Background: - Bearish divergence - 3 bearish reversal candle at triangle resistance and daily resistance at 1.317
Entry: Short @ 1.3175 after 3rd bearish reversal candle off resistance area
SL: Set at 50% of reversal candle @ 1.3245
TP: Set at round number 1.3 before triangle support
Alert: Cautious of ascending channel support, to pay attention and future daily bar reaction/close
Comment
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Update - 18 October 2016: - Currently 60 pips in money - Price testing the channel support and formed a inside bar from yesterday close
Action plan: - Hopefully today close lower than the 14 October candle low - Currently no changes to the trade depending how today daily candle close
Trade closed manually
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Update - 19 October 2016: - Price didnt manage to close lower than the 14 October candle low and formed a bullish reversal candle near the channel support area - Trade manually closed at 1.3107 with 67 pips gain:) - Could have rolled the dice by moving SL entry level and see how it goes but looking opportunity to short CAD