Reasons for entry:
- Uptrend
- Clean break and retest of structural resistance now support
- Above both EMAs
- 2 1H canles failed to close below the support, creating a pinbar followed by a bullish engulfing
- 4H closed as a doji to support
- Waited for highs for be broken and entered.
Lessons learned: Not much as we could have taken 3% here but the markets gave me no reason to close out only that they were quite overextended.
We took the safer option of putting stops at 2% and holding overnight knowing that we would win worst case scenario.
- Uptrend
- Clean break and retest of structural resistance now support
- Above both EMAs
- 2 1H canles failed to close below the support, creating a pinbar followed by a bullish engulfing
- 4H closed as a doji to support
- Waited for highs for be broken and entered.
Lessons learned: Not much as we could have taken 3% here but the markets gave me no reason to close out only that they were quite overextended.
We took the safer option of putting stops at 2% and holding overnight knowing that we would win worst case scenario.
Comment:
Could have got out with abit more profit on that bearish engulfing at the top