Price made a Lower Low, and retraced all the way to the 200EMA and provided an entry according to my rules.
Since the engulfing candle is bigger than 1ATR, I have placed a couple of limit orders at 50% of that candle @0.99365.
If I don't get filled withing the next two candles, I'll cancel the order.
As always, first position is 1R, no TP has been set on the second position, but I'm keeping an eye on that 0.98578 level for a potential reason to exit the trade.
Since the engulfing candle is bigger than 1ATR, I have placed a couple of limit orders at 50% of that candle @0.99365.
If I don't get filled withing the next two candles, I'll cancel the order.
As always, first position is 1R, no TP has been set on the second position, but I'm keeping an eye on that 0.98578 level for a potential reason to exit the trade.
Trade active:
My orders got filled.
Trade closed: stop reached:
Stopped out.