Reasons to go long:
- Bullish pinbar candle on Daily
- Bounce off 7970 support which was previous resistance
- Main trend on daily chart is up
- The close of the daily bar is around 50% retrace from the 16th May low
Order to open: 8021 (50% retrace of daily candle)
STOP: 7962
LIMIT: 8198
RISK/REWARD 3/1
Broke up very nicely today after triggering near the 50% retrace mark
ReplyDeleteStop moved to b/e so this is now a free trade
Today we had a steep drop 8043 before retracing most of the losses to develop a nice looking bullish pinbar. Todays pinbar is also within the highs and lows of the previous day making this a inside bar adding more weight to gains to the upside. Still in the trade and stop at b/e
ReplyDeleteThis trade came within 4 pips of hitting its limit yesterday before falling away on fears of the Greece situation. However, its looks like a deal on Greece looks to have been reached and we rallied back up with a nice bounce off 8ma and 8090 support
ReplyDeleteGot stopped out at b/e. Bit disappointing considering i was 4 pips from my target but the Greece news stepped in and made the US dollar stronger. I can take positives out of this that im reading these price action setups more correctly
ReplyDeleteTalk about being unlucky with this one, blew through my limit today!!! Moving stops is a tricky game to play. If id left it where it was, id have made profit but i was over 100pips up so i felt i had to move to b/e. Putting this down to plain bad luck
ReplyDelete