Description
⋅ Background:
- Bullish engulfing pattern formed after breakout of the 50MA support
- Also, there is slight bullish divergence formed at the area
Entry:
- Buy stop set at 20pips above the bullish engulfing pattern's high @ 1.432
SL:
- Set way below 50% of the bullish engulfing candle, 20pips below round number 1.42 @ 1.418
- Probably should set SL below the low???
PT:
- Set at previous swing high @ 1.45
Notes:
- Not really happy with the RR ratio (1.29) as set bigger SL to sail through potential price fluctuation.