NZDJPY Long - 22 Feb 2017
Updated
Background:
- Bullish hammer at horizontal support @ 81.00 area within a rectangular consolidation in a uptrend.
Entry:
- Buy stop at 81.65 above the bullish hammer on 23 Feb 2017.
(Entry triggered on 22 Feb 2017 and stopped out on 24 Feb 2017 by the bearish marobozu
SL:
- 20 pips below the signal candle @ 80.64
PT:
- Set at the rectangular resistance @ 83.5
- Bullish hammer at horizontal support @ 81.00 area within a rectangular consolidation in a uptrend.
Entry:
- Buy stop at 81.65 above the bullish hammer on 23 Feb 2017.
(Entry triggered on 22 Feb 2017 and stopped out on 24 Feb 2017 by the bearish marobozu
SL:
- 20 pips below the signal candle @ 80.64
PT:
- Set at the rectangular resistance @ 83.5
Trade closed: stop reached
Updates - 25 Feb 2017:- Trade stopped out by the 24 Feb 2017 bearish marobozu
Lesson learned:
- To use the Expo and simple filtration method could avoid this trade.
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