Week 9 Trade 1 GA Long
Updated
Reasons for entry:
- Price is currently on a uptrend
- Price has rejected and retested the 61.8 fib
- Possible hammer candlestick forming on the 4hr, weak hammer candlestick already formed on the 2hr
- Strong bullish engulfing on the 30min timeframe
Entry Timeframe:
- 30 min bullish engulfing
- @1.8240
Stop Loss:
@1.8200 (-40pips)
Take Profit:
- Target 1 @1.8400 (+160pips) = Risk/Reward : 1:4.1
- Target 2 @1.8550 (+310pips) = Risk/Reward : 1:7.9
Notes:
-
- Price is currently on a uptrend
- Price has rejected and retested the 61.8 fib
- Possible hammer candlestick forming on the 4hr, weak hammer candlestick already formed on the 2hr
- Strong bullish engulfing on the 30min timeframe
Entry Timeframe:
- 30 min bullish engulfing
- @1.8240
Stop Loss:
@1.8200 (-40pips)
Take Profit:
- Target 1 @1.8400 (+160pips) = Risk/Reward : 1:4.1
- Target 2 @1.8550 (+310pips) = Risk/Reward : 1:7.9
Notes:
-
Comment
Price has reached my target area of 1.8550 (+310pips), unfortunately I was stopped out before that happened.Trade closed: target reached
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