Ichimoku Setup - Potential Tenkan-Kijun Cross for AU | Sept. 11th

tenkan-kijun cross ichimoku wave theory 2ndskiesforex.com sept 11th

After closing below the Kijun back in late August, the sell-off after the daily kijun break stopped midway into the kumo.  It has since then become extremely impulsive in its bullish price action, with 4 days taking out the last 9 days of selling pressure.  This is communicating the bulls have retaken control of the pair and will likely attempt to take out the 1.0600 highs.

From an ichimoku perspective, generally when a dominant trend pulls back but only gets partially into the kumo, it usually leads to another up leg and likely tenkan-kijun cross signal (in this case, likely medium). These usually minimally hit the prior SH (swing high) which is around 1.0600.

The chikou has already crossed …

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