Background: - Bullish breakout of recent inside candle formation at horizontal support @ 112.4 - Price is currently in a consolidation period between 112.4 to 115.0
Entry: - Entered market after yesterday bullish signal candle (missed out this trade yesterday)
SL: - Set at 50% fib of signal candle @ 112.7
PT: - Set at recent swing high or consolidation resistance @ 115
Trade closed: stop reached
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Updates - 11 Feb 2017: - Yesterday candle closed a bearish reversal shooting star after testing the MA - Trade closed after it reach my stop loss - Given such a set up, i certainly do not expect this trade to be loss making because of the bull reaction at the horizontal support @ 112.4... probably is because i need to be set my SL at the bottom of my signal candle low.... - Will definitely revisit this set up as i m still bullish on this pair.