Monthly and Daily direction is down and have met a ll the requirements for a Cloud Breakout: 1. Have a break below the Cloud. 2. Have a TK cross 3. The Chikou is below price 4. The future Kumo is bearish
2 Potential entries for this trade:
First; The Breakout trade. Entry is 4 pips below the low of the Breakout candle (in this case we have to adjust for round number support) Entry = 112.98 Stop = 113.45 Risk = 47 pips PT = 3xR = 141 pips = 111.57
Second: a Pullback to the 60 Kejun Sen at 113.31 (turquise line on chart) This entry while providing better risk/reward decreases the probability of success. Entry: 113.31 Stop 113.45 Risk = 14 pips PT = 10xR = 140 = 111.91
** The Blue line on the chart is the Daily Kejun Sen and represents a major Support/Resistance level
Zlecenie aktywne
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This trade was triggered on the Brekout at112.98
Zlecenie aktywne
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This trade remains active and is currently + 28 pips.
Zlecenie zamknięto ręcznie
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After further review. I am closing this trade here + 28 pips. My main concern is the Daily Kejun Sen is now below price and although yesterday was a solid down day and formed an evening star, I consider the Kejun Sen too tough of a resistance level to try to punch trough, So we will take the win :)