Background:
- Double bearish reversal candle/shooting star formed near the 50MA resistance
- Bearish price action also happened after testing of the 1.56 resistance (which originated from 2015 low formed in early dec 0.98% 2015)
Entry:
- Sell stop set at 20 Pips below the low of yesterday shooting star @ 1.533
SL:
- Set at 1.62 (slightly above round number 1.6)
PT:
- Previous swing low @ 1.038
Note:
- At this point of writing, the set up has been triggered.
- Double bearish reversal candle/shooting star formed near the 50MA resistance
- Bearish price action also happened after testing of the 1.56 resistance (which originated from 2015 low formed in early dec 0.98% 2015)
Entry:
- Sell stop set at 20 Pips below the low of yesterday shooting star @ 1.533
SL:
- Set at 1.62 (slightly above round number 1.6)
PT:
- Previous swing low @ 1.038
Note:
- At this point of writing, the set up has been triggered.
Trade closed: stop reached:
Updates - 12 Jan 2017:
- Aiks stopped out
- Price started off bearishly but eventually reversed and formed bullish reversal candle
- I think most likely is due to my tight loss (maybe set above the entry candle high, I would still in play)
- Definitely a set up to be revisit again!!
- Aiks stopped out
- Price started off bearishly but eventually reversed and formed bullish reversal candle
- I think most likely is due to my tight loss (maybe set above the entry candle high, I would still in play)
- Definitely a set up to be revisit again!!