INSTRUMENT:- EURGBP
TIMEFRAME:- 1H
POSITION:- LONG
STRATEGY:- DOW THEORY + CANDLESTICK PATTERN
REASON:-
* Uptrend - trendline not broken, new HL being made
* Multiple Bearish Hammers indicate - Bulls in control, bears lost twice + Bullish Engulfing + Morning Star
ENTRY@ CMP (0.86278)
TAKE PROFIT@ 0.86416
STOP LOSS@ 0.86219
Risk to Reward Ratio:- 2:1
TIMEFRAME:- 1H
POSITION:- LONG
STRATEGY:- DOW THEORY + CANDLESTICK PATTERN
REASON:-
* Uptrend - trendline not broken, new HL being made
* Multiple Bearish Hammers indicate - Bulls in control, bears lost twice + Bullish Engulfing + Morning Star
ENTRY@ CMP (0.86278)
TAKE PROFIT@ 0.86416
STOP LOSS@ 0.86219
Risk to Reward Ratio:- 2:1
Trade closed: stop reached
Stop loss touched and trade liquidated my trade by bears.Next move, TP was done by the bulls.
Learning Outcome:-
Do not place stop loss to close to the previous HL.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.