NZDUSD Long - 22 November 2016

Background:
- The start of the week session closed a bullish reversal candle/bullish marobozu off the channel support and daily support line @ 0.704
- Also the candle formed a morning star formation
- Within the channel, noted that each bear attack is about 400 pips while bull run went for 300 pips

Entry:
- Buy stop set at 0.7085 (10pips above yesterday high)

TP:
- As the previous bull run in the channel is 300 pips, i have approximate my TP point about 270 pips from the low of yesterday candle (discount abit from the previous 300 pips bull run)
- Target set at 0.725

SL:
- Set at 0.699 as to make it below the 0.7 round number

Alert:
- Slight unfavorable as only 1 bullish reversal candle now

Transaction en cours:

Updates - 23 November 2016:
- In this point of writting, trade has been triggered.
- Yesterday session closed a doji at the higher range of Monday's bullish marobozu, but didnt invalidate this trade.
- Will keep holding on to this trade.

Transaction en cours:

- Yesterday price gap down and closed significantly lower.
- It seems like it will soon stop out my trade, no point taking the loss early
- Just let it goes it course...:(

Commentaire:

- Also, add 10 more pips for my SL @ 0.6980

Trade fermée: ordre d’arrêt atteint:

Updates - 24 November 2016:
- Aiks.... Price real bearish and stopped me out... suffered a 100pips lost
- Anyhow the support still there not broken, and maybe might formed a 2nd bullish reversal???

Lesson learned:
- This trade is my mistake as my entry is wrong with just 10 pips above the bullish candle high instead of my usual 15 pips....
- If i have set 15 pips, this trade would not have taken.... TO PAY ATTENTION AT ENTRY POINT NEXT TIME!!!!