- reversal candle ( ) formed after testing the recent high
- Also, noted a divergence at the 2nd reversal candle
- In this point of time, my trade has been triggered @ 2.631 (Was rushing out to work after i took this trade, no time for me to document in my journal)
- Set near previous swing low @ 2.46
- set at 50% of the @ 2.71
- Might be in conflict with my Long silver trade took in the same time.
- Price been so in recent days, might have concern that this counter trend trade would not be stable.
- A strong bearish candle after my trigger candle (shooting star)
- Seems like bear will be in temporary control, with next support challenge will be the 10MA support
- Will hold on to this trade
- Yesterday session start off well but ended badly for me.
- In this point of writing, the price has came back to my entry point, forming a bullish reversal candle off the 10 MA (as highlighted yesterday that this will be the next support challenge)
- Further consolidation or 2nd bullish reversal candle at 10MA would warrant an early exit of this trade.
- As of now, will hold on to this trade
- In yesterday session, the bull movement halted at my entry point and formed a doji
- Price has been hovering at the 10MA support for the 2nd day.
- Would consider to quit earlier if the price is still consolidating till early of next week.
- The price once again closed undecided for the last trading day, hovering at the 10MA support for the 3rd day
- As of now, quite likely that i will exit this trade prematurely in anticipation of bull run off the 10MA support
- I will decide on this after next monday day close as the set up is still valid besides the above point.
- Exited the trade with 79 pips losses
- To be more careful on counter trend trades by having early exit rules
- The 2nd hammer candle off 10MA is the early sign of bullish reaction
- Trade exited not order cancelled