TradingView
meister_keith
Jul 10, 2019 10:20 AM

Break and Retest of 136.000 Short

British Pound/Japanese YenFXCM

Description

Yesterday closed bearish after price tapped 136.270.
Price made it's support around 135.400.
Today on the daily, price pushed up to retest 136.000 which was a broken level from yesterday.

My idea,
Yesterday confirmed a bearish run.
Today, i got an M30 & H1 candle confirms indicating a possible down move.
I've set my sights on taking profits in two target levels (1) @135.400, (2) 135.000 which might be the weekly low.

Trade closed: stop reached

I had set my SL to +2 above B.E so price wicked me out.

Comment

I took a re-entry @ 135.968, with a 12 pip SL and 56 Pip TP @ 135.400. I might have to take TP earlier if price starts stalling.

Trade closed manually

Profit target 2 (135.050) was missed by 5 pips.
I finally got to close my trades @135.260 after i got a 1 hour price stall.
More