INSTRUMENT:- EURGBP
TIMEFRAME:- 1H
POSITION:- LONG
STRATEGY:- DOW THEORY + CANDLESTICK PATTERN
REASON:-
* Uptrend - trendline not broken, new HL being made
* Multiple Bearish Hammers indicate - Bulls in control, bears lost twice + Bullish Engulfing + Morning Star
ENTRY@ CMP (0.86278)
TAKE PROFIT@ 0.86416
STOP LOSS@ 0.86219
Risk to Reward Ratio:- 2:1
TIMEFRAME:- 1H
POSITION:- LONG
STRATEGY:- DOW THEORY + CANDLESTICK PATTERN
REASON:-
* Uptrend - trendline not broken, new HL being made
* Multiple Bearish Hammers indicate - Bulls in control, bears lost twice + Bullish Engulfing + Morning Star
ENTRY@ CMP (0.86278)
TAKE PROFIT@ 0.86416
STOP LOSS@ 0.86219
Risk to Reward Ratio:- 2:1
Trade closed: stop reached:
Stop loss touched and trade liquidated my trade by bears.
Next move, TP was done by the bulls.
Learning Outcome:-
Do not place stop loss to close to the previous HL.
Next move, TP was done by the bulls.
Learning Outcome:-
Do not place stop loss to close to the previous HL.