Copper Long - 30 March 2017 (posted on 2 April 2017)
Background:
- 2nd bullish reversal candle signal after 27 March at the trendline support
- The 27 March hammer off trendline support also act as an fake break downwards with the obvious bullish push
Entry:
- Enter @ market of 2.669 as only noticed this set up after signal presented to me on 27 March, probably if entered earlier, i would have better margin on this.
SL:
- Set below the 28 March candle low
- SL not set based on the signal candle because this is a "W" (double bullish signal over a certain of period that formed a "W" formation)
- Might stretch my SL to the max of the signal candle fib level depending on the future price action
PT:
- Set at previous swing high @ 2.79
- Might quit earlier at the highlighted area along the trendline resistance area.
- 2nd bullish reversal candle signal after 27 March at the trendline support
- The 27 March hammer off trendline support also act as an fake break downwards with the obvious bullish push
Entry:
- Enter @ market of 2.669 as only noticed this set up after signal presented to me on 27 March, probably if entered earlier, i would have better margin on this.
SL:
- Set below the 28 March candle low
- SL not set based on the signal candle because this is a "W" (double bullish signal over a certain of period that formed a "W" formation)
- Might stretch my SL to the max of the signal candle fib level depending on the future price action
PT:
- Set at previous swing high @ 2.79
- Might quit earlier at the highlighted area along the trendline resistance area.
Trade active:
Update - 8 April 2017:
- Moved SL to 2.59 to have more wiggle room (10pips below the low of 28 March low)
- The price has been moving within my SL zone, thanks to my SL amendments, i am still in the trade
- The last session of the week closed a fairly favorable hammer pointing upwards. Hopefully this will carry the Copper upwards.
- Moved SL to 2.59 to have more wiggle room (10pips below the low of 28 March low)
- The price has been moving within my SL zone, thanks to my SL amendments, i am still in the trade
- The last session of the week closed a fairly favorable hammer pointing upwards. Hopefully this will carry the Copper upwards.
Trade closed: stop reached:
Update - 11 April 2017:
- Aiks... trade stopped out with the bearish breakout on the 12 April.
- Probably the 2nd failure to breakout of the 50MA resistance on 30 March already act as a sign of bearishness..
- Aiks... trade stopped out with the bearish breakout on the 12 April.
- Probably the 2nd failure to breakout of the 50MA resistance on 30 March already act as a sign of bearishness..