LONG - GBPNZD - 1H - (CANDLESTICK with DOW THEORY)

Instrument:- GBPNZD
Position:- Long
Timeframe:- 1 Hour

Method:- Dow Theory + Candlesticks

Reason:-
Multiple bullish candlesticks ( Candlestick analysis)
Price in Uptrend with Multiple Higher highs and Higher Lows with no break in the uptrend (Dow theory)

Entry @ CMP (1.952)
Take Profit @ 1.96193
Stop loss @ 1.94880

RR:- 2:1

Trade closed: stop reached:

Stop loss touched and trade was liquidated.

Learning Outcome:-
Do not place stop loss to close to the HL levels.
Take a macro view of the market and then place SL.