Been busy with work.... manage to rush out this trade and journaled it...
Background:
- Bullish reversal candle formed off resistance turned support area and 50MA support @ 51.4
- Price have been in consolidation between 51 and 55 after the up trend
- So this is a consolidation trade, buying at consolidation low and selling at consolidation high
Entry:
- Buy stop set 20 Pips above candle high @ 52.75
SL:
- set at 50% of the candle @ 51.9 (slightly below 51 round number)
PT:
- set before 55.0 round number at 54.8
Note:
- Might not be a "A" setup as there is only one bullish signal candle
Background:
- Bullish reversal candle formed off resistance turned support area and 50MA support @ 51.4
- Price have been in consolidation between 51 and 55 after the up trend
- So this is a consolidation trade, buying at consolidation low and selling at consolidation high
Entry:
- Buy stop set 20 Pips above candle high @ 52.75
SL:
- set at 50% of the candle @ 51.9 (slightly below 51 round number)
PT:
- set before 55.0 round number at 54.8
Note:
- Might not be a "A" setup as there is only one bullish signal candle
تم فتح الصفقة:
Updates - 10 Feb 2017:
- Set up triggered with yesterday bullish candle
- It seems like the support mentioned is working.
- Will hold on to this trade to pay attention to any bearish action upon reaching the consolidation resistance
- Set up triggered with yesterday bullish candle
- It seems like the support mentioned is working.
- Will hold on to this trade to pay attention to any bearish action upon reaching the consolidation resistance
تم فتح الصفقة:
Updates - 11 Feb 2017:
- Yesterday price closed a bullish candle. It is now reaching a significant level of 54 which we see multiple price rejection since early dec 2016.
- I do think that i will need to adjust my PT from 54.8 to 54 to remove unnecessary risk
- Yesterday price closed a bullish candle. It is now reaching a significant level of 54 which we see multiple price rejection since early dec 2016.
- I do think that i will need to adjust my PT from 54.8 to 54 to remove unnecessary risk
تم فتح الصفقة:
Updates - 18 Feb 2017:
- The week started bearishly and managed to reversed upwards near the top part of the rectangular consolidation.
- Will hold on to this trade, aiming PT of 54.
- The week started bearishly and managed to reversed upwards near the top part of the rectangular consolidation.
- Will hold on to this trade, aiming PT of 54.