can see the previous fractal level low at that mark and fractal levels are also S&R levels. The market will seek out S&R levels and 1.29813 is the next logical S&R level. Let's look at the pair on the 4 hour time frame!

I trade on the 4 hour time frame so looking at the charts above we can see the green line @ 1.31325 which represents the Kumo support level on the daily time frame. Once this level is broken on the 4 hour then I get into this trade and ride this to the target @ 1.29813

I still do use Ichimoku but also use other strategies. Thanks!

Thanks all! I am not quitting just waiting for my setups to develop. Good luck and God bless all!

Looking at this AUD vs JPY chart you will notice where I have placed the letters A, B, C & D in red. We will discuss what these letters mean as we talk about 1 to 1 ratio or AB = CD. You can see how the market declined from point A to point B, then retraced to point C before continuing the decline to our projected area at D. How did we get this projected area at D before the market even gets there? We are expecting the move from C to D to be as long as the previous move from A to B. In other words if A to B was 100 pips move down then we are expecting the move from C to D to be roughly around 100 pips. How can this help you in your trading? This gives you a target area to take profit and allows you to maximize your profit rather than getting out too early. Now we do know that nothing is 100 percent guaranteed with the forex market but this is s

Two trades on my radar are the AUD vs CHF and EUR vs AUD. Looking for AUD vs CHF to break and close above .9700 which is a support level for the pair With that break we could look for a short position. EUR vs AUD were looking to break and close above 1.24566 which is a resistance level for the pair and then we can look to go long. NZD vs CHF is also on the radar but not in the very near future as the other 2 pair.

@ fxprophet, the Kumo is known as the cloud in the Ichimoku system. It is used as support and resistance levels.

That's part of the Ichimoku indicator known as the Kumo Cloud which acts as a support and resistance level.

Good luck my friend! Thanks for ur support also.