Background:
- Bearish reversal shooting star break below 50MA resistance after testing 10/20MA resistance area
Entry:
- Sell Stop 20 pips below signal candle (28 Feb 2017) - the shooting star @ 1.0549
- Entry triggered in this point of writing
SL:
- Set at 20 pips above signal candle @ 1.065
PT:
- Set at previous swing low support region @ 1.0386
- Bearish reversal shooting star break below 50MA resistance after testing 10/20MA resistance area
Entry:
- Sell Stop 20 pips below signal candle (28 Feb 2017) - the shooting star @ 1.0549
- Entry triggered in this point of writing
SL:
- Set at 20 pips above signal candle @ 1.065
PT:
- Set at previous swing low support region @ 1.0386
Trade closed: stop reached:
Updates - 11 March 2017:
- This trade started off nicely but stopped up with the 2nd bullish marobozu over the pass 2 weeks.
- Based my retrospective review, noted a few red flags that show bullish action that i would have taken them and avoid the SL:
1.) 3 March bullish marobosu - 3rd bullish action since mid feb
2.) Last week rising three method formation completed on the 9 March is a good indication to exit
- A careless mistake for not monitoring the trade but a good one to reinforce my candle stick pattern knowledge
- This trade started off nicely but stopped up with the 2nd bullish marobozu over the pass 2 weeks.
- Based my retrospective review, noted a few red flags that show bullish action that i would have taken them and avoid the SL:
1.) 3 March bullish marobosu - 3rd bullish action since mid feb
2.) Last week rising three method formation completed on the 9 March is a good indication to exit
- A careless mistake for not monitoring the trade but a good one to reinforce my candle stick pattern knowledge