Background:
- 2nd try of CHFJPY Long - 10 Feb 2017
- Price is in a box consolidation since dec 2016.
- Continuous of previous bullish candle after testing horizontal support @ 112.36 within the consolidation
Entry:
- Buy stop above yesterday candle high @ 113.78
SL:
- Set at 50% of the current bullish move @ 112.8
PT:
- resistance at the box @ 115.1
Others:
- Unfavorable RR at 1.39
- 2nd try of CHFJPY Long - 10 Feb 2017
- Price is in a box consolidation since dec 2016.
- Continuous of previous bullish candle after testing horizontal support @ 112.36 within the consolidation
Entry:
- Buy stop above yesterday candle high @ 113.78
SL:
- Set at 50% of the current bullish move @ 112.8
PT:
- resistance at the box @ 115.1
Others:
- Unfavorable RR at 1.39
Trade closed: stop reached:
Updates - 18 Feb 2017:
- Trade was stopped out with the last trading day's bearish marobozu.
- This is an acceptable losses because i have comply all of my trading strategies/rules.
- Trade was stopped out with the last trading day's bearish marobozu.
- This is an acceptable losses because i have comply all of my trading strategies/rules.
- Now relooking at this, the review using exponential and simple MA model could filter this losing trade. Will definitely research more on this filtering method.