Continue update from previous post.
Price action had been choppy for the past periods since the positions established.
Tenkan-sen had crossed over kijun-sen thrice, and chikou span had crossed over kijun-sen twice. These itself spelled the volatility of the price action.
Technical (Ichimoku)
Tenkan-sen currently is above the kijun-sen. However, they are converging, and tenkan-sen cutting below the kijun-sen is likely to happen, though not definite. The comfort is chikou span is below kijun-sen currently and it has just cut below the kijun-sen.
Having said that, all lines are below the kumo top, and price action has retraced lower when it just breached the kumo top.
Strategy (Ichimoku)
The price action retracing from the kumo top indicated sellers are waiting to sell, but probably taking a very conservative view with minimal risk.
Short position takers could establish small short position with stop a distant away from the kumo cloud.
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