Copper Long - 24 April 2017

٢٤ أبريل ٢٠١٧

Background:
- Inside bar bullish reversal candle off horizontal support level @ 2.50 (round number) and 200MA exponential support (Chart only shows simple 200MA)
- Also, there is a double bullish divergence (black and red line)

Entry:
- Buy stop set at 20 pips above signal candle @ 2.8

SL:
- Set below the recent low @ 2.48

PT:
- Set at the current rectangular consolidation range high @ 2.732

٢٩ أبريل ٢٠١٧

تم فتح الصفقة

Updates - 29 April 2017:
- Trade triggered and seems like moving up.
- the reversal candle on 24 April does provide confidence to this set up

٧ مايو ٢٠١٧

تم فتح الصفقة

Updates - 7 May 2017:
- The last week trading session see price reversed and went south in a flash. Now it halts at the 200 exponential MA support.
- I am thinking that maybe i have set my PT too high.. Should be at previous swing high level?
- So for now, i will just hold on to the trade given the last line of defense (200 exponential MA support).

١٠ مايو ٢٠١٧

أغلقت الصفقة: تم الوصول لوقف الخسارة

Updates - 9 May 2017:
- Trade stopped out at 2.48
- Probably my mistake is my PT is too high, which it should at the easy achievable target (previous swing high) @ 2.68 region.