Profit(pips)=+210
Update: Second half was stopped at break-even. Note that there still a good chance for price to head higher again.
Update: That was faster then i anticipated :), hit first target, moved stop to break-even
See link below for the original trade
Update: Trade is active now, although i broke my rules as i always cancel the trade if price reaches first target without triggering entry(see rule number 5 below).
Price retraced again to test 1280.00 level, had a new opportunity to long , another four-hour hammer candle at 1280.00, increasing the chances of the bullish rebound.
Previous:
1)Multiple crossover above and below the moving averages indicates a bias-less market, sideways bias is favored for me,
2)Testing a major horizontal support area,
3)being rejected strongly
4)potential bullish divergence on Momentum
I will long anywhere near 1280 targeting 1300 and 1330, with a stop just below today's intraday low
Good Luck, join me at :
twitter.com/thefxchannel
thefxchannel.com
-------------------------------------------------------
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)
Update: Second half was stopped at break-even. Note that there still a good chance for price to head higher again.
Update: That was faster then i anticipated :), hit first target, moved stop to break-even
See link below for the original trade
Update: Trade is active now, although i broke my rules as i always cancel the trade if price reaches first target without triggering entry(see rule number 5 below).
Price retraced again to test 1280.00 level, had a new opportunity to long , another four-hour hammer candle at 1280.00, increasing the chances of the bullish rebound.
Previous:
1)Multiple crossover above and below the moving averages indicates a bias-less market, sideways bias is favored for me,
2)Testing a major horizontal support area,
3)being rejected strongly
4)potential bullish divergence on Momentum
I will long anywhere near 1280 targeting 1300 and 1330, with a stop just below today's intraday low
Good Luck, join me at :
twitter.com/thefxchannel
thefxchannel.com
-------------------------------------------------------
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)
